Jimmie Johnson Secures Deal To Become Majority Owner Of LEGACY MOTOR CLUB
Summary
NASCAR champion Jimmie Johnson has announced a significant partnership between his team, LEGACY MOTOR CLUB, and Knighthead Capital Management, LLC. This collaboration marks Knighthead's acquisition of a minority stake in the team and aims to enhance LEGACY MC's competitive edge and global brand recognition. With Johnson now as the majority owner, he plans to utilize Knighthead's investment expertise to strengthen the team's resources and improve fan engagement as they prepare for the upcoming 2025 NASCAR Cup Series season.
This restructuring involves the transition of Maury Gallagher to an ambassador role, allowing him to focus on other endeavors while Johnson takes on a more active management position. Knighthead, which oversees $9 billion in assets, has purchased a substantial portion of Gallagher's shares, further solidifying its role in the team’s future. With ambitions to qualify for major races, including the prestigious DAYTONA 500, Johnson emphasizes the transformative potential of this partnership to enhance both on-track performance and overall team branding.