Document:

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                                                                   Exhibit 10.17

(MERRILL LYNCH LOGO)                                                      WAIVER

Collegiate Pacific Inc.
13950 Senlac Drive, Suite 100
Dallas, Texas 75234

     Re: Waiver of Loan Covenant

Ladies and Gentlemen:

     We refer to the WCMA Loan and Security Agreement No. 585-07067 dated
December 16, 2003, as amended to date (the "Loan Agreement"), between Merrill
Lynch Business Financial Services Inc. ("MLBFS") and Collegiate Pacific Inc.
("Customer") and all other Loan Documents (as defined in the Loan Agreement),
including, without limitation, all other agreements between MLBFS and Customer
or any party who has guaranteed or provided collateral for Customer's
obligations to MLBFS. Capitalized terms used but not defined herein shall have
the meanings assigned to those terms in the Loan Agreement.

Covenant Waiver

     Section 3.3(h) of the Loan Agreement requires that Customer's and Business
Guarantors' aggregate Fixed Charge Coverage Ratio shall at all times exceed 1.30
to 1.00. Customer has advised MLBFS that as of June 30, 2005, Customer's and
Business Guarantors' aggregate Fixed Charge Coverage Ratio was 1.20 to 1.00 (the
"Identified Default"), and Customer has requested that MLBFS waive the
Identified Default.

     In reliance on the representations and warranties of Customer set forth
herein, including, without limitation, that the aggregate Customer's and
Business Guarantors' aggregate Fixed Charge Coverage Ratio as at June 30, 2005
was as set forth above (1.20 to 1.00), MLBFS hereby waives the Identified
Default without exercising any rights or remedies available as a result of the
occurrence thereof. In the event that Customer's and Business Guarantors'
aggregate Fixed Charge Coverage Ratio is determined to be less than 1.20 to 1.00
as of June 30, 2005, this waiver of the Identified Default will, at the option
of MLBFS, be void. Customer and each Business Guarantor acknowledge and agree
that the foregoing waiver is limited precisely as written and, except for the
waiver of the Identified Default, all of the terms and conditions of the Loan
Documents shall remain in full force and effect in accordance with their
respective terms, all of which are hereby ratified and confirmed in all
respects.

Miscellaneous

     The effectiveness of this letter is conditioned on MLBFS's receipt of the
written acceptance of and agreement to this letter by Customer and Business
Guarantors.

<PAGE>

     This letter does not in any manner constitute any waiver of either (a) any
of MLBFS's rights, remedies or powers pursuant to the Loan Agreement or any
other Loan Document or applicable law, or (b) any Default or Events of Default
under the Loan Agreement or the other Loan Documents other than the Identified
Default.

     Customer and the Business Guarantors acknowledge, warrant and agree, as a
primary inducement to MLBFS to enter into this letter, that: (a) no Default or
Event of Default other than the Identified Default has occurred and is
continuing under the Loan Documents, (b) each of the representations and
warranties of Customer in the Loan Documents are true and correct as of the date
hereof and shall be deemed remade as of the date hereof, (c) none of Customer or
any of the Business Guarantors have any claim against MLBFS or any of its
affiliates arising out of or in connection with the Loan Documents or any other
matter whatsoever, and (d) none of Customer or any of the Business Guarantors
have any defense to payment of any amounts owing, or any right of counterclaim
for any reason under, the Loan Documents.

     Provided that no Default or Event of Default other than the Identified
Default shall then have occurred and be continuing under the terms of the Loan
Documents, and the condition specified above shall have been met to our
satisfaction, this letter will become effective on the date (the "Effective
Date") upon which: (a) Customer and the Business Guarantors shall have executed
and returned the duplicate copy of this letter, and (b) an officer of MLBFS
shall have reviewed and approved this letter as being consistent in all respects
with the original internal authorization hereof (as evidenced by the signature
of MLBFS below).

     Notwithstanding the foregoing, if for any reason the Effective Date shall
not occur within 14 days of the date of this letter, then this letter will, at
the sole option of MLBFS, be void.

                                        Very truly yours,

                                        MERRILL LYNCH BUSINESS FINANCIAL
                                           SERVICES INC.

                                        By: /s/ Brian Talty
                                            ------------------------------------
                                        Print Name: Brian Talty
                                        Print Title: VP, Senior Underwriter

Accepted and Agreed:

Borrower:

COLLEGIATE PACIFIC INC.

By: /s/ William R. Estill
-------------------------------------
Print Name: William R. Estill
Print Title: Chief Financial Officer

<PAGE>

Guarantors:

KESSLER TEAM SPORTS INC.

By: /s/ William R. Estill
    ---------------------------------
Print Name: William R. Estill
Print Title: Chief Financial Officer

TOMARK SPORTS INC.

By: /s/ William R. Estill
    ---------------------------------
Print Name: William R. Estill
Print Title: Chief Financial Officer

DIXIE SPORTING GOODS CO., INC.

By: /s/ William R. Estill
    ---------------------------------
Print Name: William R. Estill
Print Title: Chief Financial Officer

CMS OF CENTRAL FLORIDA, INC.

By: /s/ William R. Estill
    ---------------------------------
Print Name: William R. Estill
Print Title: Chief Financial Officer

SALKELD & SONS, INC.

By: /s/ William R. Estill
    ---------------------------------
Print Name: William R. Estill
Print Title: Chief Financial Officer<PAGE>
                                                                   Exhibit 10.18

                                                 Re: 13950 Senlac Drive
                                                     Suites 100 and 200
                                                     Farmers Branch, Texas 75234

                            SECOND AMENDMENT TO LEASE

THE STATE OF TEXAS    Section
                      Section   KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF DALLAS      Section

     THIS SECOND AMENDMENT TO LEASE (this "Amendment") has been entered into as
of the 10th day of February 2003, by THE REALTY ASSOCIATES FUND VI, L.P., a
Delaware limited partnership ("Landlord") and COLLEGIATE PACIFIC, INC., a
Delaware corporation ("Tenant").

                                    RECITALS:

     A. Post-Valwood, Inc. ("Prior Landlord") and Tenant have heretofore
executed that certain Industrial Lease Agreement (the "Original Lease"), last
executed October 26, 2000, as amended by Modification and Ratification of Lease,
dated June 10, 2002, pursuant to which Tenant leased approximately 88,000 square
feet (the "Premises") in that certain building located at 13950 Senlac Drive,
Suites 100 and 200, Farmers Branch, Texas 75234, and more particularly described
in the Lease. The Original Lease, as so amended, is referred to as the "Lease."
Unless otherwise defined herein, all initially capitalized terms will have the
respective meanings assigned thereto in the Lease.

     B. Landlord has acquired the Building and succeeded to all of Prior
Landlord's interest as landlord under the Lease.

     C. Landlord and Tenant desire to execute this Amendment in order to
evidence their agreement to (i) expand the Premises on a temporary basis; and
(ii) make certain other amendments to the Lease, all as more particularly set
forth in this Amendment.

     NOW THEREFORE, in consideration of the foregoing and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Landlord and Tenant agree as follows:

                                    Article I

                               CERTAIN AMENDMENTS

     SECTION 1.01. Expansion Premises. Landlord and Tenant agree and acknowledge
that effective February 1, 2003, the Premises shall be expanded to include
approximately 28,000 square feet of space situated at 13950 Senlac Drive,
Farmers Branch, Texas 75234, as shown in Exhibit A attached hereto, (the
"Expansion Premises"), for the purpose of storing two hundred (200) pallets.

SECOND AMENDMENT TO LEASE - Page 1 of 3

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     SECTION 1.02. Term. Landlord and Tenant agree that the lease term for the
Expansion Premises shall continue on a month to month basis until canceled by
either party with fifteen (15) days prior written notice to the other
("Expansion Premises Termination Date").

     SECTION 1.03. Base Rent. In addition to Base Rent due under the Lease,
Landlord and Tenant agree that effective February 1, 2003, Tenant shall pay
additional Base Rent for the Expansion Premises in the amount of $1,000.00 per
month Gross inclusive of operating expenses and taxes. Notwithstanding the
foregoing, Tenant shall reimburse Landlord monthly for all electric and gas
utility costs.

     SECTION 1.04. AS IS. Tenant will accept the Expansion Premises in its
current "as is" condition; Landlord will have no responsibility to make
improvements to the Expansion Premises during the lease term Upon the Expansion
Premises Expiration Date, Tenant shall return the Expansion Premises to its
original condition.

     SECTION 1.05. Further Amendments. The Lease shall be and hereby is further
amended wherever necessary, even though not specifically referred to herein, in
order to give effect to the terms of this Amendment.

                                   Article II

                                  MISCELLANEOUS

     SECTION 2.01. Ratification. The Lease, as amended hereby, is hereby
ratified, confirmed and deemed in full force and effect in accordance with its
terms. Each party represents to the other that such party (a) is currently
unaware of any default by the other party under the Lease; and (b) has full
power and authority to execute and deliver this Amendment and this Amendment
represents a valid and binding obligation of such party enforceable in
accordance with its terms.

     SECTION 2.02. Notices. All notices to be delivered to Landlord under the
Lease or otherwise with respect to the Premises shall, unless Landlord otherwise
notifies Tenant, be delivered to Landlord in accordance with notice provisions
of the Lease at the following address:

                    c/o TA Associates Realty
                    28 State Street, 10th Floor
                    Boston, Massachusetts 02109
                    Attn.: Asset Manager - Texas Industrial

     SECTION 2.03. Governing Law. This Amendment shall be governed by and
construed in accordance with the laws of the State of Texas.

     SECTION 2.04. Counterparts. This Amendment may be executed in multiple
counterparts each of which is deemed an original but together constitute one and
the same instrument. This Amendment may be executed by facsimile and each party
has the right to rely upon a facsimile counterpart of this Amendment signed by
the other party to the same extent as if such party had received an original
counterpart.

     SECTION 2.05. Calculation. Landlord and Tenant are knowledgeable and
experienced in commercial transactions and agree that the provisions set forth
in this Lease for determining charges, amounts and additional rent payable by
Tenant are commercially reasonable and valid even though such

SECOND AMENDMENT TO LEASE - Page 2 of 3

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methods may not state a precise mathematical formula for determining such
charges. ACCORDINGLY, TENANT HEREBY VOLUNTARILY AND KNOWINGLY WAIVES ALL RIGHTS
AND BENEFITS OF TENANT UNDER SECTION 93.004 OF THE TEXAS PROPERTY CODE, AS SUCH
SECTION NOW EXISTS OR AS MAY BE HEREAFTER AMENDED OR SUCCEEDED.

     IN WITNESS WHEREOF, this Amendment has been executed as of the date and
year first above written.

Dated: January 28, 2003          LANDLORD:

                                 THE REALTY ASSOCIATES FUND VI, L.P.,
                                 a Delaware limited partnership

                                 By: Realty Associates Fund VI LLC,
                                     a Massachusetts limited liability
                                     company, general partner

                                     By: Realty Associates Advisors LLC,
                                         a Delaware limited liability
                                         company, Manager

                                         By: Realty Associates Advisors Trust,
                                             a Massachusetts business trust,
                                             sole member

                                             By: /s/ Henry G. Brauer
                                                 -------------------------------
                                                 Officer

                                 By: Realty Associates Fund VI Texas
                                     Corporation, a Texas corporation,
                                     general partner

                                     By: /s/ Henry G. Brauer
                                         ---------------------------------------
                                         Officer
                                         Henry G. Brauer
                                         Director of Asset Management

Date: January __, 2003           TENANT

                                 COLLEGIATE PACIFIC, INC.,
                                 a Delaware corporation

                                 By: /s/ Art Coerver
                                     -------------------------------------------
                                 Name: ART COERVER
                                 Title: COO

SECOND AMENDMENT TO LEASE - Page 3 of 3

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                                    EXHIBIT A

                               Expansion Premises

                                  (FLOOR PLAN)

EXHIBIT A - Page 1 of 1

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