{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-035756","form_type":"8-K","ticker":"MSGM","cik":"0001821175","company_name":"Motorsport Games Inc.","filed_at":"2023-10-05T23:59:59+00:00","discovered_at":"2026-05-14T18:03:30.724267+00:00","generated_at":"2026-06-10T04:08:32.362292+00:00","sec_items":["1.01","2.01","8.01","9.01"],"event_type":"m_and_a","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Motorsport Games sells NASCAR simulation license to iRacing for $5M plus deferred payments","bullets":["Sold NASCAR sim-style console license to iRacing for $5M cash at closing plus up to $1M deferred ($500k at 6 months, $500k by Dec 2024).","Net proceeds used to pay NASCAR minimum guarantees: $656k for 2023 and $598k for 2024; company retains limited license to sell legacy games until Dec 2024.","Pro forma shows cash increase of ~$3.8M (to $5.8M) and reduction in net loss by $2.99M for FY2022 and H1 2023.","Company will focus on remaining assets: INDYCAR, rFactor 2, KartKraft, BTCC; plans a comprehensive commercial review of all projects."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-035756","json":"https://secwatch.observer/filing/0001493152-23-035756.json","markdown":"https://secwatch.observer/filing/0001493152-23-035756.md","text":"https://secwatch.observer/filing/0001493152-23-035756.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1821175/000149315223035756/0001493152-23-035756-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1821175/000149315223035756/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T04:08:32.362292+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0d0f857e7474a9bec1be2a5e9dd497aa12974e6b","claim":"Motorsport Games Inc. completed a disposition involving iRacing.com Motorsport Simulations, LLC for $5,000,000 at closing (closed 2023-10-03).","evidence_excerpt":"iRacing paid to 704 $5,000,000 at closing of the transactions contemplated by the Assignment","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1821175/000149315223035756/0001493152-23-035756-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"iRacing.com Motorsport Simulations, LLC"},{"label":"Consideration","value":"$5,000,000 at closing"},{"label":"Closing","value":"2023-10-03"}],"fact_type":"ma_transaction"},{"claim_id":"3157a73267884cee900a48117852904ece214749","claim":"Motorsport Games Inc. entered into Assignment and Assumption Agreement with iRacing.com Motorsport Simulations, LLC valued at $5,000,000 (effective 2023-10-03).","evidence_excerpt":"On October 3, 2023, Motorsport Games Inc. (the “Company”) entered into an Assignment and Assumption Agreement (the “Assignment”) among the Company, 704GAMES LLC, a Delaware limited liability company (successor by merger to 704 Games Company, a Delaware corporation) and a wholly owned subsidiary of the Company (“704”), and iRacing.com Motorsport Simulations, LLC (“ iRacing ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1821175/000149315223035756/0001493152-23-035756-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"iRacing.com Motorsport Simulations, LLC"},{"label":"Value","value":"$5,000,000"},{"label":"Effective","value":"2023-10-03"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}