Motorsport Games and British Touring Car Championship Announce Settlement and New Licensing Agreement

MIAMI, April 18, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) (the “Company” or “Motorsport Games”), a leading racing game developer, publisher, and esports ecosystem provider of official motorsport racing series throughout the world, is pleased to announce the amicable resolution of its previous licensing dispute with the British Touring Car Championship (BTCC). Both parties have also signed a new non-exclusive license agreement, effective immediately, that reinstates BTCC content in the highly acclaimed rFactor 2 racing simulation until the end of 2026 - renewing the partnership and mutual commitment to deliver exceptional BTCC virtual racing experiences to fans worldwide.

Stephen Hood, CEO of Motorsport Games, expressed his enthusiasm regarding the recent agreement: “We are delighted to have reached an agreement with the British Touring Car Championship (BTCC), resolving our dispute while simultaneously establishing a new licensing agreement. This collaboration not only enables us to enhance our current offerings with BTCC content in rFactor 2 but also lays the foundations for an exciting future collaboration. I have long held the BTCC in high regard and introducing the first fully-fledged experience of this incredible racing series to sim racer’s homes through rFactor 2 was a standout moment. We anticipate a strong relationship with the BTCC in the years ahead.”

BTCC Chief Executive, Alan Gow, said: “The BTCC content within rFactor 2 was incredibly well received by our fans and the sim racing fraternity - so this new agreement provides for our BTCC content to continue to be updated and rolled out through to the end of 2026. I’ve no doubt this news will be very welcomed by sim racers everywhere.”

Current content included in rFactor 2 from the British Touring Car Championship comprises of eight cars, including fan favorites such as the BMW 330e M Sport and the Ford Focus as well as incredible British race tracks such as Brands Hatch, Donington Park and Thruxton.

For further information on rFactor 2 visit www.studio-397.com or the game’s social media channels @rFactor2. You can purchase rFactor 2 through the Steam store page and BTCC content in the game’s item store both from Steam and inside the game.

About Motorsport Games:

Motorsport Games, a Driven Lifestyle Group company, is a racing game developer, publisher and esports ecosystem provider of official motorsport racing series. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make racing games that are authentically close to reality. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including the 24 Hours of Le Mans and the FIA World Endurance Championship, recently releasing Le Mans Ultimate in Early Access. Motorsport Games also owns the industry leading rFactor 2 and KartKraft simulation platforms. rFactor 2 also serves as the official sim racing platform of Formula E, while also powering F1 Arcade through a partnership with Kindred Concepts. Motorsport Games is also an award-winning esports partner of choice for the 24 Hours of Le Mans, creating the renowned Le Mans Virtual Series. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure, and every race inspires.

For more information about Motorsport Games visit: www.motorsportgames.com.

Forward-Looking Statements

Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements.

These forward-looking statements include, but are not limited to, statements concerning the expected British Touring Car Championship (BTCC) content’s attributes, performance, benefits and features, including, without limitation, the benefits and positive attributes of playing BTCC content on rFactor 2 racing simulation. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, without limitation: difficulties, delays in or unanticipated events that may impact the timing and expected benefits of the BTCC content, whether the reveal of BTCC content will be well received and/or successful, whether the final product will meet the expectations of the fans, users and spectators, whether the BTCC content will work well on rFactor 2, whether being able to drive the cars and circuits included in rFactor 2 from the BTCC, including its cars and the British race tracks such as Brands Hatch, Donington Park and Thruxton will be available to motorsport fans and gamers around the world and if such experience will meet the fans’ and games’ expectations, whether motorsport fans and gamers will perceive the cars and/or tracks realistic, whether the BTCC content will be available until the end of 2026, whether Motorsport Games and BTCC will collaborate beyond the current term, whether the BTCC content on rFactor 2 will be a fully-fledged experience or a standout moment, and whether the game development will be a collaborative process, and whether Motorsport Games will have strong relationship with the BTCC in the years ahead. Factors other than those referred to above could also cause Motorsport Games’ results to differ materially from expected results.

Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games’ filings with the Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as well as in its subsequent filings with the SEC. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games’ plans and expectations as of any subsequent date. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Games’ website or other websites referenced or linked to this press release shall not be incorporated by reference into this press release.

Website and Social Media Disclosure

Investors and others should note that we announce material financial information to our investors using our investor relations website (ir.motorsportgames.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website):

The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release.

Contacts:

Investors:
Investors@motorsportgames.com

Media:
PR@motorsportgames.com