Jimmie Johnson becomes majority owner of Legacy Motor Club with backing from private equity firm

Seven-time NASCAR champion Jimmie Johnson has taken a significant step in his motorsports career, becoming the majority owner of Legacy Motor Club. 

Johnson acquired the majority stake previously held by team founder Maury Gallagher, who will remain involved as an ambassador for the team.

In a strategic move, private equity firm Knighthead Capital Management has partnered with Johnson to drive the team’s future success. Knighthead is well known for its investments in sports and entertainment. With this acquisition, it adds Legacy Motor Club to a portfolio that includes JOTA Racing, Hertz, and Birmingham City Football Club. Johnson described the partnership as a “game-changer” for the team. This is because it provides critical resources to elevate Legacy Motor Club’s performance and expand its influence in global motorsports.

Legacy Motor Club enters its second season as a Toyota-backed Tier 1 team, determined to improve after a challenging 2024 season. The team, led by CEO Cal Wells III and Johnson, aims to leverage Knighthead’s support to enhance its competitive edge and deepen fan engagement.

Thomas Wagner, co-founder of Knighthead Capital, expressed enthusiasm about the collaboration. He cited shared ambitions to propel Legacy Motor Club forward within NASCAR and the broader motorsports industry.

This ownership shift signals a transformative phase for Legacy Motor Club as it seeks to achieve greater success in the fast-paced world of NASCAR.

Source: Sportsnaut

Can’t stop reading? Read more