Jimmie Johnson has taken a significant step in his NASCAR journey by increasing his ownership stake to become the majority owner of Legacy Motor Club. This move accelerates what was originally a five-year plan, positioning him as the leading figure in the organization. As a seven-time Cup Series champion, Johnson has already made a lasting impact on the sport, and this latest development marks a new chapter in both his career and the team’s future.
Legacy Motor Club was established in 2023 when Johnson partnered with Maury Gallagher and Richard Petty after the transition from Petty GMS Motorsports. The organization traces its roots to Petty Enterprises, one of NASCAR’s most historic teams. While Johnson now takes on a greater leadership role, Petty will continue as an ambassador for the team.
During his recent time in England, Johnson built connections with influential figures in sports, including representatives from Knighthead Capital, an investment firm managing $9 billion in assets. Knighthead, which has interests in motorsports and other industries, has now joined as a partner in Legacy Motor Club, providing additional resources to strengthen the team.
Johnson explained that he and Gallagher initially mapped out a five-year plan in which he would eventually assume majority ownership. However, circumstances led to an accelerated timeline. Legacy Motor Club has faced challenges in 2024 during its first full season as a Toyota-backed team, but with Johnson at the helm and Knighthead’s involvement, there is optimism for better results moving forward.
Gallagher, who had been balancing his ownership role with his leadership at Allegiant Air and other business ventures, decided to reduce his involvement due to professional and personal commitments. Johnson acknowledged this, stating that Gallagher’s responsibilities and desire to spend more time with family contributed to the decision.
The announcement of Johnson’s expanded role came ahead of The Clash at Bowman Gray, marking the beginning of the 2025 NASCAR season. Legacy Motor Club drivers John Hunter Nemechek and Erik Jones were also present.
Johnson is enthusiastic about the team’s future and the partnership with Knighthead. He credited his time in London for introducing him to key sports-focused individuals, including those at Knighthead, and emphasized the strong alignment between their goals. He believes the collaboration will yield both immediate and long-term benefits for Legacy Motor Club.
Looking ahead, the team is preparing for the 2025 season, with Johnson set to compete in major events like the Daytona 500 and Coca-Cola 600.
