NASCAR Hall of Famer Tony Stewart’s SRX Racing series has recently initiated legal action against Skip Barber Racing, claiming a violation of their agreement. Earlier this year, Skip Barber Racing declared its intention to acquire SRX, but no official confirmation was provided by SRX.
The Superstar Racing Experience (SRX), a stock-car racing series, was established by Tony Stewart and former HMS crew chief Ray Evernham in July 2020. Just before its inaugural season in 2021, Camping World secured the naming rights, leading to the series being branded as the Camping World SRX Series.
Initially, SRX Racing stated it would not return in 2024. However, Skip Barber Racing later revealed plans to take over the series and keep it running. According to SRX, Anthony DeMonte signed an Asset Purchase Agreement on behalf of Skip Barber Racing, with both sides agreeing to refrain from announcing the deal without mutual consent.
Adam Stern, a journalist for Sports Business Journal, reported on the lawsuit, stating that SRX is suing Skip Barber Racing for breaching their agreement and is exploring other options. He shared on X (formerly Twitter):
“The owners of @SRXracing say that they were unable to close a transaction to sell the series to Skip Barber Racing, and they are now suing Skip Barber for breach of agreement and looking at other options.”
The report indicates that Anthony DeMonte and Skip Barber Racing have yet to transfer the agreed-upon funds for the series purchase. Furthermore, it has been revealed that Skip Barber Racing does not currently possess the series or any of its assets.
Market conditions have influenced our plans – SRX Racing’s announcement regarding the delay of their 2024 season.
After wrapping up the 2023 season, SRX Racing revealed they would not be participating in 2024. Shortly thereafter, Skip Barber Racing stepped in to take over SRX, which has now resulted in a legal dispute.
In January, SRX Racing shared an update on their X account, providing clarity on the situation. The official statement read:
“It is with great regret that we announce the postponement of SRX’s fourth season. We approached this next chapter of our racing series with high hopes and enthusiasm for what lay ahead. Unfortunately, our aspirations have been dampened by market conditions that have become insurmountable. We have run out of time to deliver the quality events that our fans, partners, drivers, and tracks rightfully expect.”
NASCAR icon Tony Stewart claimed the championship in SRX’s inaugural season, followed by part-time Truck Series competitor Marco Andretti in 2022. Ryan Newman, a former Cup Series driver, took home the title in the 2023 season.
Memorable moments from the series include the thrilling competition between NASCAR’s legendary father-son duo, former Cup Series champion Chase Elliott and NASCAR Hall of Famer Bill Elliott, at the Nashville Fairgrounds in 2021.
