Seven-time NASCAR Cup Series champion Jimmie Johnson’s journey from driver to team owner wasn’t just about nostalgia.

After retiring from full-time NASCAR competition in 2020 and spending two years in IndyCar, Johnson’s return to NASCAR ownership was driven by missing the sport’s unique culture and recognizing superior business opportunities compared to open-wheel racing.

Jimmie Johnson’s Financial Wake-Up Call in IndyCar

During his IndyCar stint with Chip Ganassi Racing from 2021-2022, Johnson initially found success, particularly with his fifth-place finish at Iowa Speedway in July 2022. However, the financial realities of IndyCar began weighing heavily on his decision-making.

“As I was racing the IndyCar and spending time with CGR, there was an opportunity there to maybe control and run the 48 car in CGR and have ownership there,” Johnson explained during Kevin Harvick’s “Happy Hour” podcast.

“And as I look closer at it, as much fun as I was having and as interesting as it was, the financial piece without having a charter system, man, it just seemed like a tough road to hoe,” he added.

The contrast between NASCAR’s charter system and IndyCar’s lack of guaranteed revenue streams became decisive.

NASCAR’s charter agreement includes revenue sharing and guaranteed starting spots for 36 races per season. In contrast, IndyCar’s charter system doesn’t guarantee spots in all races and lacks the lucrative television contracts that drive NASCAR’s financial model.

Beyond business considerations, Johnson revealed a deeper emotional pull back to NASCAR. “I missed it for sure. Missed the people and there’s just a feeling of being in this industry,” he told Harvick.

Jimmie Johnson’s Harsh Reality of Team Ownership

Johnson’s transition to Legacy Motor Club ownership has been educational. When Harvick asked about the demands of ownership, Johnson acknowledged it’s a 24/7 job. The financial needs have been particularly eye-opening.

“It eats money. It’s a money eating machine. It’s a hungry beast,” Johnson and Harvick explained. “You get behind on that part of it, you’re in big trouble. The lights go out and the performance goes down.”

Johnson recognized that his value lies more in the boardroom than the cockpit. During the 2024 season finale at Phoenix, he experienced clarity when he saw Toyota executives walking down pit road as he prepared to race.

MORE: Hall of Famer Jimmie Johnson Outlines Key Changes Needed to Save NASCAR’s NextGen Era

“I should be in the suite right now,” he realized, acknowledging that sponsor meetings and business development are more crucial than his part-time driving efforts.

In January 2025, Johnson became the majority owner of Legacy Motor Club with backing from private equity firm Knighthead Capital Management. His return represents a calculated business decision based on NASCAR’s economic model and his recognition that building a lasting legacy requires the same intensity that fueled his championship success.