P1racenews AI automatic summary:
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 satis…
According to a recent filing with the Securities and Exchange Commission, IndyCar has terminated its license agreements with Motorsport Games. The termination was due to Motorsport Games’ failure to meet certain obligations, including the availability of IndyCar video gaming products in the United States. Motorsport Games, as a publicly traded company, is required to disclose such information. This marks the end of a long-standing relationship between the two parties, as development of Motorsport Games’ IndyCar product was halted earlier this month. Motorsport Games is now evaluating the validity of the termination notice and the demands for payments. It is worth noting that Motorsport Games has already lost control of NASCAR’s license and is going through a similar process with TOCA’s British Touring Car Championship. The FIA World Endurance Championship, including the prestigious 24 Hours of Le Mans, remains the only major motorsports entity still associated with Motorsport Games.
