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Embattled video game publisher Motorsport Game has agreed to a new payment plan to secure rFactor 2 and Le Mans Ultimate developer Studio 397.
While the Durtch outfit is under the stewardship and ownership of Motorsport Games, with the the acquisition announced as complete in May 2021, the final amounts owed to its prior custodian Luminis remain unpaid.
According to Motorsport Games’ financial reporting, as of 30th September 2024, it deferred payment of $0.6 million, plus unpaid accrued interest of $0.3 million, to Luminis International B.V. and Technology In Business B.V. for the purchase of Studio 397.
Today, 26th February 2025, Motorsport Games has published a new agreement that will see $750,000 be paid to Luminis across five instalments. These must be paid commencing 5th March 2025, running through 2nd April, 5th May, 4th June and 3rd July.
Once the full settlement payment plan is complete, Luminis is set to release the remaining Studio 397 stock. It is not clear what would happen, other than this specific agreement being terminated, should the payments not be made.
Motorsport Games is presently reliant on Studio 397-created technology (rFactor 2 and Le Mans Ultimate) following the cessation of NASCAR game development and the cancellation of a KartKraft-based IndyCar project.
It comes at a time when the Nasdaq-listed sim racing company has made great strides with LMU, surpassing 100,000 units sold and, just yesterday, reaching the highest number of concurrent players since it first released.
On the other hand, it is also actively, and publicly, for sale (or looking for significant investment) and estimated a net loss ranging from $2.5 million to $2.9 million for the fourth quarter of 2024.
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