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Petty GMS announced Friday that seven-time NASCAR Cup Series champion Jimmie Johnson has entered into an ownership agreement with the team, becoming part-owner of the organization alongside team owner Maury Gallagher and chairman Richard Petty. As part of the agreement, Johnson will return to the NASCAR Cup Series to race in a select number of events in 2023 beginning with the Daytona 500.

Johnson, who retired from full-time Cup Series racing at the end of the 2020 season, returns to NASCAR after spending the past two seasons in IndyCar, including the entire season and his first Indianapolis 500 in 2022. The 47-year old from El Cajon, Calif. retired from full-time racing overall at the end of the season, shifting his focus to racing in major bucket list events while spending more time with his family.

"It's great to be back in NASCAR," Johnson said in a team press release. "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 (team president Mike Beam), Dave (Elenz, crew chief of the No. 43) 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 buying into Petty GMS aligns two of NASCAR's greatest champions, as his seven Cup Series titles are tied for the most all-time with new business partner Richard Petty and the late Dale Earnhardt. Johnson and Petty have also combined for 283 Cup Series victories, with Petty's 200 standing as the most all-time and Johnson's 83 tying him with Cale Yarborough for sixth on the all-time wins list.

Additional details of Johnson's partnership with Petty GMS, including his schedule, sponsors, and car number for 2023 will be revealed at a later date.