In a recent turn in the world of motorsports, a North Carolina judge has issued a temporary restraining order preventing the sale of Rick Ware Racing’s NASCAR team to T.J. Puchyr. This measure comes amid an ongoing legal dispute with Legacy Motor Club, owned by Jimmie Johnson. The order, with a validity of 10 days, requires Legacy to post a $5 million bond before the close of business on Friday. Rick Ware Racing’s lawyers had requested a $150 million bond, the agreed-upon price for the purchase between RWR and Puchyr, who was previously one of the founders of Spire Motorsports. The legal dispute arises from an agreement mediated by Puchyr for Johnson’s team to buy one of Ware’s two charters. The conflict centers on which charter was agreed to be sold and whether the agreement is for 2026 or 2027. A charter, essentially a NASCAR franchise, guarantees teams entry into each race and provides financial security. Ware currently uses one of his charters for his son, Cody, and leases a second to RFK Racing. Before reaching an agreement with Legacy, Ware had already agreed with RFK to exchange the charters and lease the other to RFK in 2026. Then, in 2027, Ware planned to sell a charter to Legacy, which has a significant investment from Knighthead Capital Management. Legacy argues that Ware “has shown a willingness to lie to Legacy and the Court about the status of the agreement,” after Puchyr announced his plans to buy the RWR team in June. Judge Clifton Smith issued a verbal order blocking any sale for 10 days. Smith will consider Legacy’s request for a preliminary injunction. Mark Henriques, attorney for Rick Ware Racing, argued that both Ware and Puchyr intend to comply with the agreements, but cannot meet the current terms of the charter purchase for 2026 due to the existing agreement with RFK. RWR and Puchyr have stated that they plan to lease to RFK in 2026 and sell to Legacy in 2027; Legacy claims that if Ware sells to Puchyr, the charters should contractually be sold to Legacy.
Ware’s attorney argued that Ware is trying to stay in business as a one-car team for his son. Puchyr has made it clear that he intends to keep Cody Ware in the lineup after buying Rick Ware’s assets.What we know is that these promises were made and this covert transaction apparently took place and apparently is a binding agreement, although it has not yet been closed.
Keith Forst, Legacy attorney
The trial is scheduled for January, but Legacy has filed a second lawsuit against Puchyr for interfering with its agreement with Ware. Legacy has also terminated its consulting agreement with Puchyr.My clients did exactly what they were at liberty to do, craft an agreement that meets the needs of the entity and enter into a binding transaction that covers the entire business and yet keeps Cody running.
Mark Henriques, attorney for Rick Ware Racing
