Motorsport Games has confirmed that all of its NASCAR games will be removed from digital storefronts on December 31, 2024. This follows the sale of the NASCAR license to iRacing, which has been finalized. Motorsport Games is not in the best situation due to financial problems, and the latest financial results indicate that the company needs more funds to continue operations next year.
In a statement, Motorsport Games said: “To the NASCAR gaming community! As of December 31, 2024, all NASCAR game titles and their DLC content will no longer be available for purchase on all digital storefronts, but will still be playable after that time. This includes the NASCAR Heat race, NASCAR Rivals and NASCAR Ignition franchise. Be on the lookout for various platform promotions throughout December to add to your collection of NASCAR console games while you can! We sincerely thank our community for the enthusiasm and support you have shown for these games over the years, and we hope you enjoyed racing with us.”
Recent Financial results of Motorsport Games for the third quarter of 2024referring to the company’s problems, saying: “Based on its cash and cash equivalents and average monthly cash burn, the Company believes that it does not have sufficient cash to fund its operations over the next year and that additional financing will be required to continue its operations. To address the lack of liquidity, the Company is actively exploring several options, including, but not limited to: i) additional financing in the form of potential equity and/or debt financing arrangements or similar transactions; ii) other strategic alternatives for its business, including, without limitation, the sale or licensing of the Company’s assets in addition to the recent sale of the NASCAR and Traxion licenses; and iii) further cost reduction and restructuring initiatives.”
Motorsport Games has already seen developer layoffs, and it seems that the company may reconsider such a move if it is unable to secure additional financing and sell other licenses. Motorsport Games currently holds the Le Mans racing license.
Source: X/Motorsport games
