Legacy Motor Club began its next chapter on Monday when Jimmie Johnson was introduced as its majority owner and Knighthead Capital Management, LLC a new investor and minority owner. The

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.

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 and co-owner of LEGACY MOTOR CLUB ("LEGACY MC") Jimmie Johnson announced today that LEGACY MC has joined forces with Knighthead Capital Management, LLC, on behalf of certain of its affiliates and accounts ("Knighthead") as a strategic partner.