Agassi Sports Entertainment Corp. 8-K

What Happened

• On June 18, 2026, Agassi Sports Entertainment Corp. (AASP) entered into a Name and Likeness License Agreement with AKA Licenses, LLC, the holder of publicity rights for Andre K. Agassi. The Company received a non-exclusive worldwide license to use Agassi’s name, voice, image and likeness for the Company’s business in media, entertainment, wellness, education, commerce and charitable efforts tied to racket sports.
• The agreement includes content-use terms, approval rights, and termination protections, and is attached to the 8‑K as Exhibit 10.1. The filing also references related lock‑up and warrant documentation (Exhibits 10.2 and 4.1).

Key Details

• Agreement date: June 18, 2026; initial term: 15 years with automatic 5‑year renewals unless notice given.
• Fee: No royalties; a one‑time payment of $250,000 payable upon the earlier of (a) the Company raising more than $3,000,000 after the agreement or (b) six months after the agreement date.
• Approval and usage: Company must submit materials using the Name/Likeness for AKA Licenses’ written approval (with limited exceptions for pre‑existing approved uses); AKA Licenses may not unreasonably withhold approval.
• Termination rights: AKA Licenses can terminate for cause (e.g., conduct causing material public disrepute, fraud/criminal charges, certain change‑of‑control transactions without approval, or uncured material breach). Company can terminate if Agassi is convicted of certain felonies or AKA Licenses materially breaches and fails to cure.
• Post‑termination: Company must stop using the Licensed IP within 120 days of termination/expiration and may sell existing inventory bearing the Name/Likeness for up to 180 days.

Why It Matters

• The agreement gives AASP formal rights to use Andre Agassi’s name and likeness for its content and commerce strategy, which could support brand, marketing and product efforts tied to a high‑profile founder and co‑founder.
• The $250,000 delayed one‑time fee and no ongoing royalties reduce near‑term cash burden, while long term licensing and approval provisions and strict termination triggers create both opportunities and operational constraints investors should monitor.
• Related lock‑up and warrant documentation included in the filing may affect shareholder dynamics and potential dilution; investors should review those exhibits for details on investor restrictions and potential equity instruments.