IRacing Acquires NASCAR Team Properties' Exclusive Simulation-Style Console Racing Game License

6 October 2023

NASCAR®, iRacing, and Motorsport Games Inc. (NASDAQ: MSGM) ("Motorsport Games") have jointly announced that iRacing has acquired the exclusive simulation-style console racing games license from NASCAR Team Properties (NTP), a subsidiary of Motorsport Games. This transfer of the license has been approved by NTP and marks a significant development, with iRacing set to commence the development of a NASCAR console game, expected to be released in 2025.

Tony Gardner, President of iRacing, expressed their excitement, stating, "When we were presented with the opportunity to acquire the license for the simulation-style NASCAR console game, which was the console game and franchise that we were dreaming about doing, it was an opportunity we couldn't pass up. Having the ability to build a NASCAR console game is a privilege we promise to execute with the utmost care. We look forward to working diligently with NASCAR industry stakeholders to deliver a product that provides an amazing experience for the gaming community and NASCAR fans worldwide."

He further added, "With all the NASCAR game experience, console experience, resources, and technology assets we already have in place, we are in a fantastic position to hit the ground running building a great NASCAR game franchise on the various platforms."

This acquisition strengthens iRacing's longstanding presence in NASCAR, which began in 2010 with a licensed sim racing product. Over the years, iRacing has become a key technical partner of NASCAR, serving as its "official simulation partner." The company currently hosts numerous NASCAR official series on its platform, involving thousands of participants daily, from late models to Cup cars. This includes prestigious events such as the $100,000-to-win eNASCAR Coca-Cola iRacing Series and the eNASCAR iRacing Pro Invitational Series during the COVID-19 pandemic. iRacing has also played a crucial role in helping NASCAR develop new cars and tracks, such as the NextGen car, Busch Light Clash at the Coliseum, and the Chicago Street Race, among others.

Motorsport Games acquired the NASCAR simulation-style console gaming license in 2018 when it gained majority equity in 704Games. The company's current NASCAR titles, including NASCAR Heat 5 and NASCAR Rivals, will remain available and supported by Motorsport Games until 2024.

Stephen Hood, CEO of Motorsport Games, commented on the sale of the NASCAR license, stating, "The sale of the NASCAR license is the result of a thorough, strategic review of where we believe our company should be headed over the longer-term. In our exploration of the sale, we gave due consideration to those companies we believed could develop a great NASCAR game. Both NASCAR and iRacing have been receptive to our proposed change, working with us to architect a positive transition post-sale, and we thank them for their support. We will now concentrate our efforts towards delivering around other IP already in advanced development."

NASCAR has been actively engaging with its fans in virtual and gaming spaces, including launching NASCAR Speed Hub on Roblox, releasing the arcade-style console game NASCAR Arcade Rush, and offering special team decals in Rocket League. They have also announced the development of a mobile game with Hutch and successfully conducted seasons of the eNASCAR Coca-Cola iRacing Series. NASCAR's involvement in gaming extends to partnerships with organizations like Gen.G to create crossover content and build live fan experiences at esports events. Additionally, they have featured Fortnite and Rocket League paint schemes on cars in the NASCAR Cup Series and have expanded their presence on gaming platforms like Discord and Twitch.

Nick Rend, Managing Director Esports and Gaming at NASCAR, emphasized the potential for growth in the gaming space, stating, "NASCAR has the most passionate fans in the world and a vast community that is just as passionate about gaming. What's more, there continues to be tremendous opportunity to connect with millions of potential new fans in the gaming space. iRacing has been an incredible partner and ambassador for the NASCAR industry for more than a decade. We thank Motorsport Games for its efforts over the years and are ready to work with iRacing to deliver a best-in-class simulation-style NASCAR console game that's exciting for the gaming community and allows our fans to connect with the sport in an impactful, meaningful way."