It’s very much the end of an era for NASCAR and RFK Racing as longtime executive Steve Newmark is leaving the sport to take on an Athletic Director in waiting role at the University of North Carolina.
The term confirmed the news in a Tuesday statement.
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“RFK Racing extends its deepest gratitude to Steve Newmark for his remarkable leadership, vision, and steadfast dedication over the past 15 years,” said the team. “Steve 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 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. We wish Steve continues success at the University of North Carolina, and we look forward to building on the strong foundation he’s provided.”
The announcement comes at the same time the school announced a two-year extension for current athletic director Bubba Cunningham, that also comes with a transition role for both. Cunningham will become chancellor next summer while Newmark will initially work on a revenue generating role upon his arrival to Chapel Hill.
Newmark is a Chapel Hill native who most recently served on the advisory committee that saw the school hire six-time Super Bowl winning head coach Bill Belichick in December.
“I’ve been incredibly fortunate to work alongside so many amazing people at RFK Racing over the past 15 years,” Newmark said. “It has been a true privilege to learn from-and represent-Jack Roush and John Henry, and the entire Roush and Fenway organizations. And I firmly believe the RFK team is in a great spot and poised for tremendous success both on and off the track in the years ahead.
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“Now, it’s time for a new chapter. I am heading back home to Chapel Hill to join one of the most respected and successful programs in college sports. I am thrilled to officially become part of UNC Athletics and look forward to joining Tar Heel Nation as we strive for wins and championships across all sports in the evolving landscape of collegiate athletics.”
Before joining what was Roush Racing, Newmark was a legal partner at a Charlotte based law firm that specialized in sports and entertainment and worked with the NCAA, SEC and Conference USA. Within the NASCAR space, Newmark was viewed as a leader within the garage and most recently spearheaded both negotiations with the Sanctioning Body over a charter extension agreement while the team transitioned to the ownership leadership of Brad Keselowski.
