# EDGAR Filing Document

**Accession Number:** 0000930245
**File Stem:** 0001472375-25-000074
**Filing Date:** 2025-7
**Character Count:** 41280
**Document Hash:** 10e71f300adc49b8c49c1438d5f532af
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001472375-25-000074.hdr.sgml**: 20250709

**ACCESSION NUMBER**: 0001472375-25-000074

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250702

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250709

**DATE AS OF CHANGE**: 20250709

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Agassi Sports Entertainment Corp.
- **CENTRAL INDEX KEY:** 0000930245
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-MISCELLANEOUS RETAIL [5900]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 880203976
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-24970
- **FILM NUMBER:** 251112335

**BUSINESS ADDRESS:**
- **STREET 1:** 1120 N. TOWN CENTER DR #160
- **CITY:** LAS VEGAS
- **STATE:** NV
- **ZIP:** 89144
- **BUSINESS PHONE:** 702-400-4005

**MAIL ADDRESS:**
- **STREET 1:** 1120 N. TOWN CENTER DR #160
- **CITY:** LAS VEGAS
- **STATE:** NV
- **ZIP:** 89144

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GLOBAL ACQUISITIONS Corp
- **DATE OF NAME CHANGE:** 20210218

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALL AMERICAN SPORTPARK INC
- **DATE OF NAME CHANGE:** 19990121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SAINT ANDREWS GOLF CORP
- **DATE OF NAME CHANGE:** 19940916

?xml version='1.0' encoding='ASCII'? Filed by Avantafile.com - Agassi Sports Entertainment Corp. - Form 8-K

------

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): July 2, 2025

**AGASSI SPORTS ENTERTAINMENT CORP.**

(Exact Name of Registrant as Specified in its Charter)

---

| | | |
|:---|:---|:---|
| **Nevada** | **000-24970** | **88-0203976** |
| (State or Other Jurisdiction<br>of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |

---

---

| | |
|:---|:---|
| **1120 N. Town Center Dr #160**<br>**Las Vegas, NV** | **89144** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

Registrant's telephone number, including area code: (702) 400-4005

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c))

Securities registered pursuant to Section 12(b) of the Act: None.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company [ ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

---

| | |
|:---|:---|
| **Item 1.01** | **Entry into a Material Definitive Agreement.** |

---

*<u>Statement of Work</u>*

On July 2, 2025, Agassi Sports Entertainment Corp. (the "<u>Company,</u>" "<u>us,</u>" "<u>we,</u>" or "<u>our</u>"), entered into a Statement of Work (the "<u>SOW</u>") with IBM Norge AS ("<u>IBM</u>"), pursuant to which IBM agreed to support, and provide services to the Company in connection with, the Company's goal of launching a state-of-the-art racquet sport experience, including design and digital product concept services.

The SOW sets forth project responsibilities, timelines and milestones. The project is expected to start on July 7, 2025, and to be completed on or before October 30, 2025, and the Company has agreed to pay IBM $75,000 in consideration for services rendered pursuant to the SOW, payable upon the completion of certain project milestones as described in greater detail in the SOW. The SOW may be terminated by either party with 30 days prior written notice.

The foregoing description of the SOW does not purport to be complete and is qualified in its entirety by reference to the full text of the SOW filed with this Current Report on Form 8-K as <u>Exhibit 10.1</u>, and incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure** |

---

On July 9, 2025, the Company issued a press release announcing the engagement of IBM, a copy of which press release is furnished herewith as <u>Exhibit 99.1</u> and is incorporated into this <u>Item 7.01</u> by reference.

In accordance with General Instruction B.2 of Form 8-K, the information under this item and <u>Exhibit 99.1</u> shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing. This report will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of Regulation FD.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Exhibit Description** |
| [10.1\*](exhibit10-1.htm) | [Statement of Work dated July 2, 2025, by and between Agassi Sports Entertainment Corp. and IBM Norge AS](exhibit10-1.htm) |
| [99.1\*\*](exhibit99-1.htm) | [Press Release dated July 9, 2025](exhibit99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

\* Filed herewith.

\*\* Furnished herewith.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **Agassi Sports Entertainment Corp.** | **Agassi Sports Entertainment Corp.** |
|  | By: | */s/ Ronald S. Boreta* |
| Date: July 9, 2025 | Name: | Ronald S. Boreta |
|  | Title: | Chief Executive Officer |

---

------

## Exhibit 10.1

------

**IBM Consulting Services** <br>

**Statement of Work**

**for**

**Agassi Pickleball Experience**

**Prepared for**

***Agassi Racquet Sport Experience***

**120 N Town Center Dr #120**

**Las Vegas, NV 89144, USA**

**July 2, 2025**

Page 1 of 8

**Table of Contents**

---

| | | | |
|:---|:---|:---|:---|
| **[1.](#page_3)** |  | **[Statement of Work Overview.](#page_3)** | **[3](#page_3)** |
| **[2.](#page_3)** |  | **[Project Scope.](#page_3)** | **[3](#page_3)** |
| **[3.](#page_3)** |  | **[Resources and Hours of Coverage.](#page_3)** | **[3](#page_3)** |
| **[4.](#page_3)** |  | **[IBM Responsibilities.](#page_3)** | **[3](#page_3)** |
|  | **[4.1](#page_3)** | **[Project Management](#page_3)** | **[3](#page_3)** |
|  | **[4.2](#page_4)** | **[Project Activities.](#page_4)** | **[4](#page_4)** |
| **[5.](#page_5)** |  | **[Client Responsibilities.](#page_5)** | **[5](#page_5)** |
|  | **[5.1](#page_5)** | **[Client Project Manager.](#page_5)** | **[5](#page_5)** |
|  | **[5.2](#page_5)** | **[Other Client Responsibilities.](#page_5)** | **[5](#page_5)** |
| **[6.](#page_6)** |  | **[Estimated Schedule.](#page_6)** | **[6](#page_6)** |
| **[7.](#page_6)** |  | **[Commercial](#page_6)** | **[6](#page_6)** |
|  | **[7.1](#page_6)** | **[Charges.](#page_6)** | **[6](#page_6)** |
|  | **[7.2](#page_7)** | **[Termination.](#page_7)** | **[7](#page_7)** |
|  | **[7.3](#page_7)** | **[IBM Tools.](#page_7)** | **[7](#page_7)** |
|  | **[7.4](#page_7)** | **[Cross border set up.](#page_7)** | **[7](#page_7)** |

---

Page 2 of 8

**Overview and Approach**

**1. Statement of Work Overview**

This Statement of Work ("SOW") is between Agassi Sports Entertainment ASE (also called "Client" or "Customer") and the IBM legal entity ("IBM"), and incorporates the Agreement identified in the Signature Acceptance section below. Client means and includes the Client company, its authorized users or recipients of the Services.

This SOW describes the Services IBM will provide, IBM responsibilities, related Client responsibilities, and Deliverables IBM will provide.

Changes to this SOW will be processed in accordance with the Project Change Control Procedure described in the Project Procedures appendix. The investigation and implementation of changes may result in modifications to the Estimated Schedule, Charges, and other terms of this SOW and the Agreement.

**2. Project Scope**

To support Client's ambition of launching a state-of-art racquet sport experience, IBM will provide Client with *design and digital product concepting services, aimed* at envisioning a digital interactive solution that will provide pickleball players with match insights, engaging statistics, technique improvement advice, and a community connection ("Services").

This SOW covers Phase 1, in which IBM will collaborate with ASE to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. **Envision the Future Experience**: Develop a high-level vision for the digital experience, focusing on enhancing player engagement and performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. **Create High-Level Designs**: Design key screens for the web experience, ensuring they are intuitive, engaging, and aligned with the envisioned future experience.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. **Identify a High-Level Roadmap**: Outline a strategic roadmap for the evolution of the digital experience over time, including potential features, technologies, and milestones.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. **Create concepts and pitch collateral:** Design storytelling collateral that helps convey the future vision and can be used by ASE towards potential investors and partners.

The activities outlined in this SOW will build upon the concepting work that IBM has conducted prior to this engagement.

This phase will lay the foundation for subsequent development and implementation, ensuring that the final solution meets the needs and expectations of pickleball players and the broader community. Prior to beginning a subsequent phase, IBM will reassess and potentially adjust the scope, schedule, and charges of subsequent phase(s). As appropriate, adjustments will be documented as changes in Project Change Requests (PCRs) and managed through the Project Change Control Procedure. IBM will proceed with work on the subsequent phase(s) once Client has provided written agreement of such PCR(s).

**3. Resources and Hours of Coverage**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Services will be performed remotely, at IBM locations in EU and near or off-shore. IBM and ASE will jointly assess if presence of IBM personnel at client or partner location is required, and travel costs will be charged separately to the Client.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. IBM may use personnel and resources in locations worldwide and third-party suppliers to support the delivery of products and services.

**4. IBM Responsibilities**

**4.1 Project Management**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Review the SOW (including associated documents, and the contractual responsibilities of both parties with the Client Project Manager;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Establish and maintain project communications through the Client Project Manager;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Prepare and maintain the IBM Project Plan which lists the activities, tasks, assignments, milestones and estimates for the performance of this SOW;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Measure, track, and evaluate progress against the project plan, and help resolve any deviations with the Client Project Manager;

Page 3 of 8

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Review the IBM standard invoice format and billing procedure to be used on the project, with the Client Project Manager;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. Work with the Client Project Manager to address and resolve deviations from the IBM Project Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. Conduct regularly scheduled project status meetings with the Client's project team;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. Prepare and submit status reports to the Client Project Manager;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Administer the Project Change Control Procedure with the Client Project Manager; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. Coordinate and manage the technical activities of IBM project personnel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. Work with ASE on a joint PR requiring sign off and approvals from both parties.

**4.2 Project Activities**

IBM will conduct the following activities under this engagement:

**Foundation and Preparation:** 

Utilize the design and concepting work created during the previous phase as the foundation for this project.

**Co-Creation Sessions:** 

Prepare and facilitate between 1 and 3 co-creation sessions with ASE to align on the vision and gather input for the digital experience.

**Screen Design:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Design key screens of the future web experience,
up to a maximum of 6-10 screens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjust the design for up to two separate partner
brands, to be decided jointly with ASE during the co-creation sessions.

**Clickable Prototype:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Create a clickable prototype in Figma based on
the high-level screen designs.

**Promotional Video Adjustment:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjust the promotional video created prior to
this engagement for up to two separate partner brands.

**Digital Experience Roadmap:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Translate the output of the co-creation sessions
into a high-level digital experience roadmap.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Outline recommended next steps on detailed
design and build of the experience

**Working Demo Development:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Collaborate with a technical partner selected by
ASE to build a working demo of the court experience.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The demo will include 2-4 screens in total,
specifically 1-2 screens for the on-court experience and 1-2 screens for the
post-match web-based match overview.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The effort will be limited to a maximum of 160
development hours. IBM, ASE and the selected partner will jointly ensure the
effort is scoped out so as to match this maximum development hours. If
required, a PCR can be created to increase development effort.

**Additional IBM Investment:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• As an IBM investment not priced in this SOW,
translate the earlier created demo of Agassi Intelligence into the web
platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• This will include a Watsonx-based conversational
chatbot that can help players with pickleball-related questions.

These activities will ensure a comprehensive and collaborative approach to envisioning and designing the future digital experience for pickleball players.

Page 4 of 8

**5. Client Responsibilities**

IBM's performance is dependent upon Client's fulfillment of its responsibilities at no charge to IBM. Any delay or idle time in the performance of Client's responsibilities may result in additional charges and/or delay of the completion of the Services and will be handled in accordance with the Project Change Control Procedure.

**5.1 Client Project Manager**

Prior to the start of this project, Client will designate a Client Project Manager to whom all communications relative to this project will be addressed and who will have the authority to act on behalf of Client in all matters regarding this SOW. The Client Project Manager's responsibilities include the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Manage Client personnel and responsibilities for this project;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Serve as the interface between IBM and all Client departments participating in the project;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Administer the Project Change Control Procedure with the IBM Project Manager;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Participate in project meetings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Obtain and provide information, data, and decisions within three (3) working days of IBM's request unless Client and IBM agree in writing to a different response time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. as applicable, review and accept Deliverables submitted by IBM in accordance with the Deliverable Acceptance Procedure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. Help resolve project issues and Client's deviations from the estimated schedule, and escalate issues within Client's organization, as necessary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. Review with the IBM Project Manager any Client invoice/billing requirements. Such requirements that deviate from IBM's standard invoice format or billing procedures may affect the price and be managed through the Project Change Control Procedure.

**5.2 Other Client Responsibilities** 

Client will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. if required, provide safe access, suitable office space, supplies, high-speed connectivity to the Internet, and other facilities needed by IBM personnel while working at the Client's location. The IBM project team will be located in an area adjacent to the Client's project personnel, and all necessary security badges and clearance will be provided for access to this area;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. have Client staff available to provide assistance as IBM reasonably requires and give IBM reasonable access to Client senior management, as well as any members of its staff to enable IBM to provide the Services. Client will provide staff that has the appropriate skills and experience. If any Client staff fails to perform as required, Client will make suitable additional or alternative staff available;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. IBM will not be responsible for any loss, damage, delay, or deficiencies in the Services arising from inaccurate, incomplete, or otherwise deficient information or materials supplied by or on behalf of Client;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. have appropriate agreements in place with third parties whose work may affect IBM's ability to provide the Services. Unless specifically agreed to otherwise in writing, Client is responsible for the management and performance of the third parties, and for any third-party hardware, software or communications equipment used in connection with the Services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. and joint IBM and ASE references in a publicity or marketing communication is to be jointly agreed upon prior to publication

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. agree that IBM may process the business contact information of Your employees and contractors and information about You as a legal entity (contact information) in connection with IBM Products and Services or in furtherance of IBM's business relationship with You. This contact information can be stored, disclosed internally and processed by International Business Machines Corporation and its subsidiaries, Business Partners and subcontractors wherever they do business, solely for the purpose described above provided that these companies comply with applicable data privacy laws related to this processing. Where required by applicable law, You have notified and obtained the consent of the individuals whose contact information may be stored, disclosed internally and processed and will forward their requests to access, update, correct or delete their contact information to IBM who will then comply with those requests;

Page 5 of 8

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. be responsible for determining that any non-IBM products and their integration comply with national building and installation codes and other laws and regulations, including product safety regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. pursuant to any applicable export compliance laws and regulations, Client confirms they will not provide or give access to source code or technology (e.g., specific technical information, including technical data, necessary for the development, design, production, or use of a product) that would restrict or otherwise prohibit IBM from using global resources to provide Cloud Services or other Services. Client will notify IBM and obtain written agreement prior to providing or enabling any such access.

**6. Estimated Schedule**

Services are estimated to start on July 7, 2025. The estimated end date for the Services is on or before October 30, 2025. IBM and ASE can jointly agree to accelerate the project and close it off earlier, if all activities have been performed.

Both parties agree to make reasonable efforts to carry out their respective responsibilities to meet the following estimated schedule.

**7. Commercial**

**7.1 Charges**

The Services will be conducted on a fixed price basis. The fixed price for performing the Services defined in the SOW will be USD 75,000.

This fixed price is exclusive of any travel and living expenses, other reasonable expenses incurred in connection with the Services, and any applicable taxes.

The IBM team will consist of a core team of consultants, namely:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Account Partner

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Design Lead

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Technical Architect

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. UX/UI Designer

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Developer

IBM will invoice ASE monthly for the Services performed on a milestone basis as set forth in the Payment Schedule in the Charges section, plus applicable taxes. IBM will invoice travel and living expenses, and other reasonable expenses incurred in connection with the Services aligned to the payment events below, Travel expenses charged to ASE must be approved by ASE in advance.

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Payment Event** | &nbsp;&nbsp;**Charges** |
| &nbsp;&nbsp;Screen Design completion  | &nbsp;&nbsp;$25 k |
| &nbsp;&nbsp;Digital Experience Roadmap completion | &nbsp;&nbsp;$25 k |
| &nbsp;&nbsp;Working Demo | &nbsp;&nbsp;$25k |
| &nbsp;&nbsp;**TOTAL CHARGES** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$75k |

---

The fixed price for this project is based on a contiguous work schedule. It does not account for schedule delays during the performance of the Services. Any Client caused or required delay in the project schedule will be handled by the Project Change Control procedure and may result in an increase in charges and/or schedule. In such an event, IBM, at its option, may change the resources/skills assigned to the project.

Amounts are due upon receipt of the invoice and payable within 30 days of the invoice from IBM date to an account specified by IBM and late payment fees may apply.

Page 6 of 8

Client agrees to pay all applicable charges specified by IBM, charges for use in excess of authorizations, and customs or other duty, tax, levy, or fee imposed by any authorities resulting from Client's acquisitions under this SOW, and any late payment fees. Client is responsible to provide and keep any Client funding authorization (such as a purchase order) timely and current, with sufficient funding authorization to cover renewals for all charges, including usage and overage charges, to avoid any service disruptions, late payment fees, or Services termination.

**7.2 Termination**

Either party may terminate this Statement of Work by giving the other party not less than 30 days written notice. Upon termination, Client will pay the following amounts to IBM:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. the charges for Services IBM provides and Products IBM delivers through termination, and all Deliverables IBM has prepared through termination, whether or not completed or delivered; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. all costs and expenses IBM incurs in terminating the Services.

For fixed price charges associated with Deliverables or milestones that are partially prepared or completed, the charges for these Deliverables or milestones will be determined by IBM based on (i) a prorated amount calculated as the total charges for the preparation or completion of such Deliverables or milestones as set forth in the SOW, multiplied by the percentage of the period designated in the SOW for the preparation or completion of such Deliverables or milestones that has expired as of the termination date, or (ii) time and materials charges calculated as the number of hours expended by IBM on the preparation or achievement of such Deliverables or milestones at IBM's then-standard rates for these hours.

**7.3 IBM Tools**

IBM will use IBM proprietary and third-party tools (the "Tools"), including artificial intelligence, during the Services to perform certain IBM responsibilities. The Tools and associated documentation: 1) are not provided or made available to Client under this SOW even if Client may view or have access to certain Tools and 2) remain the property of IBM or a third-party, as applicable. If any Tools are installed at Client's environment, Client is not authorized to use the Tools upon completion of the SOW. Client will remove the Tools upon completion of this Statement of Work. The output of any generative artificial intelligence is not a Project Material and when IBM provides such output to Client, IBM does not claim ownership rights to the output.

To the extent Client uses and accesses the Tools, such use and access is subject to the terms applicable to such Tools and to the extent necessary to receive the Services described in the SOW.

**7.4 Cross border set up**

Indirect Taxes means value added, goods and services, consumption, sales, use, revenue and/or turnover taxes calculated as a percentage of gross revenue (excluding income taxes calculated on net income or profit), financial transaction, digital services, export and import taxes or duties, stamp, registration, documentary and property taxes and any other similar charges or contributions, including surcharges on the aforementioned taxes, in each case imposed, collected or assessed by, or payable to, a tax authority or other Governmental Agency.

All charges referred to in this Agreement are expressed as exclusive of all applicable Indirect Taxes. If any Indirect Taxes are payable in relation to any goods, services or other supplies made under or in connection with this Agreement, including the provisioning and fulfilment of such supplies (i) the applicable Indirect Taxes shall be added to any charges payable by Customer; (ii) IBM shall issue an invoice or other billing documentation to Customer in accordance with Applicable Tax Laws; and (iii) as applicable, Customer shall pay or reimburse the amounts of such Indirect Taxes to IBM on or before the due dates for satisfaction of such invoices.

In the event that any withholding or deduction for or on account of tax is required under any law or regulation of any governmental entity or authority, domestic or foreign to be made by Customer in respect of any charge, the sum payable by Customer to IBM shall be increased by the amount necessary to yield to IBM an amount equal to the sum it would have received had no withholdings or deductions been made. Customer warrants that it is registered for Indirect Taxes in the country of the customer contracting entity and that it purchases the IBM services for business use.

Customer agrees to collect and remit Indirect Taxes imposed, collected or assessed by, or payable to, a Tax Authority or Government Agency, to the extent required by local laws or where local laws provide for the customer to account for Indirect Taxes on the supply in the event that IBM is not registered for Indirect Taxes in Customer country. Customer agrees to indemnify and hold harmless IBM and its affiliates and their respective officers, directors, employees and agents, against all liabilities, damages, losses, costs and expenses if Customer fails to pay timely all Indirect Taxes due on IBM's supply to the Customer in accordance with such laws.

Page 7 of 8

In the event that local laws or regulations could require the IBM contracting entity to register for Indirect Taxes in overseas countries, Customer agrees to execute local agreements with local IBM in the applicable overseas country where IBM makes supplies under the Agreement and/ or the customer or customer affiliate receives the supplies. Customer may nominate which Customer entity (namely, Customer or a local Customer Group Member,) executes the Local Service Agreement with the local IBM.

---

| | |
|:---|:---|
| **Agreed to:**<br>Agassi Sports Entertainment Corp ("Client")<br>Organisation number: **88-0203976** | &nbsp;&nbsp;**Agreed to:**<br>International Business Machines AS ("**IBM**")<br>Organisation number: 931 482 580<br>VAT: 931 482 580 MVA |
| By <u>/s/ Ron Boreta</u> <br>Authorized signature | &nbsp;&nbsp;By<u> </u><u>/s/ Niclas Poldahl</u> <br>Authorized signature |
| Title: CEO | &nbsp;&nbsp;Title: Executive Partner |
| Name (type or print): Ron Boreta | &nbsp;&nbsp;Name (type or print): Niclas Poldahl |
| Date: July 2, 2025 | &nbsp;&nbsp;Date: July 2, 2025 |
| Customer number:  | &nbsp;&nbsp;Referenced Agreement name/number/date:  |
| Project Name: **Agassi Court Vision** | &nbsp;&nbsp;SOW number:  |
| **NOTE: If an AECI is required, fill in the field at right. If it is NOT required, DELETE this row.** | &nbsp;&nbsp;Confidentiality Agreement name/number:  |
| Client address: 120 N Town Center Dr #120<br>Las Vegas, NV 89144, USA | &nbsp;&nbsp;IBM address: <br>Postboks 9267 Grønland, 0134 Oslo Lakkegata 53, 0187 Oslo |

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Once signed, please return a copy of this document to the IBM address shown above.

**Required Administrative Information**

Please provide the following to facilitate invoicing and payment of charges and promptly notify IBM of any changes.

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| |
|:---|
| &nbsp;&nbsp;**Invoicing Address:** *Same as above*  |
| &nbsp;&nbsp;**Invoice Payment Contact Name:** *Denise Berninger*  |
| &nbsp;&nbsp;**Invoice Payment Contact Email: Denise@agassisports.com** |

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Page 8 of 8

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## Exhibit 99.1

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**FOR IMMEDIATE RELEASE**

**Agassi Sports Entertainment Engages IBM to Help Elevate Racquet Sports Experience**

Las Vegas, Nevada / July 9, 2025 – Agassi Sports Entertainment Corp. (OTC PINK:AASP), an emerging leader in sports entertainment and innovation, is pleased to announce an exciting collaboration with IBM (NYSE:IBM) which includes the planned use of AI aimed at transforming the digital landscape for various racquet sports worldwide.

As two iconic brands with strong connections to racquet sports, and a shared commitment to excellence, Agassi Sports Entertainment has engaged IBM to help create what Agassi Sports Entertainment believes will be an unrivaled digital experience that caters to players and fans alike. This relationship represents a unique fusion of passion, technology, and innovation that Agassi Sports Entertainment expects will not only enhance the way people engage with racquet sports but will also elevate the sport's overall accessibility and enjoyment.

Our joint efforts are planned to focus on harnessing cutting-edge technology to deliver personalized experiences, insightful data, and interactive features which we believe will resonate with players of all skill levels and redefine the racquet sports experience.

***Key Highlights of the Collaboration***

- *Utilization of AI*: We plan to harness AI technology to analyze player performance and provide actionable recommendations. We believe that this technology, to be branded as Agassi Intelligence, has the potential to revolutionize how players of all levels play and compete.

- *Innovative Digital Solutions*: We further expect to create other groundbreaking tools designed to enhance training, performance tracking, and fan engagement.

- *Community Building*: We aim to foster a vibrant community of racquet sports lovers, encouraging interaction and connection.

- *Accessibility*: Our initiatives will prioritize inclusivity, with the goal of reaching an accessible market of enthusiasts around the world that enjoy the thrill of racquet sports.

Commenting for Agassi Sports Entertainment, CEO Ronald Boreta stated, "We are incredibly excited to work with IBM to develop new technology for the racquet sports industry. Our mission has been to work with best in class operators and as a global leader in the technology sector, we believe IBM enables us to reach new heights toward innovating in this field. It is our belief that there are significant opportunities to grow accessibility to racquet sports worldwide through multiple avenues in these fast moving markets and we look forward to working closely with IBM and other best of class companies on these goals."

Adding to Mr. Boreta's comments, Mr. Andre Agassi, who has been a World Number 1, 8-time Grand Slam winner, and an Olympic Gold Medalist during his Hall of Fame tennis career, stated, "Our ultimate goal with Agassi Sports Entertainment is to grow the racquet sports industry while promoting health and wellness. We are excited to work with a global powerhouse like IBM and believe this is a big step towards achieving that goal. We see huge opportunity in growing these sports worldwide and are excited to work with partners who share our values and vision."

"We're proud to collaborate with Agassi Sports Entertainment and excited to see AI technology used in such an innovative way to enhance the racquet sports experience. This collaboration reflects our commitment to improving the player experience, elevating sports to a new level globally, and helping players become better versions of themselves through the use of AI tools," said Jonathan Wright, Managing Partner, Northern, Central and Eastern Europe, Consulting at IBM.

**About Agassi Sports Entertainment Corp**.

Agassi Sports Entertainment Corp. (OTC PINK:AASP) is a vibrant sports entertainment, content, media, and technology company focused on bringing together sports communities under one brand. We believe we are uniquely positioned to become a leader in the racquet sports space, including pickleball and padel. Our strategy centers on working to consolidate, promote, and grow the highly opportunistic industry through various organic and transactional efforts worldwide.

**About IBM**

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service. For more information, see www.ibm.com.

**Forward-Looking Statements**

This press release includes "forward-looking statements", including information about management's view of the Company's future expectations, plans and prospects. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue" and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, the ability of Agassi Sports Entertainment Corp. (the "Company") to raise funding to support its operational plans, the terms of such financing and potential dilution caused thereby; the ability of the Company to complete the steps necessary to undertake its current operational plan, the costs associated therewith, timing relating thereto, and the ability of the Company to generate revenues associated therewith; the concentration of ownership of the Company's securities; the outcome of the engagement of IBM, as discussed above; the market for the Company's planned services, including the market for pickleball and padel; competition in the Company's industry; the Company's ability to fully comply with numerous federal, state and local laws and regulatory requirements; current negative operating cash flows and a need for additional funding to finance our operating plans; the terms of any further financing, which may be highly dilutive and may include onerous terms, increases in interest rates which may make borrowing more expensive and increased inflation which may negatively affect costs, expenses and returns; geopolitical events and regulatory changes; and the effect of changing interest rates and inflation, economic downturns and recessions, declines in economic activity or global conflicts. These risk factors and others are included from time to time in documents the Company files with the Securities and Exchange Commission, including, but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. These reports and filings are available at www.sec.gov. All subsequent written and oral forward-looking statements concerning the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, including the forward-looking statements included in this press release, which are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward- looking statements. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as otherwise provided by law.

Ron Boreta Director and CEO Agassi Sports Entertainment Corp. 702-400-4005

**SOURCE:** Agassi Sports Entertainment Corp.

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