Legacy Motor Club welcomes new minority owners; Jimmie Johnson becomes the majority owner of the NASCAR team
In 2021, the owner of GMS Racing, Maury Gallagher purchased a stake in Richard Petty Motorsports. The two teams merged, becoming Pretty GMS Motorsports.
In 2022, 7-time NASCAR Cup Series champion Jimmie Johnson joined the ownership group. And for 2023, the team was re-branded as Legacy Motor Club.
The team owns two NASCAR charters. Erik Jones and John Hunter Nemechek race full-time for the team in the NASCAR Cup Series. Jimmie Johnson still races part-time.
Jimmie Johnson sets 2025 schedule
Now, ahead of the 2025 season, Knighthead Capital Management, LLC has joined the team as a strategic partner and a minority owner. Gallagher is taking a step back from day-to-day operations and will take an ambassador role.
With the new minority owners, Jimmie Johnson has become the majority owner of Legacy Motor Club.
Jimmie Johnson comments
“I really have to thank Maury Gallagher for giving me the opportunity within the ownership space,” Jimmie Johnson stated.
“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.”
“The partnership with Knighthead is a game-changer for LEGACY MC,” said 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 added, “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.”
Noah Gragson released from Legacy Motor Club
Cal Wells III comments
“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 CEO 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.”
Knighthead Capital Management, LLC comments
“We are thrilled to partner with Jimmie Johnson and LEGACY MC. 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.”
Johnson compares Next Gen to previous cars (Video)
