Motorsport Games Board Resigns - All of Them

  • Thread starter Scaff
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TOCA terminates BTCC game license with MSG.

“It is with regret that TOCA now advise that it has been forced to terminate that agreement forthwith, due to ongoing fundamental breaches of the agreement by Motorsport Games. Having been given sufficient latitude to rectify those contractual breaches, unfortunately Motorsport Games has failed to do so.

In order to protect the reputation and intellectual property of the BTCC, including those of its participants and partners, TOCA had been left with no option but to terminate the agreement and immediately withdraw all licensed BTCC rights that were provided to Motorsport Games under that agreement.

TOCA is aware that this news will come as a huge disappointment to our hundreds of thousands of fans, many of whom were eagerly anticipating the release of a new BTCC game… and we very much share that frustration, due to Motorsport Games being unable to fulfil its contractual commitments.”

I wonder if this will affect the licensed o content in rFactor 2?
 
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I don't think there's commercially enough appetite for a stand-alone BTCC game. No developer would be willing to put forward the degree of resorses it would take to do the title justice considering how far on driving games have come since the TOCA Race Driver games first came out, because they'd never make a profit from it. You could maybe licence BTCC off to be added to other existing titles, but TOCA don't seem to keen in diluting themselves this way. They either don't understand how the genre has moved on, or more likely see no value in underplaying their brand by being 'just' a part of a wider title.
 
PJTierney
Wouldn’t be surprised if the cars show up in Forza Motorsport
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The touring cars are easily the most fun division in Forza right now, so giving them the BTCC license to expand on that even more would be fantastic in my opinion. Especially if it enables them to sneak in a historical car or two.
 
SestoScudo
I hope Lemans ultimate gets cancelled.

Whatever trash motorsport games have should all be cancelled.
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If rumors are true, Le Mans Ultimate is effectively gonna be THE final product from Studio 397 before they too are closed down. As much as the way they handled the Virtual 24h event was awful, I don't like wishing bad things on them due to the people at the very top.
 
SestoScudo
I hope Lemans ultimate gets cancelled.

Whatever trash motorsport games have should all be cancelled.
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I disagree, they've made too much progress on it for getting cancelled to not be a shame. I'm all for laughing at Motorsport Games as a publisher, but wishing ill on the dev's game they're working on just ain't it.
 
Skython
I disagree, they've made too much progress on it for getting cancelled to not be a shame. I'm all for laughing at Motorsport Games as a publisher, but wishing ill on the dev's game they're working on just ain't it.
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I know I spoke harsh about this.

Lemans ultimate will either end up fine or trash as we seen with so many games published by motorsport games.

Since lemans ultimate is published by MS games I wonder how many sales will able to do because MS games image is not really good they managed to piss off everybody.
 
r_outsider
They still claim Feb. 20 for Le Mans Ultimate.. Guess we'll see, but I'm going to be holding off on that preorder...
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At this point, it'll just be Studio 397 on their own (Hopefully not joining them in the ether).
 
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Tired Tyres
Don't kid your self.
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Not exactly sure how big a studio they are but I don't exactly see someone looking at them as lucrative enough to snatch up once MSG bites the dust (Assuming they themselves aren't snapped out of existence either).
 
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RACECAR
Not exactly sure how big a studio they are but I don't exactly see someone looking at them as lucrative enough to snatch up once MSG bites the dust (Assuming they themselves aren't snapped out of existence either).
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They may just go lock stock and barrel with MSG's other assets, presuming there's still something worth buying out after the dust settles. Although with every racing license they used to have mostly being pulled, I dunno what else of worth there would be to anyone outside of other budget developers.

Also i just realized this has been going on for over a year now, talk about a slow motion car crash.
 
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Following a delisting notice in November, the Nasdaq has accepted Motorsport Games’ plan for regaining compliance and enacted a deadline.

The beleaguered developer has been through the wringer of late, but as it gears up for the launch of Le Mans Ultimate in just 13 days, the Nasdaq has extended its stay on the stock market.

On 17th November 2023, Motorsport Games noted that it had received a deficiency letter from the New York-based exchange’s Listing Qualifications Department. Back then, the following items were flagged as potential issues:

  • A stockholders’ equity of $498,897, below the minimum requirement.
  • A market value of listed securities of at least $35 million or net income of $500,000 from continuing operations in the most recently completed fiscal year or in two of the three most recently completed fiscal years.
The owner of Studio 397, and therefore titles such as rFactor 2, was then afforded up to 45 days to submit a plan to regain compliance.

Evidently, that proposal was submitted and now the Nasdaq, according to a recent SEC filing, has given the Miami-headquartered developer until 15th May 2024 to regain compliance and specifically a minimum stockholders’ equity of $2,500,000.

No small task, when MSGM closed yesterday (6th January 2024) at a paltry $2.46, factoring in 2022’s 1-for-10 reverse stock split. Should a delisting be the determined outcome, Motorsport Games still has the option of appealing any decision.
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So they get the chance to get the LeMans game out. This has been a very messy situation. I feel sorry for all of the employees who were not involved in all of the shady stuff and were trying to earn a honest living
 
kjb
So they get the chance to get the LeMans game out.
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It's worth a note here that it's not actually coming out in the true sense. They're launching it to Early Access, with no full release date announced - so you get to pay $30 for an unfinished game...
 
Famine
It's worth a note here that it's not actually coming out in the true sense. They're launching it to Early Access, with no full release date announced - so you get to pay $30 for an unfinished game...
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I didn't realize that. SO you can buy a game that the company may be shut down at any moment? No thank you please :D
 
kjb
I didn't realize that. SO you can buy a game that the company may be shut down at any moment? No thank you please :D
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It's worse than that, you can pay to be a beta tester for a game made by the company that also released NASCAR 21: Ignition that could be shut down at any moment .

Or you can take thirty bucks and light it on fire. Might be more satisfying.

In all seriousness, if I read on the 21st from good sources that it's okay I might grab it. Or not.
 
Given the recent and hilarious debacle of The Day Before, where the most wishlisted game on Steam released in a broken and barely functional state and the game studio closed down four days later, I have to feel that there won't be that many takers for a repeat of that scenario. Especially when we know for certain that this game won't be getting any long-term support unless they somehow sell it on to someone else (cause we all know how well it turns out when another studio picks up a half-finished project).
 
1712247817440.png


KT Racing and Milestone are not exactly names I'd have faith in with a licensed car Racing game given their last respective games. I don't see Codemasters doing this UNLESS they buy out the license AND Studio 397, which frees up Codemasters from doing any work themselves and the game gets the support it needs. Otherwise, I don't exactly see a positive ending in sight here.

Also, hilarious that MSG thinks going to the mobile games is gonna save them when that isn't exactly short of its own list of absolute flops.
 
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KT and Milestone are both unfairly maligned in my book. The WRC games ended up being pretty good and the MotoGP/RIDE games are decent, just samey. If neither of them existed we’d have two less games developers focused on racing games and there aren’t exactly many of them in the first place. I’d trust them both to do a decent solid job and surely it couldn’t be a bad thing?
 
It just feels like their bike games have abit more polish (possibly even enthusiasm) in them then their last WRC games. I'm not saying they shouldn't exist, I just don't know if they would have the heart to be into doing a dedicated Le Mans game as it appears they did or do for Moto GP.
 
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RACECAR
It just feels like their bike games have abit more polish (possibly even enthusiasm) in them then their last WRC games. I'm not saying they shouldn't exist, I just don't know if they would have the heart to be into doing a dedicated Le Mans game as it appears they did or do for Moto GP.
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Fair comment.
Regardless, not a great news story and I hope somebody, somewhere picks up the torch and runs with it.
 

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