DealsJun 25, 2026, 08:36 AM
Agassi Sports Secures Andre Agassi Name & Likeness Rights for 15 Yrs
AI Summary
Agassi Sports Entertainment Corp. entered into a Name and Likeness License Agreement with AKA Licenses, LLC, granting the company non-exclusive, worldwide rights to use Andre Agassi's name, image, and voice for 15 years, with automatic renewals. This agreement supports the company's goal of becoming a leading media and entertainment company in racket sports. In consideration, Agassi Sports will pay a one-time fee of $250,000. Additionally, the company entered into Lock-Up Agreements with investors from its 2024 private placement, incentivizing them to hold shares until December 15, 2026, by issuing warrants.
Key Highlights
- Secured non-exclusive, worldwide license for Andre Agassi's name, likeness, and voice.
- License Agreement with AKA Licenses, LLC, effective June 18, 2026.
- Agreement term is 15 years, with automatic 5-year renewals.
- One-time fee of $250,000 payable to AKA Licenses, LLC.
- Payment due upon raising $3M or within six months of agreement.
- Entered Lock-Up Agreements with 2024 private placement investors.
- Investors granted warrants for 25% of their 2024 shares in exchange for lock-up.
- Lock-up period for investors extends until December 15, 2026.
Price Impact
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