Jimmie Johnson Becomes Co-Owner Of Petty GMS; Set To Make Nascar Return In 2023

Jimmie Johnson, the seven-time Nascar Cup Series champion, announced on Friday that he purchased a minority ownership stake in Petty GMS.

The 47-year-old will return to Nascar competition in multiple races, including the 2023 Daytona 500, as part of his deal with the team owned by Maury Gallagher, CEO and Chairman of Allegiant Air, and Nascar Hall of Famer Richard Petty.

“It’s great to be back in Nascar,” Johnson said. “When the IndyCar season ended, I started on this journey of what was next. Maury and I connected, this opportunity came to light and it’s the perfect fit for me. Team ownership makes so much sense at this stage of my career and after spending time with Maury and his family, talking with Mike (Beam), Dave (Elenz, crew chief of the No. 43 car) and Joey (Cohen, director of competition and engineering), I realized this was something I wanted to be involved with from both the business perspective and on the competition side.

“If I’m going to commit to something like this, I want to make a difference and have something tangible to show for it when it’s all said and done. So this opportunity with Petty GMS is all of that and much more.”

Johnson’s car number, sponsors and additional races were not announced during the initial announcement. During Friday’s press conference, Johnson did say he is open to competing in the IndyCar Series and in sports cars.

Johnson spent the last two years in the NTT IndyCar Series, competing part-time in 2021 and full time in 2022, including his Indianapolis 500 debut, for Chip Ganassi Racing where he wrecked out. At the end of the 2022 season, he announced he will officially step away from full-time motor sports competition, but made it known he wants to continue racing.

Petty GMS formed after Richard Petty Motorsports CEO Andrew Murstein sold his majority stake in the organization to Gallagher, who owned a multi-truck Camping World Truck Series team at the time.

Richard Petty Motorsports owned two charters, but it leased one and Gallagher utilized it to field Ty Dillon’s No. 42 car in 2022. Next year, Noah Gragson will compete full-time in the No. 42 entry alongside Erik Jones, who scored the new team’s first win at Darlington Raceway in September.

“I’m fortunate that I had incredible mentors throughout my life, and I’ve always tried to pay that forward,” Johnson said. “My experience and energy will add value to a team with young drivers like Erik and Noah. I feel like I can be a good resource both on and off the track.”

Johnson’s task at Petty GMS will be to turn the organization into a team that is constantly winning races. The partnership makes sense given his alliance to Chevrolet in Nascar, the manufacturer he spent his entire Nascar career with.

Gragson, who has raced for JR Motorsports (an affiliate of Hendrick Motorsports) in the Xfinity Series since 2019, created a unique connection for Johnson between HMS and the second-year team.

“I couldn’t be happier to have Jimmie Johnson joining Petty GMS,” Gallagher said. “We have been consistent since we began our Cup effort last year in wanting to be up front and have a winning program. No one in the modern era of NASCAR has won more than Jimmie. Having a driver the caliber of Jimmie, driving our equipment and being able to provide feedback to our crew chiefs and engineers but most importantly, mentoring Erik and Noah will be invaluable. Perhaps most important of all, Jimmie will be a great partner.”

The move to become a partial owner of Petty GMS is a long-term move for Johnson. Gallagher is 72 years old and Mike Beam, president of Petty GMS, is 67.

“We’ve got to fast track this,” Beam said during Gragson’s announcement in August.

Johnson can theoretically take control of this organization when the two retire.

“What an exciting time for Petty GMS,” Petty, Nascar’s all-time wins leader, said. “This year, we’ve accomplished so much together with Maury and now adding Jimmie will only continue to help us grow. To have Jimmie — another seven-time champion — as a part of the team, and his abilities both on track and off will be special for Petty GMS. I’m looking forward to having him as a part of our team and seeing what we can build together.”