IndyCar has terminated its license agreements with Motorsport Games, a Securities and Exchange Commission filing revealed this week. In the filing, IndyCar cited Motorsport Games’ “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.”
As a publicly traded company on the Nasdaq Stock Market, Motorsport Games is required to reveal such transactions and business dealings. The filing ends a multi-year saga between IndyCar and Motorsport Games. Development of Motorsport Games’ IndyCar product was suspended earlier this month.
In the filing, Motorsport Games proclaimed it was “evaluating the validity of [IndyCar’s] notice of termination, including demands for certain payments under the [IndyCar agreement].”
The game developer recently lost control of NASCAR’s license to iRacing and TOCA’s British Touring Car Championship has begun a similar process of termination that IndyCar has. That leaves the FIA World Endurance Championship, and with it, the 24 Hours of Le Mans, as the last major motorsports entity standing with Motorsport Games.
Read the full SEC filing HERE.