SRX Series Clarification Statement On Proposed Sale To Skip Barber Racing

(Press release from the SRX Series)

On March 13, 2024, Anthony DeMonte 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. 

Contrary to that, and 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.  Consequently, contrary to their false public statements, Skip Barber Racing did not purchase and does not own SRX or any of the series’ assets.

We have filed a lawsuit in Rowan County, North Carolina against Skip Barber Racing and Mr. 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.