Document:

Form of Letter Agreement

 Exhibit 10.4 
 [FORM OF LETTER AGREEMENT] 
 Sports Properties Acquisition Corp. 
 437 Madison Avenue 
 New York, New York 10022 
 and 
 Banc of America Securities LLC 
 As representative of the underwriters 
 9 W. 57th Street 
 New York, New York 10019 
 Re: Initial Public Offering 
 Ladies and Gentlemen: 
 The undersigned stockholder, officer and/or director of Sports Properties Acquisition Corp., a Delaware corporation (the “Company”), in
consideration of Banc of America Securities LLC (the “Underwriter”) agreeing to underwrite an initial public offering (“IPO”) of the Company’s units (“Units”), each comprised of one share of
the Company’s common stock, par value $0.001 per share (“Common Stock”), and one warrant exercisable for one share of Common Stock (“Warrant”), hereby agrees as follows (certain capitalized terms used herein
are defined in Schedule 1 hereto): 
 1. If the Company solicits approval of its stockholders of a Business Combination, the
undersigned shall vote [FOR FOUNDING STOCKHOLDERS ONLY — (i) all Insider Shares owned by such person and any shares of Common Stock acquired in the IPO in accordance with the majority of the votes cast by the holders of the IPO shares and]
(ii) any shares of Common Stock acquired following the IPO, in favor of the Business Combination. 
 2. If a Transaction Failure occurs,
the undersigned shall take all reasonable actions within such person’s power to cause (i) the Trust Account to be liquidated and distributed to the holders of the IPO Shares as soon as reasonably practicable and, in any event, no later
than the Termination Date, and (ii) the Company to dissolve and liquidate as soon as practicable (the earliest date on which the conditions in clauses (i) and (ii) are both satisfied being the “Liquidation Date”). The
undersigned hereby waives any and all right, title, interest or claim of any kind in or to any liquidating distributions by the Company, except with respect to any of the IPO Shares acquired by the undersigned in connection with or following the
IPO, and any remaining net assets of the Company as a result of such liquidation, and hereby further waives any claim the undersigned may have in the future as a result of, or arising out of, any contracts or agreements with the Company and agrees
to not seek recourse against the Trust Account for any reason whatsoever. [FOR MEDALLION FINANCIAL CORP. ONLY — The undersigned agrees to indemnify and hold harmless the Company against any and all loss, liability, claims, damage and expense
whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) which the Company may become
subject as a result of any claim by any vendors, service providers, providers of financing or other entities that are owed money by the Company for services or financing provided, or contracted for, or products sold to us or the claims of any target
businesses, but only to the extent such vendors, service providers, providers of financing or other entities have not executed waivers or have executed waivers that are held to be invalid or unenforceable, and only to the extent necessary to ensure
that such loss, liability, claim, damage or expense does not reduce the amount in the Trust Account. To the extent required to indemnify the Company hereunder, the undersigned will pay any claims for indemnification directly to the Trust Account.]
[FOR FOUNDING STOCKHOLDERS ONLY — The undersigned hereby agrees that the Company shall be entitled to a reimbursement from the undersigned for any distribution of the Trust Account received by the undersigned in respect of such person’s
Insider Shares.] 
  

 3. [FOR OFFICERS AND DIRECTORS ONLY — In order to minimize potential conflicts of interest which may
arise from multiple affiliations, the undersigned agrees to present to the Company for its consideration, prior to presentation to any other person or entity, opportunities to acquire entities, until the earlier of the consummation by the Company of
a Business Combination, the liquidation of the Company or until such time as the undersigned ceases to be an officer or director of the Company. The undersigned’s obligations to the Company shall be subject to any pre-existing fiduciary or
contractual obligations.] [FOR MEDALLION FINANCIAL CORP. ONLY — In order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present to the Company for its consideration, prior to
presentation to any other person or entity, opportunities to acquire any operating business in the sports, entertainment or leisure industry, the value of which the undersigned reasonably determines exceeds $160 million, until the earlier of the
consummation by the Company of a Business Combination, the liquidation of the Company or until such time as the undersigned ceases to be a stockholder of the Company.] 
 4. The undersigned acknowledges and agrees that the Company will not consummate any Business Combination which involves a company which is affiliated with any of the Insiders. 
 5. [FOR ALL, EXCEPT AS OTHERWISE DISCLOSED IN THE REGISTRATION STATEMENT — Neither the undersigned, any member of the Immediate Family of the
undersigned, nor any Affiliate of the undersigned will be entitled to receive, and will not accept, any compensation for services rendered to the Company prior to, or in connection with, the consummation of the Business Combination; provided that
the undersigned shall be entitled to reimbursement from the Company for their reasonable out-of-pocket expenses incurred in connection with seeking and consummating a Business Combination.] 
 6. [FOR ALL, EXCEPT AS OTHERWISE DISCLOSED IN THE REGISTRATION STATEMENT —The undersigned agrees that none of the undersigned, any member of the
Immediate Family of the undersigned or any Affiliate of the undersigned will be entitled to receive or accept, and the undersigned, on behalf of the undersigned and the aforementioned parties, hereby waives any rights to, a finder’s fee or any
other compensation in the event the undersigned, any member of the Immediate Family of the undersigned or any Affiliate of the undersigned originates a Business Combination.] 
 7. [FOR FOUNDING STOCKHOLDERS ONLY — The undersigned will, as specified in the Securities Escrow Agreement which the Company will enter into with
the undersigned and an escrow agent acceptable to the Company, escrow its, his or her Insider Shares for the period commencing on the Effective Date and ending (i) one year after the consummation of a Business Combination or (ii) the date
on which the Company gives the escrow agent notice that the Company is being liquidated, at which time the escrow agent will destroy such Insider Shares.] 
 8. The undersigned agrees to be a [POSITION] of the Company until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company. The undersigned’s biographical
information furnished to the Company and the Underwriter and attached hereto as Exhibit A is true and accurate in all respects, does not omit any material information with respect to the undersigned’s background and contains all of the
information required to be disclosed pursuant to Item 401 of Regulation S-K, promulgated by the Securities and Exchange Commission. The undersigned’s questionnaire furnished to the Company and the Underwriter is true and accurate in
all respects. 
 9. The undersigned represents and warrants to the Company and the Underwriter that: 
 (a) The undersigned is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or
stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction; 
 (b)
The undersigned has never been convicted of or pleaded guilty to any crime (i) involving any fraud, (ii) relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any
securities, and such person is not currently a defendant in any such criminal proceeding; and 
  

 - 2 - 

 (c) The undersigned has never been suspended or expelled from membership in any
securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked. 
 10. The undersigned has full right and power, without violating any agreement by which the undersigned is bound, to enter into this letter agreement and to serve as a [POSITION] of the Company. 
 11. The undersigned acknowledges and understands that the Underwriter and the Company will rely upon the agreements, representations and warranties set
forth herein in proceeding with the IPO. 
 12. This letter agreement shall be binding on the undersigned and such person’s respective
successors, heirs, personal representatives and assigns. This letter agreement shall terminate on the earlier of (i) the Business Combination Date, or (ii) the Termination Date; provided, however, that [(a)] any such termination
shall not relieve the undersigned from any liability resulting from or arising out of any breach of any agreement or covenant hereunder occurring prior to the termination of this letter agreement [FOR MEDALLION FINANCIAL CORP. ONLY — and (b)
the undersigned’s indemnification obligations hereunder shall survive the termination of this letter agreement.] 
 13. The undersigned
authorizes any employer, financial institution or consumer credit reporting agency to release to the Underwriter and its legal representatives or agents (including any investigative search firm retained by the Underwriter) any information they may
have about the undersigned’s background and finances (“Information”), solely for the purposes of the IPO. Neither the Underwriter nor its agents shall be violating the undersigned’s right of privacy in any manner in
requesting and obtaining the Information, and the undersigned hereby releases them from liability for any damage whatsoever in that connection. The undersigned shall be entitled to a copy of such Information, upon request. The Underwriter shall not
release such Information to any third-party, other than the Company or the Underwriter’s or the Company’s respective legal representative, without the prior written consent of the undersigned. The Underwriter shall use the same measures to
protect the Information as it takes to protect its own similar confidential information, but in no event less than reasonable care. 
 14.
[FOUNDING STOCKHOLDERS ONLY — The undersigned hereby agrees that, on a date that is within the five-day period following the date that is 30 days after the date of the Underwriting Agreement between the Company and the Underwriter (the
“Underwriting Agreement”) or, if earlier, the date the Underwriter terminates its option to purchase Optional Units (as defined in the Underwriting Agreement) pursuant to the terms of the Underwriting Agreement, the undersigned will
sell to the Company, and the Company shall accept from the undersigned, at no cost, the number of shares of Common Stock determined by multiplying (a) [15% OF INSIDER SHARES PURCHASED BY FOUNDING STOCKHOLDER] by (b) a fraction,
(i) the numerator of which is 3,000,000 minus the number of units purchased by the Underwriter upon the exercise of its option to purchase Optional Units, and (ii) the denominator of which is 3,000,000.] 
 15. This letter agreement shall be governed by and interpreted and construed in accordance with the laws of the State of New York applicable to contracts
formed and to be performed entirely within the State of New York, without regard to the conflicts of law provisions thereof to the extent such principles and rules would require or permit the application of the laws of another jurisdiction. The
undersigned hereby agrees that any action, proceeding or claim against the undersigned arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court
for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The undersigned hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient
forum. 
 16. No term or provision of this letter agreement may be amended, changed, waived, altered or modified except by written instrument
executed and delivered by the undersigned, the Company and the Underwriter [FOR MEDALLION FINANCIAL CORP. ONLY—; provided, however, that in no event shall any term or provision of the undersigned’s indemnification obligations
hereunder (including, without limitation, the survival of such indemnification obligations after the termination of this letter agreement) be amended, changed, waived, altered or modified]. 
  

	
	  
 [FOUNDING STOCKHOLDER, OFFICER OR
 DIRECTOR]

  

 - 3 - 

			
	 ACCEPTED AND AGREED:

	
	 BANC OF AMERICA SECURITIES LLC

		
	 By:
	 	  

	 Name:
 Title:
	 	
	
	 ACCEPTED AND AGREED:

	
	 SPORTS PROPERTIES ACQUISITION CORP.

		
	 By:
	 	  

	 Name:
 Title:
	 	 Larry D. Hall
 Chief Financial Officer

  

 - 4 - 

 SCHEDULE 1  
 SUPPLEMENTAL COMMON DEFINITIONS 
 Unless the context shall otherwise require, the following terms
shall have the following respective meanings for all purposes, and the following definitions are equally applicable to both the singular and the plural forms of the terms defined. 
 “Affiliate” shall have the meaning ascribed to it in Rule 12b-2 of the General Rules and Regulations under the Securities Exchange
Act of 1934, as amended. 
 “Business Combination” shall mean the acquisition by the Company, whether by merger, capital
stock exchange, asset acquisition, exchangeable share transaction, stock purchase or other similar type of transaction, or any combination of the foregoing, of one or more domestic or international operating businesses, having, collectively, a fair
market value equal to at least 80% of the Company’s net assets (excluding deferred underwriting discounts and commissions) at the time of such merger, capital stock exchange, asset acquisition, exchangeable share transaction, stock purchase or
other similar business combination. 
 “Business Combination Date” shall mean the date upon which a Business Combination is
consummated. 
 “Effective Date” shall mean the date upon which the Registration Statement is declared effective under the
Securities Act of 1933, as amended, by the SEC. 
 “Immediate Family” shall mean, with respect to any person, such
person’s spouse, lineal descendents, father, mother, brothers or sisters (including any such relatives by adoption or marriage). 
 “Insiders” shall mean all of the officers, directors and stockholders of the Company immediately prior to the Company’s IPO. 
 “Insider Shares” shall mean all shares of Common Stock of the Company owned by an Insider immediately prior to the Private Placement and the Company’s IPO. For the avoidance of doubt, Insider
Shares shall not include any IPO Shares purchased by Insiders in connection with or subsequent to the Company’s IPO. 
 “IPO
Shares” shall mean all shares of Common Stock issued by the Company in its IPO, regardless of whether such shares were issued to an Insider or otherwise. 
 “Private Placement” shall mean the private placement by the Company of 6,000,000 warrants to purchase Common Stock prior to the IPO. 
 “Prospectus” shall mean the final prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, and
included in the Registration Statement. 
 “Registration Statement” shall mean the registration statement filed by the
Company on Form S-1 with the SEC in connection with the Company’s IPO and any amendment or supplement thereto. 
 “SEC” shall mean the United States Securities and Exchange Commission. 
 “Termination Date” shall
mean the date that is 90 calendar days immediately following the Transaction Failure Date. 
  

 - 5 - 

 “Transaction Failure” shall mean the failure to consummate a Business Combination within
24 months of the Effective Date. 
 “Transaction Failure Date” shall mean the 24-month anniversary of the Effective
Date. 
 “Trust Account” shall mean that certain trust account maintained by Continental Stock Transfer & Trust
Company, acting as trustee, and in which the Company deposited the “funds to be held in trust,” as described in the Prospectus. 
  

 - 6 - 

 EXHIBIT A  
 BIOGRAPHY 
  

 - 7 -Form of Subscription Agreement for warrants

 Exhibit 10.6 
 FORM OF SUBSCRIPTION AGREEMENT 
 SUBSCRIPTION AGREEMENT (this “Agreement”) made as of this
        day of                     , 2008 for the benefit of Sports Properties Acquisition
Corp., a Delaware corporation (the “Company”), having its principal place of business at 437 Madison Avenue, New York, NY 10022 by
                    (the “Subscriber”). 
 WHEREAS, the Company desires to sell on a private placement basis (the “Offering”) 6,000,000 warrants (the “Warrants”). Each Warrant is exercisable for one share of the Company’s common stock,
par value $0.001 per share, (“Common Stock”), at an exercise price of $7.00 per share and for a per Warrant purchase price of $1.00; and 
 WHEREAS, the Subscriber wishes to purchase the number of Warrants indicated on the signature page hereto by the caption, “Number of Warrants Being Subscribed”, and the Company wishes to accept such subscription; 
 NOW, THEREFORE, for and in consideration of the premises and the mutual covenants hereinafter set forth, the Company and the Subscriber do hereby agree
as follows: 
 1. Agreement to Subscribe
 1.1 Purchase and Issuance of the Securities. The Subscriber is hereby subscribing for the number of Warrants indicated on the signature page hereto by the caption, “Number of Warrants Being
Subscribed” which Warrants will be issued to the Subscriber, or his affiliates or designees. The aggregate purchase price for such Subscriber’s Warrants (the “Purchase Price”) is indicated on the signature page hereto by the
caption, “Aggregate Purchase Price”. 
 1.2 Delivery of the Purchase Price. Upon execution of this Agreement the
undersigned is hereby bound to fulfill his obligations hereunder and hereby irrevocably commits to deliver into a trust account maintained by Continental Stock Transfer & Trust Company, acting as Trustee, on the date of Closing (as
hereinafter defined) the Purchase Price by bank check, wire transfer or such other form of payment as shall be acceptable to the Trustee, in its sole and absolute discretion, at the Closing. 
 1.3 Closing. The closing of the Offering (the “Closing”) shall take place at the offices of the Company, prior to the effective
date of the registration statement pursuant to which the Company proposes to register its initial public offering of 20,000,000 units of Common Stock and Warrants (the “IPO”). 
 2. Representations and Warranties of the Subscriber
 The Subscriber represents and warrants to the Company that: 
 2.1 No Government Recommendation or
Approval. The Subscriber understands that no United States federal or state agency has passed upon or made any recommendation or endorsement of the Company or the Offering of the Warrants. 
 2.2 Intent. The Subscriber is purchasing the Warrants solely for investment purposes, for the Subscriber’s own account and not with a
view towards the distribution or dissemination thereof and the Subscriber has no present arrangement to sell the Warrants to or through any person or entity. The Subscriber understands that the Warrants must be held indefinitely unless such Warrants
are subsequently registered under the Securities Act or an exemption from registration is available. 

 2.3 Sophisticated Investor. 
 (i) The Subscriber is sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the
Warrants. 
 (ii) The Subscriber is able to bear the economic risk of his investment in the Warrants for an indefinite
period of time because none of the Warrants nor any of the shares of Common Stock to be issued upon exercise of such Warrants (the “Warrant Shares”) have been registered under the Securities Act and therefore cannot be sold unless
subsequently registered under the Securities Act or an exemption from such registration is available. 
 2.4 Independent
Investigation. The Subscriber, in making the decision to purchase the Warrants, has relied upon an independent investigation of the Company and has not relied upon any information or representations made by any third parties or upon any oral or
written representations or assurances from the Company, its officers, directors or employees or any other representatives or agents of the Company, other than as set forth in this Agreement. The Subscriber is familiar with the business, operations
and financial condition of the Company and has had an opportunity to ask questions of, and receive answers from, the Company’s officers and directors concerning the Company and the terms and conditions of the offering of the Warrants and has
had full access to such other information concerning the Company as the Subscriber has requested. 
 2.5 Rule 144
Acknowledgements. The Subscriber is aware of the adoption of Rule 144 by the Securities and Exchange Commission under the Securities Act (“Rule 144”), which permits limited public resale of securities acquired in a non-public
offering, subject to the satisfaction of certain conditions. Subscriber understands that the Warrants are “restricted securities” as that term is defined in Rule 144 and that the Warrants and the Warrant Shares must be held
indefinitely by the Subscriber unless they are subsequently registered under the Securities Act or an exemption from such registration, such as Rule 144, is available. Notwithstanding the foregoing, the Subscriber further understands and
acknowledges that the SEC has taken the position that the Subscriber is considered a promoter under the Securities Act of 1933, as amended (the “Securities Act”), and that promoters or affiliates of a blank check company and their
transferees, both before and after a Business Combination, would act as an “underwriter” under the Securities Act when reselling the securities of that blank check company. Accordingly, Rule 144 will not be available for the resale of
the Warrants or the securities underlying the Warrants despite technical compliance with the requirements of Rule 144, in which event the resale transactions would need to be made through a registered offering. 
 2.6 Authority. This Agreement has been validly authorized, executed and delivered by the Subscriber and is a valid and binding agreement
enforceable in accordance with its terms, subject to the general principles of equity and to bankruptcy or other laws affecting the enforcement of creditors’ rights generally. The execution, delivery and performance of this Agreement by the
Subscriber does not and will not conflict with, violate or cause a breach of any agreement, contract or instrument to which the Subscriber is a party. 
 2.7 No Legal Advice from Company. The Subscriber acknowledges that he has had the opportunity to review this Agreement and the transactions contemplated by this Agreement and the other agreements entered
into between the parties hereto with the Subscriber’s own legal counsel and investment and tax advisors. Except for any statements or representations of the Company made in this Agreement and the other agreements entered into between the
parties hereto, the Subscriber is relying solely on such counsel and advisors and not on any statements or representations of the Company or any of its representatives or agents for legal, tax or investment advice with respect to this investment,
the transactions contemplated by this Agreement or the securities laws of any jurisdiction. 
 2.8 Reliance on Representations and
Warranties. The Subscriber understands that the Warrants are being offered and sold to the Subscriber in reliance on exemptions from the registration requirements under the Securities Act, and analogous provisions in the laws and regulations of
various states, and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of the Subscriber set forth in this Agreement in order to determine the applicability of
such provisions. 
  

 - 2 - 

 2.9 No Advertisements. The undersigned is not subscribing for the Warrants as a result of or
subsequent to any advertisement, article, notice or other communication published in any newspaper, magazine, or similar media or broadcast over television or radio, or presented at any seminar or meeting. 
 2.10 Legend. The Subscriber acknowledges and agrees that the certificates evidencing the Warrants and, when issued, the Warrant Shares, shall
bear a restrictive legend (the “Legend”), in the form and substance as set forth in Section 4 hereof, prohibiting the offer, sale, pledge or transfer of the securities, except (i) pursuant to an effective registration statement
filed under the Securities Act, (ii) pursuant to an exemption from registration provided by Rule 144 under the Securities Act (if available), and (iii) pursuant to any other exemption from the registration requirements of the
Securities Act. 
 3. Representations and Warranties of the Company
 The Company represents and warrants to the Subscriber that: 
 3.1 Valid Issuance of Capital Stock. The total number of shares of all classes of capital stock which the Company has authority to issue is 100,000,000 shares of Common Stock and 1,000,000 shares of
Preferred Stock. As of the date hereof, the Company has 5,750,000 shares of Common Stock and no shares of Preferred Stock issued and outstanding. All of the issued shares of capital stock of the Company have been duly authorized, validly issued, and
are fully paid and non-assessable. 
 3.2 Organization and Qualification. The Company is a corporation duly incorporated and
existing in good standing under the laws of the state of Delaware and has the requisite corporate power to own its properties and assets and to carry on its business as now being conducted. 
 3.3 Authorization; Enforcement. (i) The Company has the requisite corporate power and authority to enter into and perform its
obligations under this Agreement and to issue the Warrants and Warrant Shares in accordance with the terms hereof, (ii) the execution, delivery and performance of this Agreement by the Company and the consummation by it of the transactions
contemplated hereby have been duly authorized by all necessary corporate action, and no further consent or authorization of the Company or its Board of Directors or stockholders is required, and (iii) this Agreement constitutes valid and
binding obligations of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, moratorium, reorganization, or similar laws
relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by equitable principles of general application and except as enforcement of rights to indemnity and contribution may be limited by federal and state
securities laws or principles of public policy. 
 3.4 No Conflicts. The execution, delivery and performance of this Agreement
and the consummation by the Company of the transactions contemplated hereby do not (i) result in a violation of the Company’s Certificate of Incorporation or By-Laws or (ii) conflict with, or constitute a default under any agreement,
indenture or instrument to which the Company is a party. Other than any SEC or state securities filings which may be required to be made by the Company subsequent to the Closing, and any registration statement which may be filed pursuant thereto,
the Company is not required under federal, state or local law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency or self-regulatory entity in order for it
to perform any of its obligations under this Agreement or issue the Warrants and Warrant Shares in accordance with the terms hereof. 
  

 - 3 - 

 4. Legends; Denominations
 4.1 Legend. The Company will issue the Warrants, and when issued, the Warrant Shares, purchased by the Subscriber in the name of the
Subscriber and in such denominations to be specified by the Subscriber prior to the Closing. The Warrants and Warrant Shares will bear the following Legend and appropriate “stop transfer” instructions: 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS AND CONDITIONS CONTAINED IN A STOCK ESCROW AGREEMENT (THE
“AGREEMENT”) AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE ESCROW PERIOD (AS DEFINED IN THE AGREEMENT). FURTHER, THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT COVERING THESE SECURITIES UNDER THE ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER THE ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL FOR THIS CORPORATION, IS AVAILABLE.” 
 4.2 Subscriber’s Compliance. Nothing in this Section 4 shall affect in any way the Subscriber’s obligations and agreement to
comply with all applicable securities laws upon resale of the Warrants and Warrant Shares. 
 4.3 Company’s Refusal to Register
Transfer of Units. The Company shall refuse to register any transfer of the Warrants or the Warrant Shares, if in the sole judgment of the Company, such purported transfer would not be made (i) pursuant to an effective registration
statement filed under the Securities Act, or (ii) pursuant to an available exemption from the registration requirements of the Securities Act. 
 5. Escrow
 Upon consummation of the IPO, the Subscriber and its designees shall enter into a securities escrow agreement
with Continental Stock Transfer & Trust Company, whereby the Warrants and the Warrant Shares shall be held in escrow until the earlier of (i) one year after the consummation of a Business Combination (as hereinafter defined) or
(ii) the liquidation of the Company. As used herein, a “Business Combination” shall mean an acquisition by the Company by merger, capital stock exchange, exchangeable share transaction, joint venture, asset or stock acquisition or
other similar business combination of one or more domestic or international operating businesses in the sports, leisure or entertainment industries. 
 6. Waiver of Liquidation Distributions
 In connection with the Warrants purchased pursuant to this
Agreement or prior to this private placement, the Subscriber hereby waives any and all right, title, interest or claim of any kind in or to any liquidating distributions by the Company in the event of a liquidation of the Company upon the
Company’s failure to timely complete a Business Combination. For purposes of clarity, in the event the Subscriber purchases shares of Common Stock in the IPO or in the aftermarket, any additional shares so purchased shall be eligible to receive
any liquidating distributions by the Company. Notwithstanding the foregoing, the Subscriber acknowledges and agrees that any such shares of Common Stock purchased by Subscriber prior to this private placement, in this private placement or in the IPO
will be voted in accordance with the majority of the shares voted by the public stockholders, while any such shares of Common Stock purchased by Subscriber in the aftermarket will be voted in favor of a Business Combination. Consequently, in no
event will the Subscriber have the right to convert any shares of Common Stock into funds held in the trust account with Continental Stock Transfer & Trust Company upon the successful completion of a Business Combination. 
 7. Forfeiture of Warrants.
 7.1 Failure to Consummate Business Combination. All of the Warrants purchased pursuant to this Agreement initially shall be subject to forfeiture to the Company in accordance with this Section 7. The Warrants shall be
forfeited to the Company in the event that the Company does not consummate a Business Combination, with respect the Company’s IPO within 24 months from the consummation of the IPO. 
  

 - 4 - 

 7.2 Termination of Rights as Stockholder; Escrow. If such Warrants are forfeited in
accordance with this Section 7, then after such time, the Subscriber (or successor in interest) shall no longer have any rights as a holder of such Warrants, and the Company shall take such action as is appropriate to cancel such Warrants. To
effectuate the foregoing, all certificates representing the Warrants shall be held in escrow as provided in Section 5 hereof. In addition, the Subscriber hereby irrevocably grants the Company a limited power of attorney for the purpose of
effectuating the foregoing. 
 8. Rescission Right Waiver and Indemnification.
 8.1 The Subscriber understands and acknowledges that an exemption from the registration requirements of the Securities Act requires that there be no
general solicitation of purchasers of the Warrants. In this regard, if the offering of the Units in the Company’s IPO were deemed to be a general solicitation with respect to the Warrants, the offer and sale of such Warrants may not be exempt
from registration and, if not, the Subscriber may have a right to rescind its purchase of the Warrants. In order to facilitate the completion of the Offering and in order to protect the Company, its stockholders and the trust account from claims
that may adversely affect the Company or the interests of its stockholders, the Subscriber hereby agrees to waive, to the maximum extent permitted by applicable law, any claims, right to sue or rights in law or arbitration, as the case may be, to
seek rescission of its purchase of the Warrants. The Subscriber acknowledges and agrees that this waiver is being made in order to induce the Company to sell the Warrants to the Subscriber. The Subscriber agrees that the foregoing waiver of
rescission rights shall apply to any and all known or unknown actions, causes of action, suits, claims, or proceedings (collectively, “Claims”) and related losses, costs, penalties, fees, liabilities and damages, whether compensatory,
consequential or exemplary, and expenses in connection therewith, including reasonable attorneys’ and expert witness fees and disbursements and all other expenses reasonably incurred in investigating, preparing or defending against any Claims,
whether pending or threatened, in connection with any present or future actual or asserted right to rescind the purchase of the Warrants hereunder or relating to the purchase of the Warrants and the transactions contemplated hereby. 
 8.2 The Subscriber agrees not to seek recourse against the trust account for any reason whatsoever in connection with his purchase of the Warrants
or any Claim that may arise now or in the future. 
 8.3 The Subscriber acknowledges and agrees that the stockholders of the Company are
and shall be third-party beneficiaries of the foregoing provisions of this Agreement. 
 8.4 The Subscriber agrees that to the extent
any waiver of rights under this Section 8 is ineffective as a matter of law, the Subscriber has offered such waiver for the benefit of the Company as an equitable right that shall survive any statutory disqualification or bar that applies to a
legal right. The Subscriber acknowledges the receipt and sufficiency of consideration received from the Company hereunder in this regard. 
 9. Terms of the Warrants
 The Warrants are similar to the warrants included in the units offered in the IPO, except that:
(i) they are not being registered in the Registration Statement and therefore shall not be freely tradeable until one year has passed from the consummation of a Business Combination; and (ii) they are not redeemable so long as they are
held by the initial holder thereof (or any of their permitted transferees). The Warrant Shares will be granted certain registration rights. In addition, in the event that a registration statement with respect to the Warrant Shares is not effective
under the Securities Act, Subscriber shall not be entitled to exercise the Warrants and such Warrants may have no value and expire worthless. In no event will the Company be required to net cash settle the Warrant exercise. 
 10. Voting of Shares. Subscriber has agreed to vote the shares of Common Stock owned by him immediately before this private placement or
acquired in the IPO in accordance with the majority of the shares of Common Stock voted by the public stockholders. In connection with securities purchased in the aftermarket, Subscriber has agreed to vote such shares of Common Stock in favor of a
Business Combination that the Company negotiates and presents for approval to the Company’s stockholders. 
  

 - 5 - 

 11. Governing Law; Jurisdiction; Waiver of Jury Trial
 This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware for agreements made and to be wholly performed
within such state. The parties hereto hereby waive any right to a jury trial in connection with any litigation pursuant to this Agreement and the transactions contemplated hereby. 
 12 Assignment; Entire Agreement; Amendment
 12.1 Assignment. Neither this Agreement nor any rights hereunder may be assigned by any party to any other person other than by Subscriber to a person agreeing to be bound by the terms hereof. 
 12.2 Entire Agreement. This Subscription Agreement sets forth the entire agreement and understanding between the parties as to the subject
matter thereof and merges and supersedes all prior discussions, agreements and understandings of any and every nature among them. 
 12.3 Amendment. Except as expressly provided in this Agreement, neither this Agreement nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument signed by the party against whom
enforcement of any such amendment, waiver, discharge, or termination is sought. 
 12.4 Binding upon Successors. This Agreement
shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs, legal representatives, successors and permitted assigns. 
 13. Notices; Indemnity
 13.1 Notices. Unless otherwise provided herein, any notice or
other communication to a party hereunder shall be sufficiently given if in writing and personally delivered or sent by facsimile or other electronic transmission with copy sent in another manner herein provided or sent by courier (which for all
purposes of this Agreement shall include Federal Express or other recognized overnight courier) or mailed to said party by certified mail, return receipt requested, at its address provided for herein or such other address as either may designate for
itself in such notice to the other. Communications shall be deemed to have been received when delivered personally, on the scheduled arrival date when sent by next day or 2-day courier service, or if sent by facsimile upon receipt of confirmation of
transmittal or, if sent by mail, then three days after deposit in the mail. If given by electronic transmission, such notice shall be deemed to be delivered (a) if by electronic mail, when directed to an electronic mail address at which the
stockholder has consented to receive notice; (b) if by a posting on an electronic network together with separate notice to the stockholder of such specific posting, upon the later of (1) such posting and (2) the giving of such
separate notice; and (c) if by any other form of electronic transmission, when directed to the stockholder. 
 13.2 Indemnification. Each party shall indemnify the other against any loss, cost or damages (including reasonable attorney’s fees and expenses) incurred as a result of such party’s breach of any representation,
warranty, covenant or agreement in this Agreement. 
 14. Counterparts
 This Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and the same agreement and shall
become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or
by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or
“.pdf” signature page were an original thereof. 
  

 - 6 - 

 15. Survival; Severability
 15.1 Survival. The representations, warranties, covenants and agreements of the parties hereto shall survive the Closing. 
 15.2 Severability. In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be
illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision; provided that no such severability shall be effective if it materially changes the economic benefit of this Agreement to any party.

 16. Titles and Subtitles
 The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 
  

 - 7 - 

									
				
	Name of the Subscriber:	 		 		  	________________________________________________________________________
					
		 		 		  	(Please print legibly)	  	
					
	Number of Warrants Being Subscribed:	 		 		  		  	

									
				
		 		 		  	 _________________________________________________________________

					
	Aggregate Purchase Price:	 		 		  		  	

									
				
		 		 		  	 __________________________________________________________________

					
	Date of Subscription:	 		 		  		  	

									
		
		  	 _____________________________________________________________________

					
	Principal Place of Business:	 		 		  		  	

 This subscription is accepted by the Company on the         day of
                    , 2008. 
  

					
	SPORTS PROPERTIES ACQUISITION CORP.
		
	By:	 	 
		 	Name:	 	Tony Tavares
		 	Title:	 	President and Chief Executive Officer
	
	SUBSCRIBER
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	

  

 - 8 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00135-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00135-of-00352.parquet"}]]