This is the announcement...Well... that's nice to hear... Nothing about it on their front page or the steam page.
So what are you up for if you renew out of expirement?
We just wanted to remind everyone that if you purchased your iRacing account directly from iRacing (www.iracing.com), you HAVE TO renew through iRacing (and not through Steam or use your Steam Wallet).
Conversely, if you purchased iRacing through Steam, than all purchases, including renewals, must be done through Steam.
This is because iRacing and Steam have two completely separate purchasing processes.
When you purchase iRacing directly through iRacing, then iRacing is the official vendor of record for that iRacing account.
When you purchase iRacing from Steam, then Steam is the official vendor of record for that iRacing account.
If you purchased iRacing directly from iRacing, even if you have linked this iRacing account to your Steam account, you CAN NOT renew it through Steam.
If you tried to renew an iRacing account (that was purchased directly through iRacing) through Steam, you will need to contact Steam Support. https://help.steampowered.com/