When Michael Waltrip proposed to Elizabeth Franks on live television in Victory Circle after winning the Bristol Busch race on April 3, 1993, it was the kind of moment that stops a crowd cold. A NASCAR driver, still in his racing gear, asks the woman he loves to marry him — in front of millions of viewers. That single moment tells you a lot about how Elizabeth Franks entered the public eye. But her story goes far beyond that proposal.
She was not just a driver’s wife. She was a business co-owner, a mother, and a woman who quietly shaped one of NASCAR’s most significant racing operations.
From Monroe, Louisiana, to the Racetrack
Elizabeth “Buffy” Franks was born on April 5, 1967, in Monroe, Louisiana. She is the oldest of three children born to Beverly Louis (BL) and Carol Franks. The family moved from Monroe to Owosso, Michigan, for BL’s job with Georgia Pacific. During Buffy’s junior year of high school, the family moved again to Asheboro, North Carolina, for the same employer.
Those repeated relocations were not easy. Moving schools, building new friendships from scratch, adjusting to new places — all of it built a certain kind of resilience. It also eventually landed her in North Carolina at exactly the right time.
Buffy was in college at the University of North Carolina, getting her Bachelor’s Degree in Business Administration, when she met Michael at a NASCAR-themed eatery frequented by many of the drivers and team members.
That education in business administration would prove relevant later. This was not someone who fell into the racing world accidentally.
Meeting Michael Waltrip and the Road to Marriage
Elizabeth Buffy Franks met Michael Waltrip in August 1992. At the time, Michael was already an established name in stock car racing, competing across multiple NASCAR series. Their relationship moved quickly.
Less than a year later, on April 3, 1993, after Michael’s Bristol Busch race victory, he made his intentions public in the most dramatic way possible — a live television proposal in Victory Circle. They married on November 27, 1993.
Four years into the marriage, the couple welcomed their first daughter, Margaret Carol Waltrip, who was born on September 29, 1997. Margaret, also known as Macy, became central to both their lives and to what would eventually be a painful separation.
Elizabeth Franks as a NASCAR Business Owner
This is the part of her story that most people overlook. Elizabeth Franks was not a passive figure in the Waltrip racing operation. She was a part of it.
Michael Waltrip Racing was formed as a Busch Series team in 1996 with Michael and Buffy Waltrip as co-owners. That co-ownership came with real responsibility — financial, operational, and reputational.
Buffy was named as the car owner of the #55 car, driven by her husband, Michael Waltrip. She was also involved in modeling and advertising jewellery marketed at the NASCAR community and was known for her work with several charities.
Being a car owner in NASCAR is not ceremonial. It carries legal weight. When the #55 car ran into regulatory trouble — specifically when a substance was found in the fuel — Elizabeth, as the listed owner, faced consequences directly. She was docked owner points as a result. That kind of accountability does not come with a purely symbolic role.
Her work on the business side of racing put her in a category rarely discussed: a woman holding formal ownership stakes in a major NASCAR operation during a period when that was genuinely uncommon.
The Decline of Marriage and the 2010 Divorce
By 2008, something had shifted. When Buffy ceased turning up at the racing shop, rumours of the couple’s divorce began to circulate in the public. They made no public appearances and put their home on the market.
In 2010, the couple officially confirmed the divorce. Michael Waltrip has confessed that a racing accident in the 2001 Daytona 500, which left his mentor, Dale Earnhardt, dead, contributed to the divorce.
Michael has spoken about this publicly. According to the New York Times, he texted Buffy in the middle of the night and said he now understood how he had sabotaged the marriage by going around frozen. They remain friendly, he said, but the divorce will be final any day.
That level of honesty is rare in public divorces. It also points to something real: the death of Dale Earnhardt in that 2001 race was not just a career event for Michael. It left a mark that went deep, and Elizabeth was the one living alongside that grief.
Elizabeth Franks was married to Michael for 17 years. After the divorce, Buffy got custody of their daughter.
Life After the Spotlight
Since the divorce, Elizabeth Franks has largely stayed out of public life. She does not maintain active social media accounts. There are no regular press appearances, no public statements. For someone who spent years inside one of NASCAR’s most visible operations, that withdrawal is a deliberate choice.
According to available information, she remarried after the divorce — to Adam Hawthorne — and has continued life outside the racing world. Her daughter, Margaret Carol, grew up away from the cameras, with Elizabeth maintaining that privacy as a clear priority.
This is a woman who built her public identity through marriage to a famous racer, held real business ownership in a major sport, navigated a difficult public divorce with restraint, and then stepped away from all of it on her own terms.
Cultural Position and Legacy
Elizabeth Franks occupies a specific and underexamined place in NASCAR history. Female car owners have always been rare. Her role as co-owner of Michael Waltrip Racing and listed owner of the #55 car put her name on official race documents during a period when women in that position were genuinely unusual.
She was also part of the generation of NASCAR families who helped the sport grow its commercial appeal in the late 1990s and early 2000s. The sport was expanding its audience, moving toward mainstream television, and the families behind the drivers were increasingly part of that story.
Elizabeth’s involvement in jewelry marketing aimed at NASCAR fans showed an understanding of that commercial shift. She was not just adjacent to the business — she was participating in building it.
The Full Picture of Elizabeth Franks
Elizabeth Franks came from a working family that moved repeatedly across the American South and Midwest. She earned a business degree, met a NASCAR driver, built a life inside the sport as both a partner and co-owner, raised a daughter, endured a high-profile divorce with dignity, and then chose privacy over public attention.
That is not the biography of a peripheral figure. It is the biography of someone who made deliberate choices at every stage, including the final one: walking away from the spotlight entirely.
Her years inside NASCAR left a traceable record. Her years since have been, by her own design, much quieter. Both choices reflect the same person.
Quick Facts: Elizabeth Franks
| Detail | Information |
|---|---|
| Full Name | Elizabeth “Buffy” Franks |
| Date of Birth | April 5, 1967 |
| Birthplace | Monroe, Louisiana |
| Education | Bachelor’s Degree, Business Administration, UNC |
| Marriage | November 27, 1993 – 2010 |
| Ex-Husband | Michael Curtis Waltrip |
| Daughter | Margaret Carol Waltrip (born September 29, 1997) |
| NASCAR Role | Co-owner, Michael Waltrip Racing; Car Owner, #55 |
| Current Status | Private life, remarried |
FAQs
Who is Elizabeth Franks?
Elizabeth Franks, also known as Buffy Waltrip, is the former wife of NASCAR driver Michael Waltrip. She served as co-owner of Michael Waltrip Racing and was the listed owner of the #55 race car during their marriage.
When did Elizabeth Franks and Michael Waltrip get married?
They married on November 27, 1993, after meeting in August 1992 in North Carolina. Michael proposed to Elizabeth on live television after winning the Bristol Busch race in April 1993.
Why did Elizabeth Franks and Michael Waltrip divorce?
Their divorce was finalized in 2010 after 17 years of marriage. Michael Waltrip has publicly stated that the emotional aftermath of the 2001 Daytona 500 crash, which killed his mentor, Dale Earnhardt, damaged the marriage significantly.
Does Elizabeth Franks have children?
Yes. She and Michael Waltrip have one daughter together, Margaret Carol Waltrip, born September 29, 1997. Elizabeth was awarded custody of their daughter after the divorce.
What is Elizabeth Franks doing now?
Elizabeth Franks has maintained a private life since her divorce. She reportedly remarried and has stayed away from public appearances and social media.
