INDYCAR terminates license agreements with Motorsport Games effective immediately

Motorsport Games Inc.

INDYCAR LLC delivered notice on Nov 8, 2023 terminating both license agreements dated July 13, 2021.
Termination effective immediately due to alleged failure to make INDYCAR video games available in US and host minimum esports events.
Company is evaluating validity of termination notice and demands for payments under the agreements.
Licenses covered motorsports/racing video game products and esports events themed after the INDYCAR series.

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 INDYCAR License Agreements with INDYCAR, LLC (effective 2023-11-08).

Action: termination
Agreement: license
Counterparty: INDYCAR, LLC
Effective: 2023-11-08

Exact text from the filing

On November 8, 2023, INDYCAR, LLC (“INDYCAR LLC”) delivered a notice to Motorsport Games Inc. (the “Company”) to terminate the two license agreements, each dated July 13, 2021, by and between INDYCAR LLC and the Company (collectively, the “INDYCAR License Agreements”), effective immediately.

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Motorsport Games Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-041093

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