RFK Racing makes an official statement on Team president’s sudden exit from NASCAR: “We are saddened to see him step away”

Longtime president of RFK Racing and one of NASCAR's most influential figures, Steve Newmark, is officially stepping away from the motorsports industry. The 52-year-old executive is set to join the University of North Carolina's Department of Athletics as Executive Associate Athletic Director, beginning August 15.

Newmark's new role marks a full-circle return to his roots in Chapel Hill, where he'll focus on UNC's flagship sports programs' commercial and revenue strategies. He will transition into the Director of Athletics position in 2026, after Bubba Cunningham moves into a senior advisory role.

Following the announcement of his departure, RFK Racing shared the following post on X:

"Thank you for everything, @NewmarkRFK."

The team elaborated further in its formal release:

"Steve (Newmark) has been instrumental in shaping the culture, growth, and success of our organization, and his impact will be felt well into the future. While we are saddened to see him step away from his role as President later this summer, we fully support his decision and are grateful he will remain engaged through the transition."

Newmark leaves behind a decade and a half of executive leadership at RFK Racing. He started as Senior Vice President of Business Operations in 2010, and later succeeded Geoff Smith as president. But his ties to the organization run deeper.

Newmark had served as counsel for Roush Fenway Racing throughout the early 2000s, guiding the team's landmark 2007 partnership with Fenway Sports Group. Newmark's tenure also coincided with several high-impact developments for RFK Racing.

Brad Keselowski with co-owner Jack Roush after the 2022 NASCAR Cup Series Daytona Duel #1. Source: Getty

The team has made the NASCAR Playoffs in nine of the 15 seasons under him. He was also a key figure during RFK Racing's 2021 rebrand, overseeing Brad Keselowski's addition as a driver-owner and reshaping the organization into Roush Fenway Keselowski Racing.

More importantly, Newmark led RFK Racing through NASCAR's generational shift of charter negotiations, Next Gen transition, and team sustainability initiatives, cementing his status as a transformative figure behind the scenes. The team currently fields three Cup entries. Brad Keselowski drives the No. 6 Ford, Chris Buescher the 17, and Ryan Preece the 60.

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After RFK Racing, Steve Newmark's next chapter begins at UNC: "Looking forward to going back to Blue Heaven"

(L-R) Jill Gregory, Jim Cassidy, Daryl Wolfe, Mike Burch, Dave Alpern, and Steve Newmark, President of Roush Fenway Racing, during the 2017 NASCAR Marketing and Communications Summit. Source: Getty

Before becoming a key figure in NASCAR's business world, Steve Newmark made his impact in sports law. A graduate of the College of William and Mary and the University of Virginia School of Law, Newmark focused on sports and entertainment at the Charlotte-based firm Robinson, Bradshaw and Hinson. His work included advising Ray Evernham during the sale of Evernham Motorsports, as well as handling NCAA and conference-level legal issues.

Now, after 15 years in NASCAR, he returns to the collegiate space, but this time in a more executive, forward-looking capacity. Shortly after the official announcement, Newmark wrote on X:

"Grateful for a wonderful ride at @RFKracing and looking forward to going back to Blue Heaven and being part of an amazing academic institution and storied athletics department. @GoHeels"

At Carolina, his role is already being shaped by urgent challenges facing modern college athletics - revenue sharing, NIL strategy, collective consolidation, and athletic department restructuring.

Over the last year, AD Bubba Cunningham has initiated sweeping changes. He oversaw the hiring of General Managers for key sports, created the Excellence Fund campaign in partnership with The Rams Club, and recruited the school's first Chief Revenue Officer.

North Carolina Tar Heels' new head coach Bill Belichick (L) shakes hands with athletic director Bubba Cunningham. Source: Imagn

Newmark is uniquely positioned for this transition. Not only is he a Chapel Hill native with deep Carolina ties, he has also been a part of key institutional decisions. He recently served on the advisory committee bringing in Bill Belichick as UNC's new head football coach.

He is also part of the ongoing search committee for the next executive director of The Rams Club, placing him at the center of UNC's athletic ecosystem even before officially assuming office. His new role at Carolina Athletics begins on August 15, but his impact has already begun. For RFK Racing, it's the end of a chapter. For UNC, it's the beginning of a transformative one.