Free Trial

Hendrick Motorsports has dropped sponsor Hooters because restaurant chain could not pay team

Driver Chase Elliott is introduced before a NASCAR Cup Series auto race at Sonoma Raceway, Sunday, June 9, 2024, in Sonoma, Calif. (AP Photo/Godofredo A. Vásquez)

CHARLOTTE, N.C. (AP) — Hendrick Motorsports has dropped longtime sponsor Hooters, saying the restaurant chain known for chicken wings and skimpy wait-staff outfits could not meet its financial commitment to the NASCAR team.

Hooters had sponsored the No. 9 car driven by NASCAR Cup Series champion Chase Elliott since 2017.

Hendrick Motorsports thanked Hooters for it contributions since coming on board “to our shared successes both on and of the track.” But it said the chain could not pay its bills.

“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,” the team's statement said.

Hooters has recently closed more than 40 locations around the country, according to multiple reports. Messages left for Hooters public relations firm Cookerly PR by The Associated Press were not immediately returned.

“Like many restaurants under pressure from current market conditions, Hooters has made the difficult decision to close a select number of underperforming stores," the company said, according to Nation's Restaurant News.

Hooters broke into NASCAR in the early 1990s, its logo on the car of late NASCAR series champion Alan Kulwicki. It enjoyed similar success with Elliott, who took the drivers' title in 2020.

___

This story has been updated to correct the formal team name.

___

AP NASCAR: https://apnews.com/hub/nascar-racing

Where should you invest $1,000 right now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

The Next 7 Blockbuster Stocks for Growth Investors Cover

Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Why Whitestone REIT is Outperforming in 2024: 35% Growth & Monthly Dividends
Why SoundHound Stock Dip Could Mean Big Gains for 2025 Investors
Nintendo Stock: Buy Before the 2025 Switch Platform Hits!

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines