In news that saddens many, but surprises no one, Motorsport Games’ latest earnings report shows the damning position the company is in. Along with the company being at risk, this also puts the future of Le Mans Ultimate in danger.
End of the race?
2023 was a turbulent year for Motorsport Games, with 2024 continuing the downward spiral. The company’s 2023 earnings report shows losses of $14.3 million for 2023, with an accumulated debt of $87 million.
If that wasn’t bad enough, the current cash reserve sits at just $1.3 million. This may sound a lot but with a monthly spend of $1.1 million, this could spell the end of Motorsport Games.
The sale of Motorsport Games’ NASCAR licence to iRacing for $6 million did help offset the decline, but with the racing series responsible for 73% of the company’s revenue, this is a major loss. Also, with no other racing titles planned for release in 2024, there’s no sign of where additional revenue could come from to compensate for the loss of NASCAR.
Ultimately, this is very sad news for racing fans. No one wants to see a studio fold, but there appear to be few options ahead of Motorsport Games. This also has fans questioning the future of recent titles, in particular Le Mans Ultimate.
Le Mans Ultimate may never get a full release
At the time of writing, Le Mans Ultimate is still only available in early access. The decision to bring the game to early access was made in order to get the game to market faster, securing a much-needed source of income for Motorsport Games.
With the current state of the company, however, it’s beginning to look as though Le Mans Ultimate may never get a full release. Although Motorsport Games has committed to continue supporting the game, if the company ceases operations that will also spell the end for the endurance racer.
However, there is one potential route that would save the game. If Motorsport Games were to sell off the title, the same as their NASCAR and IndyCar series, then another studio could step in to continue development of Le Mans Ultimate, eventually giving the game the release it deserves.
Could we see the likes of Codemasters, KT Racing, or even Milestone step in to save Le Mans Ultimate? Only time will tell. But with Motorsports Games expected to move into the mobile and free-to-play markets to save the company, it seems Le Mans Ultimate may need to be sold off to survive.
Who do you think would be best to take over Le Mans Ultimate? Let us know in the comments below!
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