Chase Elliott Incurred Losses Worth Millions of Dollar Amid Unmet Business Goals
Hendrick Motorsports recently cut ties with ‘Hooters’, the long-time sponsor of Chase Elliott’s #9 Chevy. A statement from HMS clarified that the sponsor was unable to meet business obligations.
Hooters has been a part of Elliott’s #9 team since 2017 when they signed on as the primary sponsor for two races, which later got extended to three races in 2019. For the 2024 Cup Series season, Hooters’ paint scheme was scheduled to appear for a total of three races, first at Atlanta Motor Speedway, followed by Texas Motor Speedway, and the scheduled race at Richmond Raceway on August 11.
However, rumors of the longtime sponsor leaving the 2020 Cup Series champion Elliott emerged during the recent Nashville weekend. Here’s the official statement released by Rick Hendrick’s organization on the matter (via Kelly Crandall):
“Hooters has been a valued partner of Hendrick Motorsports since 2017, contributing to our shared successes both on and off the track. In recent months, however, Hooters has not been able to meet its business obligations to our organization. Due to these unfortunate and unexpected circumstances, and despite extensive efforts on both sides to identify a workable solution, it became necessary for Hendrick Motorsports to end the relationship. It has been a privilege having Hooters as a part of our team and we wish them the best.”
This development was reportedly linked to the sponsor’s underperformance in the market, following the closure of dozens of restaurants in the States. However, with only one race left with Hooters as the primary sponsor for the #9 Chevy team, the loss of sponsorship may not affect Elliott deeply.
Earlier this season, Elliott broke the ‘Hooters Curse’ with a win at Texas Motor Speedway, ending a decades-long winning drought for the NASCAR sponsor.
Chase Elliott ended his year-and-a-half-long winning drought after taking the checkered flag at the AutoTrader EchoPark Automotive 400 at Texas Motor Speedway. The win confirmed Elliott’s berth in the playoffs and was the first win by a Hooters-sponsored team since former NASCAR Cup Series champion
Alan Kulwicki’s win in 1992. Elliott said in his post-race interview
“Hooters has been a partner of ours for a number of years now. It’s been a dream of mine to pay respect to the late Alan Kulwicki. Driving this car to a victory and doing a ‘Polish Victory Lap.’ Really crazy how things came full circle there in that moment. It was pretty emotional for me. He beat Dad back in the day, and here we are, sharing his sponsor and having an opportunity to win today.”
