<PAGE>   1
                                                                   EXHIBIT 10.23


                 ADDENDUM TO ASSIGNMENT AND ASSUMPTION AGREEMENT

         The Assignment and Assumption Agreement of even date herewith, made by,
between and among Genuine Golf, LLC ("Assignor"), Philip Kenny ("Kenny"), Brian
Mahoney ("Mahoney"), and Beverly Hills, Ltd. Inc., a Utah corporation
("Assignee"), is hereby supplemented by the following provisions, which shall be
deemed to be a part of said Agreement (the "Agreement") for all purposes:

         A. Upon the execution of the Agreement, and as additional consideration
therefor, Assignee shall cause 250,000 shares of BLTD (restricted) common stock
(the "Shares") to be issued or transferred to Assignor or its designee.

         B. Assignee agrees to cause the restrictions with respect to the Shares
to be removed at the rate of 62,500 for every three full calendar months while
the Agreement remains in effect.

         C. In the event that the Agreement shall be terminated by Assignor
pursuant to Paragraph 9 of the Agreement, Assignor will be entitled to retain
50,000 of the Shares, but shall be obligated to return the remaining 200,000
shares to Assignee. For such purpose, and if necessary in order to effect a
return of said 200,000 shares to Assignee, Assignor hereby irrevocably appoints
Assignee as its attorney in fact, to transfer said shares to Assignee on the
books and records of Assignee and its designated transfer agent, with full power
of substitution in the premises.

         D. If Assignee, FML and/or GGL shall have secured funds for their
respective operations totaling at least $2,500,000 during the period from
February 28, 2000 through July 31, 2000, as described in Paragraph 9 of the
Agreement, then Assignee agrees to reimburse to Kenny the actual costs incurred
in connection with the ownership and operation of each of the two airport stores
comprising the Leased Premises during the period from April 1, 2000 to and
including the date of executing the Agreement, to the extent that such costs
exceed any revenues of each store during the same period, said costs and any
offsetting revenues to be determined separately for each store. Provided,
however, that

                  1. As a condition to reimbursement, Kenny shall provide to
Assignee documentation, to Assignee's reasonable satisfaction, of the costs and
revenues associated with each store with respect to which any reimbursement is
sought;

                  2. The amount to be reimbursed shall not exceed $20,000 per
month for each store (said limitation to be prorated for the partial month from
May 1, 2000 to the date of the Agreement); and

                  3. In the event that, for any reason (other than a termination
pursuant to Paragraph 9 of the Agreement), the parties shall mutually agree that
either (or both) of the stores shall not be retained and continue to be operated
by Assignee, Assignee shall not be obligated to make any reimbursement with
respect to said store (or stores).


                                       1
<PAGE>   2

         IN WITNESS WHEREOF, the parties hereto have executed this Addendum as
of the ____ day of May, 2000.


                                   GENUINE GOLF, LLC

                                   By Diversity Holdings, LLC,
                                   Its Manager

                                   By: /s/ Brian Mahoney
                                      -----------------------------------------
                                      Brian Mahoney, its manager



                                   /s/ Philip Kenny
                                   --------------------------------------------
                                   Philip Kenny

                                   /s/ Brian Mahoney
                                   --------------------------------------------
                                   Brian Mahoney



                                   BEVERLY HILLS, LTD.

                                   By:  /s/ Marc Barhonovich
                                      -----------------------------------------
                                      Marc Barhonovich, President



                                       2