In an unexpected turn of events, Hendrick Motorsports announced on Monday morning that it has ended its long-standing partnership with Hooters. The decision comes after the restaurant chain reportedly failed to meet its business obligations to the race team in recent months.

A statement from Hendrick Motorsports, shared by Kelly Crandall on X, acknowledged Hooters’ valuable contribution since 2017 but cited recent financial difficulties as the reason for the split. “In recent months, however, Hooters has not been able to meet its business obligations to our organization,” the statement read. Despite efforts from both parties to find a solution, the team found it necessary to terminate the relationship.

The partnership had been set for three primary sponsorship races with Chase Elliott in the 2024 NASCAR Cup Series season. Two of these races have already taken place at Atlanta Motor Speedway and Texas Motor Speedway, with Elliott securing a win at the latter – Hooters’ first NASCAR Cup Series victory since Alan Kulwicki’s win in 1992. The third scheduled appearance at Richmond Raceway in the fall will now not materialize.

Speculation about the partnership’s future intensified over the weekend when the Hooters logo was noticeably absent from Elliott’s No. 9 Chevrolet Camaro ZL1 at Nashville Superspeedway. The company had also been removed from the partners page on the Hendrick Motorsports website.

This development comes in the wake of Hooters’ recent announcement on June 25 about the closure of numerous locations across the United States. The company cited the current economic climate and rising operational costs as reasons for these closures.

“Like many restaurants under pressure from current market conditions, Hooters has made the difficult decision to close a select number of underperforming stores,” Hooters stated.

It appears that the restaurant chain is looking to cut costs in various areas, including its sponsorship commitments. The termination of this partnership marks the end of a seven-year relationship between Hooters and Hendrick Motorsports, leaving the team to potentially seek new sponsorship opportunities for the remainder of the 2024 season and beyond.

Image: Chris Stanford/ Hooters of America