All right, here's what happened at the end of all this:
Cosmo somehow gets away from the police and stops Spade and Diamond. Ace urges Speed to jump out of his car before its engine blows. At the far end of the track, both Speed's car and Ace's Magic Racer crash. Unbelievably, both emerge on the other side. Ace looks like he's going to be arrested again, but Lieutenant Derek Vega clears him when he tells about Paparazzo coming out of the coma and declaring Ace's innocence. Waterhouse gets arrested, and Black Jack is very upset about his failed plan.