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Hamilton Spectator
31-07-2025
- Automotive
- Hamilton Spectator
Judge halts sale of Rick Ware Racing's NASCAR team amid legal battle with Legacy Motor Club
CHARLOTTE, N.C. (AP) — A North Carolina judge on Thursday issued a temporary restraining order preventing Rick Ware Racing from selling its NASCAR team to T.J. Puchyr as part of an ongoing legal dispute with Jimmie Johnson-owned Legacy Motor Club. The order remains in place for 10 days and Legacy is required to post a bond of $5 million by end of business Friday. Rick Ware Racing's attorneys had requested the bond amount be set at $150 million — the agreed purchase price between RWR and Puchyr, one of the founders of Spire Motorsports who now is a consultant to various race teams and sponsors. Legacy is suing RWR over a dispute stemming from an agreement that Puchyr brokered for Johnson's race team to purchase one of Ware's two charters. The dispute is over which charter Ware agreed to sell and if the deal is for 2026 or 2027. A charter is NASCAR's version of a franchise tag and guarantees teams entry into every race, plus monetary assurances. Ware currently uses one of his charters to field a full-time car for his son, Cody, and leases a second charter to RFK Racing. Before he entered into a deal to sell a charter to Legacy, he already had an agreement with RFK to swap the charters currently in play and lease the other one to RFK in 2026. Then, in 2027, Ware planned to sell a charter outright to Legacy, which has a major investment from Knighthead Capital Management, a private equity firm worth over $13 billion. Legacy requested both a preliminary injunction and temporary restraining order, in arguing Ware 'has shown a willingness to lie to Legacy and to the Court about the status of the deal,' after Puchyr announced his plans in June to buy RWR's NASCAR team. Puchyr had negotiated the charter sale and Ware had previously stated he had no intention of selling or otherwise transferring the charters while the lawsuit was pending. Mecklenburg Superior Court Judge Clifton Smith issued a verbal order entering a temporary restraining order Thursday that blocks any sale for 10 days. Smith will consider Legacy's request for a preliminary injunction. Mark Henriques, counsel for Rick Ware Racing, argued both Ware and Puchyr intend to honor any deals but cannot meet the current terms of the charter purchase for 2026 based on the existing deal to lease a charter to RFK next season. RWR and Puchyr have said the plan is to lease to RFK in 2026 and sell to Legacy in 2027; Legacy says if Ware is selling to Puchyr, the charters contractually should be sold to Legacy. 'What we know is that these promises were made and this backdoor transaction was apparently entered into and is apparently a binding agreement, although not yet closed,' Legacy attorney Keith Forst said. 'There is really no harm to defendant whatsoever, and there is tremendous harm to plaintiff Legacy if this closing of these assets in fact happens.' Ware's attorney disagreed and argued that Ware is trying to stay in business as a one-car team fielded for his son. Puchyr has made clear he intends to keep Cody Ware in the lineup after he buys the assets from Rick Ware. 'My clients did exactly what they had the freedom to do, work out a deal that meets the needs of the entity, and enter into a binding transaction that covers the entire business and yet keeps Cody racing,' said Henriques. 'They're trying to have their cake and eat it too since they lost the first preliminary injunction.' Trial is currently scheduled for January, but Legacy has filed a second suit against Puchyr for interfering with its deal with Ware. Legacy has also terminated its consulting agreement with Puchyr. ___ AP auto racing:
Fox Sports
31-07-2025
- Automotive
- Fox Sports
Judge halts sale of Rick Ware Racing's NASCAR team amid legal battle with Legacy Motor Club
Associated Press CHARLOTTE, N.C. (AP) — A North Carolina judge on Thursday issued a temporary restraining order preventing Rick Ware Racing from selling its NASCAR team to T.J. Puchyr as part of an ongoing legal dispute with Jimmie Johnson-owned Legacy Motor Club. The order remains in place for 10 days and Legacy is required to post a bond of $5 million by end of business Friday. Rick Ware Racing's attorneys had requested the bond amount be set at $150 million — the agreed purchase price between RWR and Puchyr, one of the founders of Spire Motorsports who now is a consultant to various race teams and sponsors. Legacy is suing RWR over a dispute stemming from an agreement that Puchyr brokered for Johnson's race team to purchase one of Ware's two charters. The dispute is over which charter Ware agreed to sell and if the deal is for 2026 or 2027. A charter is NASCAR's version of a franchise tag and guarantees teams entry into every race, plus monetary assurances. Ware currently uses one of his charters to field a full-time car for his son, Cody, and leases a second charter to RFK Racing. Before he entered into a deal to sell a charter to Legacy, he already had an agreement with RFK to swap the charters currently in play and lease the other one to RFK in 2026. Then, in 2027, Ware planned to sell a charter outright to Legacy, which has a major investment from Knighthead Capital Management, a private equity firm worth over $13 billion. Legacy requested both a preliminary injunction and temporary restraining order, in arguing Ware 'has shown a willingness to lie to Legacy and to the Court about the status of the deal,' after Puchyr announced his plans in June to buy RWR's NASCAR team. Puchyr had negotiated the charter sale and Ware had previously stated he had no intention of selling or otherwise transferring the charters while the lawsuit was pending. Mecklenburg Superior Court Judge Clifton Smith issued a verbal order entering a temporary restraining order Thursday that blocks any sale for 10 days. Smith will consider Legacy's request for a preliminary injunction. Mark Henriques, counsel for Rick Ware Racing, argued both Ware and Puchyr intend to honor any deals but cannot meet the current terms of the charter purchase for 2026 based on the existing deal to lease a charter to RFK next season. RWR and Puchyr have said the plan is to lease to RFK in 2026 and sell to Legacy in 2027; Legacy says if Ware is selling to Puchyr, the charters contractually should be sold to Legacy. 'What we know is that these promises were made and this backdoor transaction was apparently entered into and is apparently a binding agreement, although not yet closed,' Legacy attorney Keith Forst said. 'There is really no harm to defendant whatsoever, and there is tremendous harm to plaintiff Legacy if this closing of these assets in fact happens." Ware's attorney disagreed and argued that Ware is trying to stay in business as a one-car team fielded for his son. Puchyr has made clear he intends to keep Cody Ware in the lineup after he buys the assets from Rick Ware. 'My clients did exactly what they had the freedom to do, work out a deal that meets the needs of the entity, and enter into a binding transaction that covers the entire business and yet keeps Cody racing,' said Henriques. 'They're trying to have their cake and eat it too since they lost the first preliminary injunction.' Trial is currently scheduled for January, but Legacy has filed a second suit against Puchyr for interfering with its deal with Ware. Legacy has also terminated its consulting agreement with Puchyr. ___ AP auto racing: recommended Item 1 of 3 in this topic
Winnipeg Free Press
31-07-2025
- Automotive
- Winnipeg Free Press
Judge halts sale of Rick Ware Racing's NASCAR team amid legal battle with Legacy Motor Club
CHARLOTTE, N.C. (AP) — A North Carolina judge on Thursday issued a temporary restraining order preventing Rick Ware Racing from selling its NASCAR team to T.J. Puchyr as part of an ongoing legal dispute with Jimmie Johnson-owned Legacy Motor Club. The order remains in place for 10 days and Legacy is required to post a bond of $5 million by end of business Friday. Rick Ware Racing's attorneys had requested the bond amount be set at $150 million — the agreed purchase price between RWR and Puchyr, one of the founders of Spire Motorsports who now is a consultant to various race teams and sponsors. Legacy is suing RWR over a dispute stemming from an agreement that Puchyr brokered for Johnson's race team to purchase one of Ware's two charters. The dispute is over which charter Ware agreed to sell and if the deal is for 2026 or 2027. A charter is NASCAR's version of a franchise tag and guarantees teams entry into every race, plus monetary assurances. Ware currently uses one of his charters to field a full-time car for his son, Cody, and leases a second charter to RFK Racing. Before he entered into a deal to sell a charter to Legacy, he already had an agreement with RFK to swap the charters currently in play and lease the other one to RFK in 2026. Then, in 2027, Ware planned to sell a charter outright to Legacy, which has a major investment from Knighthead Capital Management, a private equity firm worth over $13 billion. Legacy requested both a preliminary injunction and temporary restraining order, in arguing Ware 'has shown a willingness to lie to Legacy and to the Court about the status of the deal,' after Puchyr announced his plans in June to buy RWR's NASCAR team. Puchyr had negotiated the charter sale and Ware had previously stated he had no intention of selling or otherwise transferring the charters while the lawsuit was pending. Mecklenburg Superior Court Judge Clifton Smith issued a verbal order entering a temporary restraining order Thursday that blocks any sale for 10 days. Smith will consider Legacy's request for a preliminary injunction. Mark Henriques, counsel for Rick Ware Racing, argued both Ware and Puchyr intend to honor any deals but cannot meet the current terms of the charter purchase for 2026 based on the existing deal to lease a charter to RFK next season. RWR and Puchyr have said the plan is to lease to RFK in 2026 and sell to Legacy in 2027; Legacy says if Ware is selling to Puchyr, the charters contractually should be sold to Legacy. 'What we know is that these promises were made and this backdoor transaction was apparently entered into and is apparently a binding agreement, although not yet closed,' Legacy attorney Keith Forst said. 'There is really no harm to defendant whatsoever, and there is tremendous harm to plaintiff Legacy if this closing of these assets in fact happens.' Thursdays Keep up to date on sports with Mike McIntyre's weekly newsletter. Ware's attorney disagreed and argued that Ware is trying to stay in business as a one-car team fielded for his son. Puchyr has made clear he intends to keep Cody Ware in the lineup after he buys the assets from Rick Ware. 'My clients did exactly what they had the freedom to do, work out a deal that meets the needs of the entity, and enter into a binding transaction that covers the entire business and yet keeps Cody racing,' said Henriques. 'They're trying to have their cake and eat it too since they lost the first preliminary injunction.' Trial is currently scheduled for January, but Legacy has filed a second suit against Puchyr for interfering with its deal with Ware. Legacy has also terminated its consulting agreement with Puchyr. ___ AP auto racing:
Hamilton Spectator
16-07-2025
- Automotive
- Hamilton Spectator
Legacy Motor Club sues broker for alleged interference in NASCAR charter deal with Rick Ware Racing
CHARLOTTE, N.C. (AP) — Legacy Motor Club on Wednesday sued the broker who helped negotiate its purchase of a charter from Rick Ware Racing, accusing him of tortious interference for now trying to buy Ware's NASCAR team. Legacy alleged in its filing in North Carolina Superior Court that T.J. Puchyr, acting as a consultant for the Cup Series team owned by seven-time NASCAR champion Jimmie Johnson, violated the state Unfair and Deceptive Trade Practices Act by using 'insider knowledge and position of trust to interfere with Legacy's Agreement with RWR.' Legacy also accused Puchyr of making public personal attacks against Johnson when he announced last month his plans to purchase Ware's tiny race team. The dispute began not long after Legacy entered into agreement for Johnson and his partners at Knighthead Capital Management to purchase one of Ware's two charters. Legacy says the deal is for next season, when it plans to expand to three full-time Cup cars. RWR maintains the deal was for 2027 because it already is under contract with RFK Racing to lease that organization a charter next season. Ware says he didn't read the contract closely when he signed it to note that it read 2026, and that honoring the RFK contract and selling a second charter to Legacy next year would put the NASCAR team out of business. Legacy in April sued Ware, but as that fight is playing out, it claims Puchyr struck a deal to buy RWR. Puchyr is a co-founder of Spire Motorsports and now acts as a motorsports consultant. 'Mr. Puchyr was well aware of the parties' dispute. He knew of the charter purchase agreement between Legacy and RWR that he helped broker,' the suit contends. 'Despite Mr. Puchyr's insider knowledge of the contract, his obligations under his consulting agreement with Legacy, Legacy's contractual right to a charter ... Mr. Puchyr recently announced that he intends to purchase both of RWR's charters for himself.' The latest filing is part of two active lawsuits surrounding charters, which are at the heart of NASCAR's business model. Having one is vital to a team's survival. 23XI Racing and Front Row Motorsports are locked into a prolonged suit with NASCAR over antitrust allegations against the most popular motorsports series in the United States. 23XI, co-owned by retired NBA great Michael Jordan, and Front Row, owned by entrepreneur Bob Jenkins, last September refused to sign the charter agreements offered by NASCAR after more than two years of contentious negotiations on extensions. The two were the only holdouts out of 15 organizations to refuse the extensions. They instead sued and are awaiting a federal judge's decision on if they will be stripped of their six combined charters as the case heads toward a Dec. 1 trial date. NASCAR has said it has asked multiple times for settlement proposals but heard nothing. NASCAR also has no intention of renegotiating the charter agreements held by 30 other teams. Johnson, despite his own legal fight, said last weekend that he supported a settlement in the antitrust case. 'I would love to see a settlement of some kind,' Johnson said. 'I really don't think that getting into a knock-down, drag-out lawsuit is good for anybody.' ___ AP auto racing:
Fox Sports
16-07-2025
- Automotive
- Fox Sports
Legacy Motor Club sues broker for alleged interference in NASCAR charter deal with Rick Ware Racing
Associated Press CHARLOTTE, N.C. (AP) — Legacy Motor Club on Wednesday sued the broker who helped negotiate its purchase of a charter from Rick Ware Racing, accusing him of tortious interference for now trying to buy Ware's NASCAR team. Legacy alleged in its filing in North Carolina Superior Court that T.J. Puchyr, acting as a consultant for the Cup Series team owned by seven-time NASCAR champion Jimmie Johnson, violated the state Unfair and Deceptive Trade Practices Act by using 'insider knowledge and position of trust to interfere with Legacy's Agreement with RWR.' Legacy also accused Puchyr of making public personal attacks against Johnson when he announced last month his plans to purchase Ware's tiny race team. The dispute began not long after Legacy entered into agreement for Johnson and his partners at Knighthead Capital Management to purchase one of Ware's two charters. Legacy says the deal is for next season, when it plans to expand to three full-time Cup cars. RWR maintains the deal was for 2027 because it already is under contract with RFK Racing to lease that organization a charter next season. Ware says he didn't read the contract closely when he signed it to note that it read 2026, and that honoring the RFK contract and selling a second charter to Legacy next year would put the NASCAR team out of business. Legacy in April sued Ware, but as that fight is playing out, it claims Puchyr struck a deal to buy RWR. Puchyr is a co-founder of Spire Motorsports and now acts as a motorsports consultant. 'Mr. Puchyr was well aware of the parties' dispute. He knew of the charter purchase agreement between Legacy and RWR that he helped broker,' the suit contends. 'Despite Mr. Puchyr's insider knowledge of the contract, his obligations under his consulting agreement with Legacy, Legacy's contractual right to a charter ... Mr. Puchyr recently announced that he intends to purchase both of RWR's charters for himself.' The latest filing is part of two active lawsuits surrounding charters, which are at the heart of NASCAR's business model. Having one is vital to a team's survival. 23XI Racing and Front Row Motorsports are locked into a prolonged suit with NASCAR over antitrust allegations against the most popular motorsports series in the United States. 23XI, co-owned by retired NBA great Michael Jordan, and Front Row, owned by entrepreneur Bob Jenkins, last September refused to sign the charter agreements offered by NASCAR after more than two years of contentious negotiations on extensions. The two were the only holdouts out of 15 organizations to refuse the extensions. They instead sued and are awaiting a federal judge's decision on if they will be stripped of their six combined charters as the case heads toward a Dec. 1 trial date. NASCAR has said it has asked multiple times for settlement proposals but heard nothing. NASCAR also has no intention of renegotiating the charter agreements held by 30 other teams. Johnson, despite his own legal fight, said last weekend that he supported a settlement in the antitrust case. 'I would love to see a settlement of some kind," Johnson said. "I really don't think that getting into a knock-down, drag-out lawsuit is good for anybody.' ___ AP auto racing: recommended Item 1 of 1 in this topic
