About Motorsport Network
Motorsport Network is the leading independent media, interactive entertainment, and e-commerce company focused on the motorsport and automotive industries. Every month, approximately 60 million dedicated users visit a Motorsport Network digital property, to buy, to learn, to be entertained, or simply to feed their passion for cars and racing. Motorsport Network sits at the heart of the racing and automotive industries and provides authoritative thought leadership as well as unique experiences for our customers. Motorsport Network puts racing and automotive enthusiasts on a journey that encompasses news and insights, events, tickets, games, and eSports, and leverages the network effect to add value to their experience. Through the use of in-house technology and modern data tools to continuously test, learn, and improve, Motorsport Network’s processes, content creation, and products are constantly evolving to better serve our audience, clients, and partners.
FORWARD-LOOKING AND OTHER CAUTIONARY STATEMENTS
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 Network, LLC (the "Company") and are difficult to predict. Accordingly, the Company does not assume responsibility for the accuracy or completeness of any forward-looking statement and readers should not rely on any forward-looking statements as predictions of future events. These forward-looking statements include, but are not limited to, statements concerning, among other things: (i) the Company’s expectation that Cielsa will drive the Company’s global strategy and lead all of its properties; (ii) the Company’s plans to establish its ecosystem of brands as the world’s leading media, entertainment and e-commerce company for all things motorsports and automotive and to drive the execution of the Company’s business strategies and optimizing the integration and collaboration between its many divisions and offices, to further leverage synergies across the network’s growing ecosystem; and (iii) the Company’s plans to be the leading media and technology platform for the global motorsport and automotive industries and to build the Motorsport Network brand. The Company's actual results may differ materially from such forward-looking statements for a number of reasons. Examples of such risks and uncertainties include, but are not limited to: (i) the Company experiencing difficulties, delays or other disruptions in, or the Company’s inability to achieve its expected results and to pursue its strategy, such as due to, among other things, the Company's business experiencing greater than anticipated disruptions due to the ongoing and prolonged COVID-19 pandemic, its variants and related quarantine and lock-down actions and the related uncertainty or other factors making it more difficult for the Company to maintain relationships with its customers, vendors, business partners and/or other unanticipated circumstances, trends or events affecting the Company's financial performance, including decreased consumer spending in response to the COVID-19 pandemic and its variants and related conditions and restrictions, weaker than expected economic conditions due to the COVID-19 pandemic and its variants and its related restrictions and conditions continuing for periods longer than currently estimated or other weakness in the motorsport industry; (ii) less than expected growth, such as due to less than expected growth in the motorsport industry, such as due to greater than expected customer reluctance to return to racing venues as a result of the ongoing and prolonged COVID-19 pandemic or less than expected consumer spending as a result of economic conditions, such as increasing inflation or growth in unemployment, as well as higher than anticipated costs to achieve such growth or less than expected sources of liquidity to complete such growth plans, in whole or in part; and/or (iii) less than anticipated financial results, such as due to higher than anticipated operating expenses, such as higher than expected acquisition and licensing costs, an increase in corporate taxes and/or employee benefit costs, unexpected payments and costs related to litigation and/or less than anticipated cash generated by the Company's operations and/or other unanticipated circumstances, trends or events affecting the Company's financial performance, including adverse changes in liquidity, access to capital and/or consumer spending. Factors other than those referred to above could also cause Motorsport Network’s results to differ materially from expected results. The Company 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 the Company’s 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, the Company’s websites or any other websites referenced or linked to this press release shall not be incorporated by reference into this press release.
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