$400 million worth Maury Gallagher’s GMS Racing announces exit from the NASCAR Truck Series at the end of 2023

GMS Racing has been active since 2012, when they entered the ARCA series.

$400 million worth Maury Gallagher’s GMS Racing announces exit from the NASCAR Truck Series at the end of 2023

GMS Racing Truck (Credits: Jayski)

GMS Racing has just recently announced that they will cease all operations at the end of the 2023 season. Their sister organization, GMS Fabrication, will also close its doors simultaneously. GMS Racing was founded in 2012 as an ARCA Menards Series competitor before joining the Truck Series full-time in 2014.

Maury Gallagher, one of the richest NASCAR team owners, made a statement that thanked the team’s employees, including team president Mike Beam. Gallagher said that while officially closing their operations, the team will aim to finish their journey on a high note and win another Truck Series Championship.

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“During the past nine years, GMS Racing has become one of the top teams in the Truck and ARCA Series garage… I can’t thank Mike enough for all his leadership and hard work. We are looking to finish out this year on a high note and close our legacy in this era with another Truck Series championship,” said Gallagher in his statement.

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While on the track, GMS Racing won two Truck Series Championships and three ARCA championships from 68 wins. Their ceasing of operations comes at a time when NASCAR Cup Series operation Legacy Motor Club, owned by Gallagher and Jimmie Johnson, prepares to move to Toyota in 2024.

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GMS Racing’s rise and fall through the years

GMS Racing in the Truck Series
GMS Racing in the Truck Series (Credits: RACER)

Maury Gallagher entered the ARCA Menards Series in 2011 with his team, Gallagher Motorsports. The team renamed itself to GMS Racing in 2014 upon its arrival in the Truck Series. They later expanded to the Xfinity series as well in 2016. The team announced in 2019 that they had started a Chevrolet development program called Drivers Edge Development with JR Motorsports.

In December 2021, Gallagher purchased a majority interest in Richard Petty Motorsports for $19m, following which the team was renamed Petty GMS Motorsports. However, GMS continued to operate independently from Petty GMS, and Richard Petty did not buy into GMS’ Truck and Arca teams.

GMS Racing has now announced its exit from the Truck Series after leaving the Xfinity Series in 2019. Team owner Maury Gallagher made this move after announcing that his other team, Legacy Motor Club, will be partnering with Toyota for the NASCAR Cup Series from 2024 onwards.

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