Renowned NASCAR crew chief Evernham and former Cup Series team co-owner Kauffman, a two-time Le Mans 24 Hours starter, have created joint venture company IROC Holdings and announced on Monday that they had purchased rights to the IROC brand.
A statement said that "IROC Holdings plans to bring the historic brand back to life".
IROC, which operated from 1973 to 2006, featured some of the greatest racers across the globe, bringing them together to compete in equal equipment on ovals and road courses.
It was originally created by Les Richter, Roger Penske and Mike Phelps, and promoted as an all-star motorsports event in which drivers competed in identically prepared stock cars (most recently the Pontiac Trans Am). Each was set-up by the same team of mechanics in an effort to make the races a test of driver ability.
The drivers invited - typically 12 - came from a broad range of racing disciplines including Formula 1 and sportscars, although were predominantly NASCAR and IndyCar competitors.
Three-time NASCAR Cup Series champion Tony Stewart was the final IROC champion in 2006, before IROC ran into financial difficulties in 2007 and went on hiatus. In March 2008, the series announced it had auctioned off its equipment and cars and the series was discontinued.
Mark Martin won the most titles with five, his most recent coming in 2005. Martin also holds the record for all-time individual IROC race wins (13).
Evernham won three NASCAR Cup titles with driver Jeff Gordon, as well as 47 races. He also helped form the Superstar Racing Experience (SRX) and remains an investor since leaving his position with the series.
His partner in the new venture, Kauffman, was an investor in Michael Waltrip Racing and subsequently Chip Ganassi Racing's NASCAR operation prior to its sale to Trackhouse Racing's Justin Marks.
He finished sixth in the GTE Am class at Le Mans in 2012 alongside Cup racer Brian Vickers and Rui Aguas.
Did you know?
Mark Donohue was the first driver to win an IROC title in 1974. His victory in the fourth and final race of that season was the last of his career before his fatal accident during practice for the 1975 Austrian Grand Prix.
