Motorsport Games Inc. announced on November 9, 2022, Neil Anderson and Peter Moore, the independent members of the Board and the Audit Committee of the Board, notified the Board of their resignations from the Board, effective immediately, as a result of (i) a disagreement with Motorsport Network LLC (MSN), the majority stockholder of the Company, regarding proposals by such directors to raise additional capital for the Company in one or more transactions that could require stockholder approval and that would be dilutive to MSN, and (ii) the November 7, 2022 written request by MSN, sent in its capacity as majority stockholder of the Company, that such individuals resign from the Board because of such disagreement. The resignations were not over any disagreement with the Company or with other directors of the Company on any matter relating to the Company's operations, policies or practices. On November 9, 2022, Francesco Piovanetti, the independent member of the Board and the Audit Committee of the Board, notified the Board of his resignations from the Board, effective immediately, as a result of (i) a disagreement with the Company and MSN regarding proposals by such director to raise additional capital for the Company in one or more transactions that could require stockholder approval and that would be dilutive to MSN, and (ii) the November 7, 2022 written request by MSN, sent in its capacity as majority stockholder of the Company, that such individual resign from the Board because of such disagreement.

The resignation was not over any disagreement with the Company or with other directors of the Company on any matter relating to the Company's operations, policies or practices. On November 9, 2022, James Allen, a member of the Board, notified the Board of his resignation from the Board, effective immediately, not over a disagreement with the Company on any matter relating to the Company's operations, policies or practices, but so that, given the resignations of the above directors, a new board can be appointed. In connection with the foregoing changes, John Delta, the Company's Interim Chief Financial Officer, resigned, effective November 9, 2022, such position and immediately thereafter, was appointed to the Company's Board of Directors and its Audit Committee to fill the vacancy from one of the above independent directors' resignation.

The Board of Directors determined that Mr. Delta qualifies as an independent director for purposes of the rules and regulations under the Securities Exchange Act of 1934, as amended, and under the applicable NASDAQ listing standards, notwithstanding his brief prior service as Interim Chief Financial Officer from October 4, 2022 to November 9, 2022. The Board of Directors determined that Mr. Delta qualifies to be a Director of the Company and to serve as Chairman of the Board's Audit Committee in light of his experience in the finance and accounting industries, as well as Chairman of the Board's Compensation Committee and Nominating and Governance Committee. As a member of the Company's Board of Directors and as a Chairman of each of the Audit Committee, Compensation Committee and Nominating and Governance Committee.

Dmitry Kozko as Principal Financial Officer and Principal Accounting Officer.