
Seven-time NASCAR Cup Series champion Jimmie Johnson is now the majority owner of Legacy Motor Club.
Johnson has served as a minority owner since the end of the 2022 season alongside team founder Maury Gallagher, who has sold his stake but remains with the organization in an ambassador role moving forward. Additionally, the team has received an ownership investment from a private equity group, Knighthead Capital Management, LLC.

Gallagher will no longer be involved in the day-to-day operation of the team, with Johnson and team CEO Cal Wells III calling the shots entirely.
“I really have to thank Maury Gallagher for giving me the opportunity within the ownership space,” Johnson said in a press release. “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.”
Gallagher, who also founded and operates Allegiant Airlines, owned a NASCAR team since 2011 in the form of GMS Racing and then Petty GMS which debuted in the Cup Series in 2022 when he purchased the assets of Richard Petty Motorsports. Petty also remains in a similar ambassador role with the team.
Knighthead Capital Management, LLC, founded in 2008, is an investment firm that has a portfolio that includes carious sports and entertainment properties — HERTZ, JOTA Racing, Singer Vehicle Design, Revology Cars, and Birmingham City Football Club.
“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.
“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.”
Thomas Wagner is a co-founder of Knighthead, who offered a quote in the press release.
“We are thrilled to partner with Jimmie Johnson and Legacy MC,” said Wagner. “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.”
This has been an off-season full of change for the team, which is set to enter its second campaign as a Toyota Tier 1 backed group, having made several competition department moves after a tough season for full-time drivers Erik Jones and John Hunter Nemechek.