Press Release

Motorsport Games IP will appear on the #78 for the first three races

NASCAR Heat #78 Ford Mustang to take to the track at Daytona 500 for Live Fast’s NASCAR Cup Series debut

MIAMI, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, today announced a sponsorship agreement with Live Fast Motorsports which will see Motorsport Games IP appear on the #78 Ford Mustang for the first three NASCAR Cup Series races of the season. This agreement makes Motorsport Games a founding partner for the team with the NASCAR Heat #78, driven by BJ McLeod, taking to the grid for its debut race at the Daytona 500 on February 14^th 2021.

The inclusion of the NASCAR Heat 5 branding on the Live Fast car coincides with the game appearing in Free Play Days on Xbox from February 11-14 allowing gamers to try NASCAR Heat 5, the officially licensed video game for free on the Xbox One family of devices including the Xbox One X.

“We are thrilled to be working with Live Fast Motorsports as it makes its NASCAR Cup Series debut,” said George Holmquist, VP of Marketing at Motorsport Games. “The team reflects a lot of the values we have at Motorsport Games. They are the youngest team owners in NASCAR and grew up playing video games, so this felt like a natural partnership. Being able to promote the game on Free Play Days on Xbox at the same time will also open up NASCAR Heat 5 to a new audience which is always exciting.”

Live Fast Motorsports co-owner, BJ McLeod, who will be driving the #78 said: “I couldn't be more thrilled to compete in the biggest race in America, the Daytona 500, with such an awesome partner. Being a huge fan of racing games and having the opportunity to represent NASCAR Heat 5 is something that I take great pride in. I can't see a better way to kick off our team’s debut season than partnering with Motorsport Games, as well as Free Play Days on Xbox.”

Fellow team co-owner Matt Tifft added: “I am thrilled to have Motorsport Games as our team's founding partner. I first got my interest in NASCAR from playing racing video games, so this is a natural fit for myself and BJ! As the youngest owners in the sport, this is a great connection to our younger fans and we can't wait to have our #78 Ford Mustang on the high banks of Daytona.”

Available now on PlayStation®4, Xbox One and Windows PC, NASCAR Heat 5 features all the official teams, cars and drivers from the 2020 NASCAR Cup Series, as well as the NASCAR Xfinity Series™, NASCAR Gander RV & Outdoors Truck Series™, and Xtreme Dirt Series. A host of gameplay additions and enhancements — including an immersive Career Mode with improved statistics and a new Testing Mode to perfect your set-up for every track — make NASCAR Heat 5 the deepest NASCAR game yet.

For more information about Motorsport Games visit www.motorsportgames.com and follow our social media channels: Facebook, Twitter and LinkedIn.

About Motorsport Games:

Motorsport Games, a Motorsport Network company, combines innovative and engaging video games with exciting esports competitions and content for racing fans and gamers around the globe. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series including NASCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”). Motorsport Games is an award-winning esports partner of choice for NASCAR, 24 Hours of Le Mans, Formula E, BTCC and the FIA World Rallycross Championship, among others.
For more information about Motorsport Games visit: www.motorsportgames.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to what the ultimate impact of the COVID-19 pandemic will have on Motorsport Games and its operations and whether the Company will achieve its goals. Additional examples of such risks and uncertainties include, but are not limited to (i) Motorsport Games’ ability (or inability) to maintain existing, and secure additional, licenses and contracts with the sports series; (ii) Motorsport Games’ ability to successfully manage and integrate any joint ventures, acquisitions of businesses, solutions or technologies; (iii) unanticipated operating costs, transaction costs and actual or contingent liabilities; (iv) the ability to attract and retain qualified employees and key personnel; (v) adverse effects of increased competition on Motorsport Games’ business; (vi) the risk that changes in consumer behavior could adversely affect Motorsport Games’ business; (vii) Motorsport Games’ ability to protect its intellectual property; and (viii) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent registration statement on Form S-1 and current reports on Form 8-K filed by Motorsport Games with the Securities and Exchange Commission. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games’ plans and expectations as of any subsequent date.

Investors:
Ashley DeSimone
Ashley.Desimone@icrinc.com