BEST NEWS EVER: F1 super star Chase Elliott’s has been signed and approved for a contract worth $978.8 million amid Hendrick Motorsports Lawsuit…..

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.

This lawsuit comes after a noticeable change in the relationship between the parties involved.

Hendrick Motorsports claims that by late June, Hooters was unable to fulfill its business obligations, which was conspicuously highlighted when the Hooters decal was absent from the associate sponsor position on Elliott’s car during the Nashville race.

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.

William Clyde “Chase” Elliott II, or Chase Elliott, as he is popularly known, is an American racing driver. He won the 2020 NASCAR Cup Series, becoming the third-youngest racer to do so. Elliott primarily competes in the NASCAR Cup series for Hendrick Motorsports and is a six-time ‘Most Popular Driver’ winner consecutively.