After intending to terminate the license in late 2023, IndyCar has reached a settlement with Motorsport Games, handing the game assets to IndyCar themselves. Hope for a standalone game is rekindled as a result.
UPDATE JUNE 6, 2024
According to Motorsport Games CEO Stephen Hood, the settlement has been completed without iRacing stepping in for the final part of the payments. "The final part of the NASCAR license sale to iRacing is that there is one more payment that iRacing are due to make to Motorsport Games, which at the moment is scheduled for the end of the year. It could be triggered earlier, if we pull the NASCAR games from sale, because we still have the license to sell them until the end of the year."
Essentially, the iRacing payment mentioned in the deal acted as security for IndyCar, as the two entities have a business relationship already. "If Motorsport Games wasn't here tomorrow, they would still get their money", Hood continued. "It was an interesting idea, maybe more complex than it needed to be. But that was all cleared up anyway - we cleared up the remaining payment, so there is nothing outstanding, and the deal is concluded. iRacing are not involved in any capacity."
ORIGINAL ARTICLE MAY 24, 2024
In a rough end to 2023 for Motorsport Games, the company first saw its BTCC license terminated (although both sides have reconciled since), then was served with the notice that IndyCar intended to do the same. MSG was supposed to create standalone games for both series, but failed to fulfill its agreement terms with each of them.
Shortly after this, iRacing brought back IndyCar to its service, including the Indy 500 Special Event due to take place from May 28 to June 2. Having struck a multi-year licensing deal, sim racers hoped that maybe iRacing could deliver a standalone game for the premier US open-wheel racing series.
Fans can get their hopes up again now: A new SEC filing states that Motorsport Games and IndyCar have reached a settlement that will have MSG pay $400,000 instead of an approximate $2.9 million that the company owed the Indianapolis-based racing series. This is to be split into a $250,000 payment to be made by MSG immediately, and another $150,000 payment to be made either by MSG within 30 days of the agreement, or by iRacing until December 31. An option to create the game or the result of other paragraphs regarding the IndyCar license? Time will tell what option is going to go ahead.
Originally, the IndyCar game was supposed to be released in 2023. Image: Motorsport Games
Furthermore, MSG is obligated to work for a smooth handover, according to the settlement. The company is to provide up to 50 hours of consulting "to facilitate the transition of the IndyCar series game development [...] to the software developer of IndyCar's choice."
Who this software developer could be remains unanswered for now, but with iRacing being listed as an option to pay the $150,000 part of the settlement, it could point towards the US-based racing simulation developer. Supposedly, the game (initially supposed to be developed by Motorsport Games Australia) was relatively far along in development already.
Should the IndyCar game finally materialize somewhere down the road, it would be the first standalone game for the US open-wheel series in at least 20 years. IndyCar Series 2005 was released in June 2004 - at the time, the Indy Racing League and ChampCar World Series were still going head-to-head as part of the Split from 1996 to 2008 - a vastly different landscape in American open-wheel racing.
Are you excited for the prospect of the IndyCar game seeing the light of day eventually? Let us know on Twitter @OverTake_gg or in the comments below!
UPDATE JUNE 6, 2024
According to Motorsport Games CEO Stephen Hood, the settlement has been completed without iRacing stepping in for the final part of the payments. "The final part of the NASCAR license sale to iRacing is that there is one more payment that iRacing are due to make to Motorsport Games, which at the moment is scheduled for the end of the year. It could be triggered earlier, if we pull the NASCAR games from sale, because we still have the license to sell them until the end of the year."
Essentially, the iRacing payment mentioned in the deal acted as security for IndyCar, as the two entities have a business relationship already. "If Motorsport Games wasn't here tomorrow, they would still get their money", Hood continued. "It was an interesting idea, maybe more complex than it needed to be. But that was all cleared up anyway - we cleared up the remaining payment, so there is nothing outstanding, and the deal is concluded. iRacing are not involved in any capacity."
ORIGINAL ARTICLE MAY 24, 2024
In a rough end to 2023 for Motorsport Games, the company first saw its BTCC license terminated (although both sides have reconciled since), then was served with the notice that IndyCar intended to do the same. MSG was supposed to create standalone games for both series, but failed to fulfill its agreement terms with each of them.
Shortly after this, iRacing brought back IndyCar to its service, including the Indy 500 Special Event due to take place from May 28 to June 2. Having struck a multi-year licensing deal, sim racers hoped that maybe iRacing could deliver a standalone game for the premier US open-wheel racing series.
Fans can get their hopes up again now: A new SEC filing states that Motorsport Games and IndyCar have reached a settlement that will have MSG pay $400,000 instead of an approximate $2.9 million that the company owed the Indianapolis-based racing series. This is to be split into a $250,000 payment to be made by MSG immediately, and another $150,000 payment to be made either by MSG within 30 days of the agreement, or by iRacing until December 31. An option to create the game or the result of other paragraphs regarding the IndyCar license? Time will tell what option is going to go ahead.
Originally, the IndyCar game was supposed to be released in 2023. Image: Motorsport Games
IndyCar Can Choose Studio To Resume Development
More interestingly to sim racers, however, the settlement also includes the transfer of the rights to all licensed intellectual property for the "IndyCar development project for PC, PlayStation and Xbox formats, including the software source code, tools and applications necessary for a professional development team to resume development and production".Furthermore, MSG is obligated to work for a smooth handover, according to the settlement. The company is to provide up to 50 hours of consulting "to facilitate the transition of the IndyCar series game development [...] to the software developer of IndyCar's choice."
Who this software developer could be remains unanswered for now, but with iRacing being listed as an option to pay the $150,000 part of the settlement, it could point towards the US-based racing simulation developer. Supposedly, the game (initially supposed to be developed by Motorsport Games Australia) was relatively far along in development already.
Should the IndyCar game finally materialize somewhere down the road, it would be the first standalone game for the US open-wheel series in at least 20 years. IndyCar Series 2005 was released in June 2004 - at the time, the Indy Racing League and ChampCar World Series were still going head-to-head as part of the Split from 1996 to 2008 - a vastly different landscape in American open-wheel racing.
Are you excited for the prospect of the IndyCar game seeing the light of day eventually? Let us know on Twitter @OverTake_gg or in the comments below!
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