What’s next for Jimmie Johnson in his return to NASCAR? Questions, answers and analysis

AVONDALE, Arizona – Jimmie Johnson entered into NASCAR team ownership Friday, but it wasn’t the first opportunity he had to have a stake in a Cup Series organization.

If he had chosen the path earlier, the seven-time Cup Series champion believes he could have been working alongside Jeff Gordon in Hendrick Motorsports management.

During the early rounds in one of his contract renewals with Rick Hendrick, Johnson said the team owner floated the idea of a “lifetime” deal similar to Gordon, who transitioned into Hendrick Motorsports’ chief operating officer role after becoming a minority partner of the team during his career.

“Rick was like, ‘Look, I’m willing to be creative if you want to be,’ and I just didn’t know what I wanted,” Johnson told NBC Sports after his news conference Friday at Phoenix Raceway to announce his new role at Petty GMS Racing. “Man, the old system just didn’t seem to make sense, and I chose to not take ownership in the team. And then when the charters came along, I was like maybe I should have.

“You look at where the charter value is now, and you’re like, ‘Damn it!’ But you would have had to have the crystal ball.”

Since being introduced in 2016, the prices have mushroomed for buying into the charter system that established guaranteed value for 36 Cup teams in a de-facto franchise system. Four years ago, they reportedly were selling for $3-5 million apiece. Now with NASCAR on the cusp of a new TV rights deal in 2025, and with the charter contract due for a renewal next year that could mean a restructuring with more team revenue, the going rate for a charter now is estimated to be $20-30 million.

Johnson said it’s changed his perspective on NASCAR team equity.

“Mine and many others out there,” he said. “There is a footrace of interested buyers that want to get in the sport and be a part of it.”

But his change of heart about becoming a team owner is more than just transactional.

Over the past two IndyCar seasons with Chip Ganassi Racing, Johnson developed an unexpected appreciation and passion for the business side of racing. His business team helped broker many of the sponsorship deals that put him in IndyCar (with backing from Carvana) while team owner Chip Ganassi pulled back the curtain on how to fund and operate a race team.

“In the last two and two and a half years, I’ve had a different role, and my office has a different role,” Johnson said. “I’m surprised how much I really do enjoy the business side of it. So I think this is part of an evolution for me. I think the opportunity has changed as well.

“Certainly it makes more sense with the charter system and who knows where this new negotiation goes and revenue share. But a lot of things are trending in the right direction. The new car for a team like Petty GMS, it has helped the bottom line, and that’s obviously the target goal for NASCAR. I still think there’s a lot of work to be done to really hit the target that NASCAR set and (team owners) would like to see.

“But it’s moving in that direction, and then you have it shored up by a charter system that’s valuable. Logically, it just makes more sense in conjunction with my kind of ownership that I’ve had the last couple of years. Because it wasn’t on my radar before.”

As Johnson embarks on an unexpected chapter in his storied career, here are some pressing questions (and analysis) of the seven-time Cup Series champion’s return to NASCAR next season:

Q: After choosing which races he’ll run, what will be Johnson’s first order of business at Petty GMS?

A: Because “that benefits the team in many ways,”, the first hurdle will be integrating his sponsor portfolio into NASCAR.

The next step for Johnson will be trying to figure out where he fits into Petty GMS’ organizational hierarchy. Though the team fields two cars, it’s a relatively lean management setup with team president Mike Beam, competition director Joey Cohen and crew chiefs Dave Elenz and Chad Norris making the major competitive decisions. Beam said Johnson he will be able to have an immediate and major impact on the direction of Petty GMS, which was formed 11 months ago and earned its first victory with Erik Jones at the Southern 500.

Johnson also figures to be a mentor to 20something teammates Jones and Noah Gragson, but he also will have none of their experience with the Next Gen car.

While he might be seeking their advice on track, Johnson said he probably can offer Petty GMS and its drivers the most guidance with public image and sponsors.

“There’s a lot of stuff on the business side that I should be of help,” Johnson said. “One area I feel very comfortable and confident with is operations and competition. The team has done an amazing job. Mike Beam and Joey Cohen have won with a brand new team in Year 1. A lot of exciting things are taking place there that I’m just going to sit back and watch those guys do their thing.”

But he also is thinking about the future as a talent scout to recruit prospects into the pipeline of a team that also races a truck and has ambitions about expanding into other series.

“It’s a hat I’ve never worn before,” Johnson said. “I’ve got to start watching support series races with a different eye now. I really haven’t thought of that yet.”

Q: How often will Johnson be attending races solely as a team owner?

A: Beyond the selected races he will drive, Johnson won’t be at the track weekly. After a full-time IndyCar season in which he often felt pulled in too many directions, he is trying to carve out more time at home with his wife and two daughters.

He also lives about an hour from the team’s shop in Statesville, North Carolina, and plans to be commuting regularly.

“I think there’s a work-life balance I’m trying to achieve,” he said. “I feel initially I’ll be more effective at home, and there’s probably more I can do during the week than standing around at the racetrack. So it will all define itself and we’ll see.

“I’m not a guy to sit still. I have to say I probably don’t know what I’ve gotten myself into, and I mean that in a very positive manner. I know this is home and the industry I’ve grown up in, and I know all my knowledge and resources and contacts apply to this industry. So I’m in the right place for that. But I just don’t know how much time it’s going to require. I think that’s really the big unknown.”

Q: Will the team’s name change to incorporate its new co-owner?