Estimating How Much Hooters Are Paying to Hendrick Motorsports for Chase Elliott Sponsorship Deal

Restaurant company Hooters have recently extended their sponsorship with Chase Elliott and Hendrick Motorsports. The new deal with the ‘most popular’ NASCAR Cup Series driver and his team will reportedly run until 2024.

The Georgia-based company had made their comeback into NASCAR after sponsoring the Georgia-based driver and his team in the 2017 and 2018 seasons. After that, the company extended their sponsorship for three more years. Now, at the end of that deal, they’ve extended the deal for three further years.

The driver admitted Hooters is a ‘fun partner’ to work with.

“They’re a laid-back group that does a great job of promoting their brand and including our team as a big piece of their marketing.”

However, no financial details of the deal have been revealed so far. Though, it is reported that Hendrick Motorsports won’t settle for any number less than a mid-six-figure per race.

“I feel like they make the most of the few races a year, which is hard to do,” Elliott had said in his Twitter video. So purely speculatively, that mid-six-figure number could be between $400,000 to $600,000.

And if Hooters run at least 4 races a year as per ‘the few races’ Elliott mentioned, that’s $2 million a year. This is a lot of money, but it makes sense too.

Because Elliott is one of the most popular drivers in NASCAR today.

The most popular driver of 2021 – Chase Elliott

Having won the title in the last three years, Elliott was recently awarded the most popular driver in NASCAR for the fourth year in a row. The Hendrick driver revealed that the honour is ‘super humbling’.  He said, “Just super grateful to have a lot of great support across the country.”

Elliott described he’s guilty of not realising just how much impact a person in his position can have on a fan looking up to them.

Elliott’s first title as the most popular driver came in the 2018, his second year of being sponsored by Hooters. And since then, his career, his popularity and his profitability have grown steadily.

It’s fair to say that this reported three-year extension with the 2020 champion is the right move by Hooters. And considering the estimated numbers of the deal, it is certainly a great deal for Chase Elliott.

Also Read: Atlanta Braves Fan Chase Elliott Disapproves of Freddie Freeman’s Reported Move to Yankees