Eight months after releasing a statement that it had been acquired by Skip Barber Racing, Superstar Racing Experience is now filing a lawsuit that the announcement was made under false pretenses.
A release from the series on Monday states that Anthony DeMonte, representing the senior management team of Skip Barber Racing, executed an Asset Purchase Agreement on behalf parent company DMS Apex Holding, LLC but SRX claims the agreement was not fully met.
“The Agreement stated that the parties would close the transaction on April 30, 2024. The agreement also stated that the transaction was to be private and neither party would announce the transaction without the prior consent of the other party.”
However, SRX stated that ‘without Superstar’s consent, Skip Barber Racing and DeMonte issued a press release falsely stating that they had acquired SRX.’
“In fact, DeMonte and Skip Barber Racing have failed to pay any amount of the purchase price or otherwise fulfill their promise to close the transaction,” added the release. “Consequently, contrary to their false public statements, Skip Barber Racing did not purchase and does not own SRX or any of the series’ assets.”
The lawsuit has been filed in Rowan County, N.C., against Skip Barber Racing and DeMonte, ‘seeking full damages for their breach of the agreement.’
The statement ends with SRX stating that it is continuing to explore strategic options related to its future.
The racing league contested three seasons of six races from 2021 to 2023 featuring a mix of NASCAR and IndyCar stars of the past and present with cameos from short track aces who represented whichever short track the series visited on any given week.
