IndyCar Terminates Agreement With Motorsport Games
The IndyCar game from Motorsport Games is officially dead. An SEC filing from November 8, that was made public on November 14 confirms that the racing organization is terminating its two licensing agreements with the Miami-based developer.
The news of the termination comes after the game’s status was up in the air when Motorsport Games laid off the entire development team at its Australian studios.
“INDYCAR LLC stated that its decision to terminate the INDYCAR License Agreements was due to the Company’s 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 filing reads.
In addition, the filing states that Motorsport Games 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 termination of the license agreements, which were signed in July 2021, is effective immediately.
Motorsport Games has now sold the NASCAR license to iRacing while also losing its agreements with BTCC and IndyCar. The company remains in debt without the funds to continue on for the next few months, a sign that things may continue to get worse for the studio.