SRX Series Assets Sold To GMS Race Cars

HARTFORD, OHIO – JULY 23: Marco Andretti #98 celebrates after winning the SRX Series Championship at Sharon Speedway on July 23, 2022 in Hartford, Ohio. (Photo by Jason Miller/SRX/Getty Images)

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The SRX Series, originally started by Nascar Hall of Famer Ray Evernham, has officially been sold after shutting down abruptly last year.

GMS Race Cars, owned by Maury Gallagher, has purchased the series’ assets from Ray Evernham Enterprises. The assets include the complete SRX vehicle fleet (16 cars) and equipment.

“These race cars were built to an incredibly high standard by Ray, with durability, drivability, and performance in mind,” Joey Cohen, president of GMS Race Cars, said. “Our team sees a huge opportunity to take these vehicles into a new era, repurposing them for premium track-day experiences, turnkey customer programs, and specialty racing events across the country. The possibilities are endless.”

Cohen previously served as vice president of race operations for Legacy Motor Club and served as a fill-in Cup Series crew chief on multiple occassions.

“This acquisition is a major step forward for GMS Fabrication as well,” Mike Beam, president of GMS Fabrication, said. “Our fabrication teams are central to every racing effort, and we’re excited to lead this next chapter with the craftsmanship and pride that GMS is known for.”

The series originally had major backing from George Pyne and Sandy Montag, as well as fellow Nascar Hall of Famer Tony Stewart.

SRX gained immediate notoriety with former and current motor sports stars from Nascar, the NTT IndyCar Series, NHRA and Trans-Am competing against each other at local short tracks across America. It developed partnerships with ESPN, followed by CBS, to air each of its races live.

“It’s incredibly gratifying to see these cars live on in a new format,” Evernham said. “We built them to be durable, lively, and fun—whether in the hands of champions or first-timers. GMS Race Cars is the perfect group to carry that torch forward and put smiles on a whole new generation of drivers.”

GMS did not obtain the SRX brand name, trademarks or broadcast rights. GMS also did not announce what its plans are for any future potential division.

The move comes after Gallagher now owns only a minority interest in Legacy Motor Club, as Jimmie Johnson now owns the majority of the organization with Knighthead Capital Management acquiring a large percentage of Gallagher’s former stake. The organization is also spearheading a super late model chassis manufacturing program.