Legacy Motor Club is currently owned by Jimmie Johnson with minority stakes by Knighthead Capital Management. This article provides a detailed explanation of the ownership structure of the team.
Legacy Motor Club is an American professional stock car racing team that competes in the NASCAR Cup Series. The team was formerly known as Petty GMS Motorsports.
Ownership structure of Legacy Motor Club
Jimmie Johnson is the majority owner of the Legacy Motor Club. He is a 7-time NASCAR Cup Series champion and is widely considered as one of the greatest NASCAR drivers in history.
Knighthead Capital Management, LLC, is an investment firm. They are one of the minority owners of the team.
Owners’ Net Worth
Jimmie Johnson: The majority owner of the Legacy Motor Club has an estimated net worth around $160 million accrued from his racing career, endorsements, and business ventures.
Knighthead Capital Management is a hedge fund managing firm with billions in assets.
Ownership History of Legacy Motor Club
Legacy Motor Club was founded in 2021 as Petty GMS Motorsports after Maury Gallagher purchased a majority interest in Richard Petty Motorsports. The team first competed in the NASCAR Cup Series in 2022 under Petty GMS branding.
The team later rebranded as Legacy Motor Club in 2023, with Jimmie Johnson joining as co-owner. Johnson later became a majority owner, while Knighthead Capital acquired minority stakes.