Motorsport Games loses BTCC license; BARC terminates due to missed obligations

Motorsport Games Inc.

Exclusive BTCC license terminated effective Nov 3, 2023 by BARC due to missed product release and royalty obligations.
Approximately $0.8M in royalties and other sums became immediately due and payable to BARC.
Failure to satisfy obligations included non-release of BTCC gaming/esports products within two years and unpaid minimum guarantees.

item 1.02

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Motorsport Games Inc. terminated BTCC License Agreement with BARC (TOCA) Limited (effective 2023-11-03).

Action: termination
Agreement: license
Counterparty: BARC (TOCA) Limited
Effective: 2023-11-03

Exact text from the filing

terminating the license agreement, dated May 29, 2020, by and between BARC and the Company (the “BTCC License Agreement”). The termination of the BTCC License Agreement was effective as of November 3, 2023.

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Motorsport Games Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-039570

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