Hooters: Former NASCAR Sponsor Faces Bankruptcy Rumors amid Amazon Competition

NASCAR fans, buckle up! The racing world is buzzing with news about Hooters, a former billion-dollar NASCAR sponsor, and its financial struggles. After parting ways with Chase Elliott and Hendrick Motorsports in 2024, Hooters is now facing bankruptcy rumors, raising concerns among fans and industry insiders.

Since 2017, Hooters had been a prominent sponsor in NASCAR, but unpaid sponsorship fees totaling over $1.7 million led to a sudden end to its partnership with Elliott and Hendrick Motorsports. This move had significant implications for NASCAR events, as Hooters had sponsored races and was set to sponsor more, affecting the race schedule.

Recent reports indicate that Hooters is in talks with creditors and legal experts to navigate potential bankruptcy filings in the coming months. With debts estimated at $300 million, Hooters is looking to restructure its business through bankruptcy court proceedings, aiming to find a way out of its financial woes.

In the midst of Hooters’ challenges, a new sponsor has emerged to support Chase Elliott. Coca-Cola has stepped in as the primary sponsor for Elliott’s No. 9 Chevrolet, with Amazon Prime Video partnering with Hendrick Motorsports as a primary sponsor for Elliott from this season through 2027. The collaboration has sparked excitement among stakeholders, with Prime Video’s sponsorship expected to bring significant attention to the races.

With Prime Video sponsoring three primary races each year, NASCAR fans can expect fresh energy and excitement on the track. Elliott’s new collaborations mark a transition from the Hooters era to the Prime Video era in NASCAR, setting the stage for a dynamic season ahead. Let’s rev up those engines and see what unfolds on the tracks this year!