Remember the 1992 Hooters 500? The very race that saw Alan Kulwicki, driving the #7 Hooters Ford Thunderbird for his own team, AK Racing, and becoming the second driver-owner after Lee Petty to win a Cup series! His car had “UNDERBIRD” written under the front grills as he believed he was the ultimate underdog of the race. That Winston Cup Championship battle—which was Richard Petty and his “Petty Blue” Pontiac’s last in NASCAR’s highest tourney, and Jeff Gordon’s first—was a neck-to-neck battle. However, as fate would have it, Kulwicki made what was much more than history that day. He rewrote a legacy, and made sure his sponsor’s name would be engraved in the sport forever—courtesy of the Polish Victory Lap that even Chase Elliott didn’t forget after his Texas win in 2024.

But lately, Hooters’ legacy seems to have hit a bump. What was once a brand synonymous with big names, finds itself not just battling a failing business, but a legal repercussion from Hendrick Motorsports due to its “inability to meet its financial obligations”. Unfortunately, just last month it was also reported that the restaurant chain and creditors were looking toward a potential bankruptcy plan in the near future owing to liquidity problems and decreasing customers, and debt of over $370 million.

The legacy brand was also forced to close down approximately 40 “underperforming” restaurants across the country in 2024. Well, doesn’t look like a favorable situation, does it? Well, what if we told you that Chase Elliott’s former partner has a way out of this mess?

As per a press release by the company last week, Hooters has agreed to a Restructuring Support Agreement. This came after deep discussions with prominent stakeholders, and the decision was “near unanimous” with the solution reportedly being a sale transaction “that will facilitate the continued operation of the business under new ownership”. And, once the sale is complete, the new owners will be able to operate over 30% of the domestic franchised Hooters locations “including 14 of the 30 highest volume restaurants”.

Hooters CEO Sal Melilli said in a statement, “Our renowned Hooters restaurants are here to stay. Today’s announcement marks an important milestone in our efforts to reinforce Hooters’ financial foundation and continue delivering the guest-obsessed hospitality experience and delicious food our customers and communities have come to expect. I’ve seen firsthand the incredible value and opportunities our brand brings to life, and I look forward to continuing that momentum well into the future. I’m incredibly grateful to our valued customers, partners, and employees for their continued support.”

So what happens to customers who frequent Hooters, and how will this affect them? The good news is that the restaurants will still remain open and operate like normal. From a business standpoint, Hooters is trying to invest resources in its strongest assets. It also helps that its locations outside the U.S. are not impacted by the bankruptcy. But the words of the Hooters Inc. CEO shed some light on the hope of a comeback.

Hooters Inc. CEO Neil Kiefer said, “With over 30 years of hands-on experience across the Hooters ecosystem, we have a profound understanding of our customers and what it takes to not only meet but consistently exceed their expectations. As we look toward the future, we are committed to restoring the Hooters brand back to its roots and simplifying HOA’s operations by adopting a pure franchise model that will maximize the potential for sustainable, long-term growth. The foundation we’ve laid ensures the continued success of our brand – one that is driven by a relentless focus on delivering an exceptional experience each and every visit for our customers.” 

This makes us hopeful of a highly anticipated return of one of the biggest sponsors in NASCAR history! But, there is a simple question that needs answering…

Will Chase Elliott be Hooters’ NASCAR pick?

To tell the truth, there’s no doubt that the 2020 NASCAR Cup Series champion could have been one of the best picks for the franchise. After all, Hooters will still exist as a restaurant chain and can possibly consider sponsoring him, as ‘Chase Elliott’s Chicken Tenders’ is not off the menu yet. To be precise, any revenue earned at the end of the season could possibly contribute to Hooters’ income. But will Big Man Mr. Rick Hendrick approve of it? Nonetheless, there is a much bigger company already interested in Chase Elliott.

Amazon has already showcased its interest in Elliott and is set to serve as a primary sponsor for the #9 racer through 2027 for three races annually and a full-season associate sponsorship. For now, 2027 might seem far, but we call it today… AMAZON is here to stay! As the media and outreach partner of NASCAR, the company’s foot is only going to get firmer in the sport as time passes. And, if Hooters is looking to be a primary sponsor, their fight is going to be massive. So, what would be the best plan of action if the franchise wants to come back to NASCAR?

For the moment, Hooters should concentrate on getting a sponsor who believes in their cause. Someone young, dynamic, and impressionable, waiting to make a mark on NASCAR. Perhaps someone young like JR Motorsports’ Connor Zilisch, or maybe they can wait for Monster Energy to drop Ty Gibbs because of his racing antics and seize the opportunity! But these are all suggestions and inside jokes. What is going to happen remains uncertain to us as well.