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According to court documents, the restaurant chain, which began its relationship with Elliott and Hendrick in 2017, was obligated under the contract to provide sponsorship payments in four installments of $437,500 each, as per a report from Autoweek.
These payments were scheduled throughout the racing season – with the first due in March, followed by subsequent installments in June, August, and October.
Hooters, however, reportedly failed to follow through after an initial payment of $45,000 in March, leaving an alleged outstanding balance exceeding $1.7 million.
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Hooters’ troubles appear to reach beyond their NASCAR commitments, as evidenced by the company’s announcement in June about closing 44 “underperforming” locations nationwide.
Chase Elliott, amidst this controversy, had secured a notable victory at Texas earlier this year under the Hooters banner. This win marked a significant moment as it was the first victory for Hooters as a primary sponsor since 1992, celebrating a long-awaited triumph since Alan Kulwicki’s win at Pocono.
This news as come during the race weekend at Daytona International Speedway. The dramatic Coke Zero Sugar 400 saw Elliott wrapped up in a crash.
