Seven-time NASCAR champion Jimmie Johnson is set to become the majority owner of Legacy Motor Club, partnering with Knighthead Capital Management, LLC, who will acquire a minority stake in the three-car operation.

Maury Gallagher, who founded the team in 2022, will transition to a team ambassador role alongside Richard Petty. The team currently fields Toyota entries for:

• John Hunter Nemechek (No. 42)
• Erik Jones (No. 43)
• Jimmie Johnson (No. 84, part-time)

Knighthead Capital, a New York-based investment advisor founded in 2008, brings extensive experience in automotive investments through HERTZ, Singer Vehicle Design, and Revology Cars. They also maintain interests in other sports, including JOTA Racing and Birmingham City Football Club.

The team's history includes:

• Founded as Petty GMS Motorsports in 2022
• Rebranded to Legacy Motor Club before 2023
• Joined Toyota in 2024
• One Cup Series win at the 2022 Southern 500 with Erik Jones

Under the new partnership, Legacy Motor Club is expected to explore additional racing platforms while building upon its NASCAR presence. The team's most recent season saw Jones finish 28th and Nemechek 34th in championship standings.

This acquisition marks a significant shift in NASCAR team ownership, bringing together Johnson's racing expertise with Knighthead Capital's business acumen to chart a new course for the organization's future in motorsports.

Related Articles

Previous Articles