Rage have given a statement today, confirming what has been flying around the internet for a while, they are closing. The statement revealed that the company did not meet expected sales due to the legal issues concerning various property rights.

"This is a highly regrettable situation and it is obviously extremely disappointing for all concerned that the legal risks could not be overcome sufficiently to achieve the sales of all or parts of the business as going concerns." Said Hunter Kelly.
"Despite the considerable interest we received in the business and our continued efforts to progress this, we were faced with increasing complications posed by the number of licence holders and owners of intellectual property contained within the games which made it illegal to hand over or give access to the information to interested parties."

All four studios have closed down but the remaining 17 staff members are currently looking for the sales of remaining various titles and intellectual property. Whether such games as Rolling (Xbox, PlayStation 2, GameCube, Game Boy Advance), David Beckham Soccer (Xbox, PlayStation 2, GameCube, Game Boy Advance), Lamborghini (Xbox, PlayStation 2, GameCube) and Team SAS (Xbox) will continue to be made and sold is unkown.