Seven-time NASCAR Cup champion Jimmie Johnson has taken a big step forward in his racing career by becoming the majority owner of Legacy Motor Club. Alongside him, the team has welcomed a new partner, Knighthead Capital Management, which has taken a minority stake in the NASCAR outfit.

Knighthead Capital Management has acquired a minority stake in LEGACY MOTOR CLUB, making Jimmie Johnson the majority owner as Maury Gallagher steps back from the day-to-day operations of the team.

Seven-time NASCAR champion Jimmie Johnson is now the majority owner of Legacy Motor Club under a restructuring in which investment adviser Knighthead Capital Management bought into the Cup Series team.

During the Rolex 24 at Daytona broadcast, Jimmie Johnson, co-owner of Legacy Motor Club, shared plans for his team’s expansion into the International Motor Sports Association (IMSA). Johnson, a 7-time NASCAR Cup Series champion, plans to take his team into other motorsport disciplines, with IMSA high on the list.

Seven-time Cup Series champion Jimmie Johnson has been phenomenal as a driver in NASCAR. The post Petty Enterprises' NASCAR Remnants Fade Away As Jimmie Johnson Given Total Reign of Legacy Motor Club appeared first on EssentiallySports.