Jimmie Johnson Takes Control as Majority Owner of Legacy Motor Club in NASCAR Shakeup
Legacy Motor Club undergoes significant ownership restructuring as seven-time NASCAR Cup Series champion Jimmie Johnson becomes the majority owner. This change comes alongside a new partnership with Knighthead Capital Management, LLC, who acquires a minority stake in the team.
Fernando Alonso in black racing jacket
Former majority owner Maury Gallagher transitions to a team ambassador role, joining NASCAR legend Richard Petty in that capacity. The team currently operates three Toyota entries in the NASCAR Cup Series:
- No. 42 - John Hunter Nemechek
- No. 43 - Erik Jones
- No. 84 - Jimmie Johnson (part-time)
Knighthead Capital, founded in 2008, brings extensive motorsport experience through investments in JOTA Racing and automotive ventures like HERTZ and Singer Vehicle Design. The partnership is expected to expand Legacy Motor Club's presence in other racing platforms.
Legacy Motor Club's journey began in 2022 as Petty GMS Motorsports when Gallagher acquired Richard Petty's organization. The team rebranded to its current name in 2023 when Johnson joined the ownership group. Their most notable achievement came in 2022 when Erik Jones won the Southern 500 at Darlington Raceway.
The team's 2024 switch to Toyota saw mixed results, with Jones finishing 28th and Nemechek 34th in the championship standings. Under this new ownership structure, Legacy Motor Club aims to build upon its foundation and compete at the highest level of NASCAR competition.