‘Johnson 2.0' ready to take next steps as an owner
Jimmie Johnson feels like he's the new guy again in NASCAR as the next chapter of his career begins as the majority owner of Legacy Motor Club.
'Right or wrong, I feel like I'm starting all over again and have my rookie stripe on,' Johnson tells RACER. 'The 1.0 of Jimmie was a driver, and I earned the right to have some swagger and confidence in how I walked through the garage, and I find myself starting all over again. It feels like 2002; I'm the new guy. I have the yellow stripe on my back.'
The seven-time Cup Series champion becomes the organization's majority owner as Maury Gallagher, its founder, steps away from the day-to-day operations. Gallagher will serve as a team ambassador with Richard Petty. As he does, Knighthead Capital Management, LLC, has acquired a minority stake in the three-car team.
Johnson joined Gallagher as an owner in 2023, three years after the NASCAR Hall of Fame driver retired from full-time competition after spending the entirety of his career with Hendrick Motorsports. Johnson competed in the NTT IndyCar Series and WeatherTech Sportscar Championship in the following two seasons, 2021 and '22.
However, at the end of 2022, Johnson reemerged in NASCAR by joining forces with Gallagher on the ownership side of the business and the team was rebranded from Petty GMS Motorsports to Legacy Motor Club.
Johnson first teamed up with Maury Gallagher at the end of 2022. Nigel Kinrade/Motorsport Images
'I really liked the idea of a longer runway to learn, and so with a shorter runway (now), there's stress that comes with that,' Johnson says. 'But I love a good challenge. This is an industry that I know and love. I have great confidence in where our sport is going.
'In the two years and the partnerships that we've built with Dollar Tree, Toyota, AdventHealth, there is a lot of security that I have for the next window of time because our contracts are all long-term.
'And then honestly, Maury's commitment these last two years, and I know it's been hard to see with the performance on track, and last year switching manufacture was just way more of a challenge than we could have ever thought. But his commitment, more specifically last year and the changes we had to make, the capital investment put into it, he has set us up, and we really look forward to showing that in the '25 season.
'But he has set us up for a very successful future, and knowing these elements behind the scenes gives me more confidence and brings the excitement that now I get a chance to lead the company.'
The succession of Johnson is not a recent development. He and Gallagher always had an understanding of the company's long-term future and Johnson, knowing that, has kept a close eye on the private equity world. Over time that has included meeting and introducing himself to individuals in that space.
It all came together, however, quicker than anticipated.
'I wanted to make sure that whoever our strategic partner or partners would be that it would be more than shaking hands in a meeting room,' Johnson says. 'I'm a relational guy and have had more success that way. So, I got off to an early start in socializing and meeting folks and on that journey, while being and living in London, I met Tom Wagner through friends in a social environment and really got to know Tom, the other founders of (Knighthead), the partners.
'And our social circle was interconnected, and through a series of social events and sharing what I had going on in life, they expressed interest, and we got into deeper conversations. More specifically after Maury spoke to me, I guess, midfall. He threw out the idea and asked if I would be ready to move forward and speed this up where he would pull back some and be more of an ambassador for the club than the one steering it.'
The future for Legacy Motor Club and its new partners from Knighthead Capital includes looking into opportunities for expansion within motorsport. It will include NASCAR as Johnson acknowledged the focus remains on stock car racing as the organization should be better positioned going forward to be ready for the changing landscape within the sport.
Johnson could lead Legacy Motor Club into other categories – something its already had a taste of with a brief foray in Extreme E last year. Andrew Ferraro/Motorsport Images
Even more so, Johnson expressed his passion for trying to build a brand. A brand based on winning races and championships in the Cup Series.
'There are many layers to the car space,' Johnson says. 'That is what I want Legacy Motor Club to evolve into over time.'
In the immediate future, Johnson believes the team can put a car in the postseason this season. Erik Jones and John Hunter Nemechek are the two full-time drivers for Legacy Motor Club, and while Johnson would love to see both become championship-eligible, having at least one car in the postseason is the highest priority.
Should that become a reality, it would help deliver the results Johnson wants for Gallagher.
'He has been a great mentor and friend,' Johnson says. 'His generosity and kindness not only to me but all of his employees – he's a family guy and walks that tightrope of being a brilliant businessman but also that family component and family feel. I feel very fortunate throughout my career to have been able to work for people who truly do care for their employees and love to provide and give opportunities.
'I'm very thankful for the experience and mentorship and knowing he's not going anywhere. The roles have changed. But at the end of the day, I want to win races for him. He's the kind that I want to win these for and just put a huge smile on his face.'
Story originally appeared on Racer
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