I have the yellow stripe on my back.” The seven-time Cup Series champion becomes the organization’s majority owner as Maury Gallagher, its founder, steps away from the day-to-day operations.

Maury Gallagher, who founded the team in 2022, is stepping back from its day-to-day operations and will be a team ambassador. Richard Petty also remains a team ambassador. Knighthead Capital is a ...