Press Release

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Romain Grosjean joins MSGM

Technical Advisor

Joining as a technical advisor, Grosjean will help iterate rFactor 2 and the company’s robust live esports events

MIAMI, March 25, 2022 (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, announces today that current INDYCAR star and former Formula One driver Romain Grosjean has joined the company as an advisor on its games and esports events, with particular focus on the rFactor 2 simulation platform.

In his role as a technical esports advisor for Motorsport Games, Grosjean will bring all of his racing experience together - both real-life and sim - to help develop the company’s industry-leading rFactor 2 racing simulation. Throughout the year, Grosjean will participate in four technical test sessions for rFactor 2, allowing him to provide feedback and recommendations to implement to further enhance the platform. In addition to his help of iterating rFactor 2, Grosjean will also be available to advise on Motorsport Games’ catalogue of esports events, such as the hugely successful Le Mans Virtual Series and the brand new INDYCAR-Motorsport Games Pro Challenge. His deep knowledge of both will prove key in further expanding each offering, as Grosjean has participated in both real-life competitions during his career.

“The link between real-life racing and sim racing continues to get closer and it has become an increasingly important tool for companies, teams and championships throughout motorsport,” said Romain Grosjean. “I’m very happy to be taking on the role of technical advisor for Motorsport Games and can’t wait to help provide feedback on rFactor 2, a simulation that I frequently use. The company has shown through its esports events such as the Le Mans Virtual Series and the recent INDYCAR-Motorsport Games Pro Challenge that it is perfectly placed to provide top esports through its products and events.”

“While Romain’s experience and skill in real-world motorsport is very well known across the world, he has also shown in recent years that he has an in-depth knowledge and experience of esports and sim racing,” said Gérard Neveu, Motorsport Advisor for Motorsport Games. “Therefore, he is a perfect fit for this new role as technical advisor to Motorsport Games and his vast experience will help us immensely as we develop rFactor 2 and further expand our esports events. As he was recently voted the most popular driver on the entire INDYCAR grid through a Global INDYCAR Fan Survey conducted by Motorsport Games’ parent company, Motorsport Network, in conjunction with Nielsen and INDYCAR, we know our players will be thrilled to see Romain more closely involved with the development of both our simulation platform and events. With Romain, we will be able to take our Le Mans and INDYCAR esports events to the next level.”

To keep up with the latest Motorsport Game news visit www.motorsportgames.com and follow on Twitter, Instagram, Facebook and LinkedIn.

About Motorsport Games:

Motorsport Games, a Motorsport Network company, is a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make the joy of racing accessible to everyone. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series across PC, PlayStation, Xbox, Nintendo Switch and mobile, including NASCAR, INDYCAR, 24 Hours of Le Mans, rFactor 2, KartKraft and the British Touring Car Championship (“BTCC”). Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure and every story inspires.

Forward-Looking Statements:

Certain statements in this press release which are not historical facts are 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, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements 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. These forward-looking statements include, but are not limited to, statements concerning: (i) the expected benefits of Motorsport Games’ association with Romain Grosjean including, without limitation, that his vast experience will help Motorsports Games immensely as it develops rFactor 2 and further expand its esports events and that Motorsport Games will be able to take its Le Mans and INDYCAR esports events to the next level. 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 the Company experiencing difficulties and/or delays in developing rFactor 2 and expanding its esports events, such as due to higher than anticipated costs incurred in developing, launching and continuing to enhance and improve such products and/or less than anticipated consumer acceptance of the Company’s products and/or difficulties, delays in or unanticipated events that may impact the timing and scope of developing such products, such as due to difficulties or delays in using its product development personnel in Russia due to Russia’s invasion of Ukraine and the related sanctions, delays and higher than anticipated expenses related to the ongoing and prolonged COVID-19 pandemic and related economic lockdowns and government mandates; unanticipated operating costs, transaction costs and actual or contingent liabilities; adverse effects of increased competition; and unanticipated changes in consumer behavior, including as a result of general economic factors, such as increased inflation. Factors other than those referred to above could also cause Motorsport Games’ results to differ materially from expected results. 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. Factors other than those referred to above could also cause Motorsport Games’ results to differ materially from expected results. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games’ filings with the SEC, which may be found at www.sec.gov and at ir.motorsportgames.com, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, its Quarterly Reports on Form 10-Q filed with the SEC during 2021, Current Reports on Form 8-K filed during 2022, as well as in its subsequent filings with the SEC. 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. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Motorsport Games’ website or other websites referenced or linked to this press release shall not be incorporated by reference into this press release.

Website and Social Media Disclosure:

Investors and others should note that we announce material financial information to our investors using our investor relations website (ir.motorsportgames.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website):

The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release.

Investors: Ashley DeSimone Ashley.Desimone@icrinc.com

Press: ASTRSK PR motorsportgames@astrskpr.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/18859718-8242-4d7a-8950-9e0b52836059