Jimmie Johnson Becomes Majority Owner of LEGACY MOTOR CLUB

The change in ownership structure comes as the organization enters a strategic partnership with Knighthead Capital Management, LLC, which has acquired a minority stake in the two-car NASCAR Cup Series organization.

“I really have to thank Maury Gallagher for giving me the opportunity within the ownership space,” said Johnson. “He has been an outstanding partner, mentor and friend and I’m grateful we had the opportunity to work together, I’ve learned so much from him. As his professional career takes a different path, he can worry less about the daily team owner things and focus more on family and enjoying life.” 

After more than a decade of owning and operating a successful NASCAR Xfinity Series and NASCAR Craftsman Truck Series organization in GMS Racing, Maury Gallagher will be taking a step back from his day-to-day duties and assume an ambassador role for LEGACY MOTOR CLUB.

"The partnership with Knighthead is a game-changer for LEGACY MC," continued Johnson. "Their expertise in navigating complex investment opportunities and success in sports will provide LEGACY MC with the resources and guidance needed to push for championships and solidify our place in NASCAR for years to come.” Johnson continued, "Having Knighthead on board will not only strengthen our racing efforts but also enhance the fan experience and expand our reach in the global motorsports ecosystem, not limited to NASCAR.” 

Founded in 2008, Knighthead Capital Management, LLC is an investment firm with deep expertise across a variety of sectors including finance, sports, and entertainment. Knighthead’s portfolio includes HERTZ, JOTA Racing, Singer Vehicle Design, Revology Cars, and Birmingham City Football Club.

"We are thrilled to partner with Jimmie Johnson and LEGACY MC,” said Tom Wagner, Co-Founder and Co-Managing Member of Knighthead Capital. “NASCAR’s rich history and LEGACY MC’s ambition and innovation make it a unique opportunity. We're thrilled to collaborate with Jimmie and Cal to drive the team forward—both on the track and within the wider racing community.”

Since LEGACY MOTOR CLUB was formed at the beginning of 2023, the organization has collected a pair of top five finishes and 13 top-10s. John Hunter Nemechek and Erik Jones return to the organization in 2025, piloting the No. 42 and No. 43 Toyota Camry XSEs.

“As one of the most successful drivers in NASCAR history, Jimmie’s leadership and his partnership-minded business prowess remain central to the success of LEGACY MC,” said Cal Wells, III. “This partnership is an important step for this race team, and we are thrilled to welcome Knighthead to LEGACY MC," said Wells, III. "Each partner we add brings a unique set of strengths and insights that will help us build a long-lasting legacy in NASCAR and sports in general. Together, we can unlock new opportunities, enhance our competitiveness, and offer fans an experience unlike any other.”

LEGACY MOTOR CLUB will begin its season with the Cook Out Clash at Bowman Gray Stadium on Sunday, February 2 at 8:00 PM ET. Coverage of the event will be on FOX, MRN, and SiriusXM NASCAR Radio Channel 90.