NEW YORK — Months after it was announced that the Superstar Racing Experience (SRX) was acquired by Skip Barber Racing, racing series officials are filing a lawsuit.
According to a release by SRX, on March 13, Anthony DeMonte, part of Skip Barber’s senior management team, executed an Asset Purchase Agreement (“Agreement”) on behalf of DMS Apex Holding, LLC d/b/a Skip Barber Racing (“Skip Barber Racing”) to purchase the SRX Superstar Racing Experience series (“SRX”).
“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 in a statement noted 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,” the release continued. “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 release from SRX concluded, stating its organization filed a lawsuit in Rowan County, N.C., against Skip Barber Racing and DeMonte, “seeking full damages for their breach of the agreement.
“Meanwhile, we will continue to explore strategic options as it relates to the future of SRX.”