As of November 14, IndyCar has terminated its licensing agreement with Motorsport Games. An SEC filing made public on November 14 confirms the racing company has decided to terminate the two licensing agreements made with the developer.
IndyCar terminates agreement with Motorsport Games
On November 8, IndyCar delivered a notice to Motorsport Games terminating the two license agreements for the Summer of 2021. The termination would go into effect immediately. According to the filing, the termination comes due to
the Company’s [Motorsport Games] alleged failure to satisfy certain of its obligations under the INDYCAR License Agreements, including making INDYCAR racing series video gaming products available in the United States and facilitating a minimum number of INDYCAR racing series esports events, in each case, as specified in the applicable INDYCAR License Agreement. The Company is evaluating the validity of INDYCAR LLC’s notice of termination, including demands for certain payments under the INDYCAR License Agreements, as well as the Company’s options under the INDYCAR License Agreements.
The news comes following reported turmoil within the developing company, Motorsport Games, a year prior. Additionally, this also follows iRacing’s purchase of the NASCAR licenses from Motorsport as well as Toca terminating their BTCC, British Touring Car Championship, with the developer as well. For a company focusing on officially licensed racing simulation games, this comes as an obvious heavy blow. We’ve received no reported comments from Motorsport at this time. The company’s future certainly seems to be in jeopardy and there does not seem to be any signs of things looking better, especially with IndyCar also filing for payments based on the now-terminated agreements.
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