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iRacing acquires NASCAR's console video game license from Motorsport Games
iRacing has acquired NASCAR's video game console license in a big shakeup for the industry, landing the license from Motorsport Games.
www.sportsbusinessjournal.com
iRacing has acquired NASCAR’s console video game license from Motorsport Games in the biggest shakeup to the sport’s gaming space in nearly a decade. The agreement will be announced later this morning after being finalized in recent weeks by NASCAR Team Properties, Massachusetts-based iRacing and Miami-based Motorsport Games. The main scope of the deal is that 704Games, a subsidiary of Motorsport Games, will transfer the license to iRacing, the company that has largely up until now been known for simulator style racing products for amateur and professional race car drivers, instead of mass-market video games. iRacing, owned by Fenway Sports Group’s John Henry, intends to put out a new NASCAR console video game in 2025. Much as it tried, 704Games and Motorsport Games seemed to never be able to produce a game that met the expectations of NASCAR fans, with negative reviews of graphics and gameplay being an almost annual theme on social media in the days and weeks after a release. The publicly traded Motorsport Games also controls IndyCar’s console video game license but had to delay the release of IndyCar’s first official game with the company this year after running into undisclosed issues. The company has indicated in recent public filings that it may soon run out of operating income and that it was exploring transferring the license as a result.