-
When is the Philadelphia Eagles Super Bowl parade? - 25 mins ago
-
US Government Employees Encouraged to Report Trump Admin’s ‘Abuse of Power’ - 31 mins ago
-
Trump has paralyzed agency that safeguards worker rights, labor experts and advocates say - 41 mins ago
-
Ecuador’s conservative incumbent Daniel Noboa and leftist lawyer Luisa González advance to presidential runoff - 54 mins ago
-
Atlanta Hawks’ Trae Young added to NBA All-Star Game as injury replacement - about 1 hour ago
-
Taylor Swift Fan at Super Bowl Goes Viral for Response to Booing at Singer - about 1 hour ago
-
Hungarian Youth Conference Celebrates 25th Anniversary - about 1 hour ago
-
Orbán calls for the ‘elimination of the Soros network’ - about 1 hour ago
-
Microsoft Teams is becoming a prime target for sophisticated scammers - 2 hours ago
-
How a land law sparked Elon Musk’s accusations of ‘genocide’ against his home country - 2 hours ago
Jimmie Johnson Accelerates Team Ownership Takeover in Surprise Move
Jimmie Johnson has made a surprising move by increasing his ownership stake to become the majority owner of Legacy Motor Club.
This development speeds up a five-year plan, now placing him at the forefront of the team. Known as a legendary figure in NASCAR, Johnson has already left a remarkable legacy as a seven-time Cup Series champion. His move is a new chapter both for him and the organization.
More News: Jimmie Johnson Reaches Legacy Motor Club Milestone With Ownership Update
The story of Legacy Motor Club was formed in 2023 when Johnson teamed up with Maury Gallagher and Richard Petty as co-owners. The team evolved from Petty GMS Motorsports, which has its origins in Petty Enterprises, one of NASCAR’s oldest and most successful teams. While Johnson now takes the lead, Richard Petty remains involved as an ambassador.
James Gilbert/Getty Images
Johnson spent time in England where he formed connections with influential figures in the sports sector. Among them were the representatives from Knighthead Capital, an investment firm managing $9 billion in assets, with interests in motorsports and other industries. Knighthead has become a partner in Legacy Motor Club, ready to fuel its growth.
“Ultimately, Maury (Gallagher) and I, we had a plan for kind of a five-year evolution where at the end of the five years I would become a majority owner,” Johnson shared with The Express US Sports.
More News: NASCAR’s 2025 Broadcasting Model Sparks Outrage As Season Begins
The team’s performance in 2024 faced challenges during their first full season backed by Toyota. However, with Johnson taking charge and Knighthead’s involvement, there is optimism for improvement.
Maury Gallagher, who was a co-owner along with overseeing Allegiant Air, has chosen to scale back his role. Family commitments and his various business ventures played a part in this decision.
“Life changes, and everything that Maury is so occupied with and busy with from the Allegiant side and other businesses he has and runs, plus just family time and trying to be around for his family,” Johnson admitted. The announcement of Johnson’s new role came ahead of The Clash at Bowman Gray, marking the start of the 2025 NASCAR season that included appearances by drivers John Hunter Nemechek and Erik Jones.
Johnson is excited about Legacy Motor Club’s future.
“Ironically, my time in London has allowed me to be around some extremely interesting and sports-focused individuals including the Knighthead folks. That was where I was really able to get to know them,” he commented. “As we started this process to find the right strategic partner, the alignment with Knighthead has just been incredible.
“I think there’s some short-term opportunities that will stand out quickly, then I believe over the years to come they’ll continue to grow the Legacy Motor Club brand.”
Looking to the future, plans are underway for Legacy Motor Club to compete in 2025’s major races, with Johnson participating in the Daytona 500 and Coca-Cola 600.
More News: NASCAR Clash Will Crush Dreams Before the Season Even Starts
Source link