Agassi Sports Entertainment Corp (AASP) has entered into a collaboration and licensing agreement with JOOLA, a global leader in table tennis for decades and now a recognized global leader in pickleball.
The partnership aims to develop joint ventures in pickleball, including products, live events, tournaments, wellness projects, and media content distribution.
Under the agreement, the financial terms for which were not disclosed, AASP will be responsible for acquiring rights to brands, logos, trademarks, and name/image/likeness rights of athletes and celebrities. Each venture will be governed by separate definitive agreements with specific financial terms.
Commenting for AASP, CEO Ronald Boreta stated: “We expect this collaboration to be a strategic step for us to grow and influence the pickleball industry worldwide and are excited to be working with JOOLA, a global leader in the sport, to that end. As we’ve stated and continued to demonstrate with this agreement, Agassi Sports Entertainment intends to work with best of class brands with global reach, and JOOLA is that in pickleball and table tennis. We believe that this collaboration is a strong step towards maximizing value for our shareholders. As a publicly-traded company, we believe this effort accelerates our path to commerciality, and our intention of allowing our shareholders to financially participate in the rapidly growing global pickleball industry. Additionally, we are continuing strategic discussions regarding capital market structure in order to increase visibility, liquidity in our shares, and potentially uplist to a national exchange as soon as practicable.”
Agassi added: “I’ve had a long-standing personal relationship with JOOLA and I’m excited to expand that relationship through Agassi Sports Entertainment. By collaborating with JOOLA, a leading global brand in pickleball, we believe we’re in a great position to work together to expand the sport we both love and make it more accessible worldwide, while promoting fun, health, and wellness along the way.”
