The now-defunct Superstar Racing Experience racing series, better known as “SRX,” is surprisingly back in the news on Monday after it announced that it has filed a lawsuit in North Carolina seeking “full damages” for an alleged breach of agreement with Skip Barber Racing, which announced earlier this year that it was buying all assets from SRX.

SRX and Skip Barber announced back in March that Skip Barber Racing was purchasing all assets from SRX and would announce plans for the cars and series at a later date. Everything and anything SRX related had been quiet since that announcement, until Monday.

On Monday morning, SRX posted a press release on the social media site “X” (formerly Twitter), announcing that it was filing a lawsuit in Rowan County, North Carolina against Skip Barber Racing due to an alleged failure to execute the “Asset Purchase Agreement” to purchase SRX. The press release alleges that the sale to Skip Barber racing was supposed to be completed on April 30, 2024, but allegedly did not take place.

“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 (Anthony) 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.”

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— Superstar Racing Experience (@SRXracing) August 26, 2024

The final sentence of the press release also states that SRX is continuing to “explore strategic options as it relates to the future of SRX.”

SRX was founded by three-time NASCAR Cup Series champion Tony Stewart and three-time NASCAR Cup series championship-winning crew chief, Ray Evernham. SRX was meant to be similar to the IROC series, in that it brought drivers from a variety of different disciplines together to race equally prepared cars on short tracks around the country. 

SRX debuted on June 12, 2021 before a sold-out crowd at Stafford Motor Speedway, a race that was won by six-time NASCAR Whelen Modified Tour champion and Stafford Springs, Connecticut native, Doug Coby. 

The series ran three full seasons and had five of its six races for its fourth season already announced for 2024 when it announced in January that the season was being “postponed.” Following the “postponement,” it was announced that Skip Barber Racing would be acquiring SRX and its assets in March. 

Evernham has since moved on from SRX to try to revive IROC, while Stewart is focused on NHRA Top Fuel drag racing and becoming a father. With that, the future of Superstar Racing Experience remains clouded at best.