Document:

Exhibit 10.2

 

[_______], 2020

 

Sports Ventures Acquisition Corp.

9705 Collins Ave 1901N

Bal Harbour, FL 33154

 

		Re:	Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (this
“Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting
Agreement”) to be entered into by and among Sports Ventures Acquisition Corp., a Cayman Islands exempted company
(the “Company”), and Deutsche Bank Securities Inc., as representative (the “Representative”)
of the several underwriters (each, an “Underwriter” and collectively, the “Underwriters”),
relating to an underwritten initial public offering (the “Public Offering”), of up to 23,000,000 of the
Company’s units (including up to 3,000,000 units that may be purchased to cover over-allotments, if any) (the “Units”),
each comprised of one Class A ordinary share of the Company, par value $0.0001 per share (the “Ordinary Shares”),
and one-third of one warrant. Each whole Warrant (each, a “Warrant”) entitles the holder thereof to purchase
one Ordinary Share. The Units shall be sold in the Public Offering pursuant to a registration statement on Form S-1 (File
No. 333-249392) and prospectus (the “Prospectus”) filed by the Company with the Securities and Exchange
Commission (the “Commission”) and the Company shall apply to have the Units listed on the Nasdaq Capital
Market. Certain capitalized terms used herein are defined in Section 11 hereof.

 

In order to induce
the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, AKICV LLC (the “Sponsor”)
and the undersigned individuals, each of whom is a member of the Company’s board of directors and/or management team, hereby
agree with the Company as follows:

 

1. The Sponsor
and each Insider agrees that (A) if the Company seeks shareholder approval of a proposed Business Combination, then in connection
with such proposed Business Combination, it, he or she shall (i) vote any Shares owned by it, him or her in favor of any proposed
Business Combination and (ii) not redeem any Shares owned by it, him or her in connection with such shareholder approval,
(B) if the Company engages in a tender offer in connection with any proposed Business Combination, it, he or she shall not sell
any Shares to the Company in connection therewith and (C) if the Company seeks shareholder approval of any proposed amendment to
the Charter prior to the consummation of a Business Combination, it, he or she shall not redeem any Shares owned by it, him or
her in connection with such shareholder approval.

 

2. The Sponsor and
each Insider hereby agrees that in the event that the Company fails to consummate a Business Combination within the time period
set forth in the Charter, the Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all
operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business days
thereafter, subject to lawfully available funds therefor, redeem 100% of the Ordinary Shares sold as part of the Units in the Public
Offering (the “Offering Shares”), at a per-share price, payable in cash, equal to the aggregate
amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously
released to the Company to pay any taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of
then outstanding Offering Shares, which redemption will completely extinguish all Public Shareholders’ rights as shareholders
(including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly
as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the
Company’s board of directors, dissolve and liquidate, subject in the case of clauses (ii) and (iii) above to the Company’s
obligations under Cayman Islands law to provide for claims of creditors and other requirements of applicable law. The Sponsor and
each Insider agrees to not propose any amendment to the Charter (i) that would affect the substance or timing of the Company’s
obligation to provide holders of the Offering Shares the right to have their Offering Shares redeemed in connection with the Business
Combination or redeem 100% of the Offering Shares if the Company does not complete a Business Combination within the time period
described in the Prospectus or (ii) with respect to any other provision relating to shareholders’ rights or pre-Business
Combination activity, unless the Company provides its public shareholders with the opportunity to redeem their Ordinary Shares
upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit
in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company
to pay any taxes, divided by the number of then outstanding Offering Shares.

 

     

     

    

 

The Sponsor and each
Insider acknowledges that it, he or she has no right, title, interest or claim of any kind in or to any monies held in the Trust
Account or any other asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares held
by it, him or her. The Sponsor and each Insider hereby further waives any claim such Sponsor or Insider may have in the future
as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Fund
for any reason whatsoever except in each case with respect to the Sponsor’s or the Insider’s right to a pro rata interest
in the proceeds held in the Trust Fund for any Offering Shares such Sponsor or Insider may hold.

 

3. During the
period commencing on the effective date of the Underwriting Agreement and ending 180 days after such date, the Sponsor and each
Insider shall not, without the prior written consent of the Representatives, (i) sell, offer to sell, contract or agree to
sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly,
or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16
of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder,
with respect to any Units, Ordinary Shares, Founder Shares, Warrants or any securities convertible into, or exercisable, or exchangeable
for, Ordinary Shares owned by it, him or her, (ii) enter into any swap or other arrangement that transfers to another, in
whole or in part, any of the economic consequences of ownership of any Units, Ordinary Shares, Founder Shares, Warrants or any
securities convertible into, or exercisable, or exchangeable for, Ordinary Shares owned by it, him or her, whether any such transaction
is to be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce any intention to effect
any transaction specified in clause (i) or (ii). Each of the Insiders and the Sponsor acknowledges and agrees that, prior
to the effective date of any release or waiver of the restrictions set forth in this Section 3, the Company shall announce the
impending release or waiver by press release through a major news service at least two business days before the effective date
of the release or waiver. Any release or waiver granted shall only be effective two business days after the publication date of
such press release. The provisions of this Section will not apply if the release or waiver is effected solely to permit a transfer
not for consideration and the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement
to the extent and for the duration that such terms remain in effect at the time of the transfer.

 

4. In the event
of the liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other shareholders,
members or managers of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim,
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) to which the Company may
become subject as a result of any claim by (i) any third party for services rendered or products sold to the Company or (ii) a
prospective target business with which the Company has entered into a letter of intent, confidentiality or other similar agreement
or a Business Combination agreement (a “Target”); provided, however, that such
indemnification of the Company by the Sponsor shall apply only to the extent necessary to ensure that such claims by a third party
for services rendered or products sold to the Company or a Target do not reduce the amount of funds in the Trust Account to below
(i) $10.00 per share of the Offering Shares or (ii) such lesser amount per share of the Offering Shares held in the Trust
Account due to reductions in the value of the trust assets as of the date of the liquidation of the Trust Account, in each case,
net of the amount of interest earned on the property in the Trust Account which may be withdrawn to pay taxes, except as to any
claims by a third party (including a Target) who executed a waiver of any and all rights to seek access to the Trust Account and
except as to any claims under the Company’s indemnity of the Underwriters against certain liabilities, including liabilities
under the Securities Act of 1933, as amended. In the event that any such executed waiver is deemed to be unenforceable against
such third party, the Sponsor shall not be responsible to the extent of any liability for such third party claims. The Sponsor
shall have the right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company.

 

5. To the extent
that the Underwriters do not exercise their over-allotment option to purchase up to an additional 3,000,000 Units within 45 days
from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to surrender, at no cost, a number
of Founder Shares in the aggregate equal to 750,000 multiplied by a fraction, (i) the numerator of which is 3,000,000 minus
the number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator
of which is 3,000,000.

 

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6. The Sponsor
and each Insider hereby agrees and acknowledges that: (i) the Underwriters and the Company would be irreparably injured in
the event of a breach by such Sponsor or an Insider of its, his or her obligations under Sections 1, 2, 3, 4, 5, 7(a), 7(b), and
9, as applicable, of this Letter Agreement (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party
shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event
of such breach.

 

7. (a) Subject
to Section 7(c), the Sponsor and each Insider agrees that it, he or she shall not Transfer any Founder Shares (or Ordinary Shares
issuable upon conversion thereof) until the earlier of (A) one year after the completion of the Company’s initial Business
Combination or (B) subsequent to the Business Combination, (x) if the last sale price of the Ordinary Shares equals or exceeds
$12.00 per share (as adjusted for share splits, share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations
and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s initial
Business Combination or (y) the date on which the Company completes a liquidation, merger, share exchange, reorganization or other
similar transaction that results in all of the Company’s shareholders having the right to exchange their Ordinary Shares
for cash, securities or other property (the “Founder Shares Lock-up Period”).

 

(b) Subject
to Section 7(c), the Sponsor and each Insider agrees that it, he or she shall not Transfer any Placement Units, Placement Shares,
Placement Warrants (or Ordinary Shares issued or issuable upon the conversion or exercise of Placement Warrants), until 30 days
after the completion of a Business Combination (the “Placement Unit Lock-up Period”, together
with the Founder Shares Lock-up Period, the “Lock-up Periods”).

 

(c) Notwithstanding
the provisions set forth in Sections 7(a) and (b), Transfers of the Founder Shares, Placement Units, Placement Shares, Placement
Warrants and Ordinary Shares issued or issuable upon the exercise or conversion of Placement Warrants or the Founder Shares and
that are held by the Sponsor, any Insider or any of their permitted transferees (that have complied with this Section 7(c)), are
permitted (1) (a) to the Company’s officers and directors, the Initial Holders, and other Insiders, (b) to an affiliate
or immediate family member of any of the Company’s officers, directors, Initial Holders and other Insiders, (c) to any
member, officer or director of the Sponsor, or any immediate family member, partner, affiliate or employee of a member of the Sponsor,
(d) by gift to any permitted transferee under any of the immediately preceding subsections (a) through (c), a trust,
the beneficiaries of which are one or more permitted transferees under any of the immediately preceding subsections (a) through
(c), or a charitable organization, (e) by virtue of laws of descent and distribution upon death of any of the Company’s
officers, directors, Initial Holders or members of the Sponsor, (f) pursuant to a qualified domestic relations order, (g) in
the event of the Company’s liquidation prior to consummation of the initial Business Combination, (h) by virtue of the
laws of the Cayman Islands or the Sponsors’ limited liability company agreements upon dissolution of either Sponsor, (i) subsequent
to the initial Business Combination, upon and in connection with a liquidation, merger, share exchange or other similar transaction
which results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities
or other property, (j) subsequent to the initial Business Combination, in the event of a consolidation merger, share exchange
or similar transaction in which the Company is the surviving entity that results in a change in the majority of its board of directors
or management team and (k) through private sales or transfers made in connection with any forward purchase agreement or similar
arrangement or in connection with the consummation of the initial Business Combination at prices no greater than the price at which
the Founder Shares, Placement Shares or warrants were originally purchased; provided, however, that in the case of clauses (a) through
(f), (h) and (k) these permitted transferees must enter into a written agreement agreeing to be bound by these transfer
restrictions, and (2) in connection with an initial Business Combination with the consent of the Company to any third party that
agrees in writing to be bound by the provisions of this Letter Agreement applicable to Insiders (other than paragraph 1). For the
avoidance of doubt, for the purposes of this Letter Agreement, a managed account managed by the same investment manager of any
member of the Sponsor shall be deemed an affiliate of such member.

 

(d) Subject to the
limitations described herein, each Insider shall retain all of such Insider’s rights as a security holder during, as applicable,
the Lock-Up Periods including, without limitation, the right to vote, as the case may be, the Founder Shares and/or Placement Shares.

 

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8. The Sponsor
and each Insider represents and warrants that it, he or she 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.
Each Insider’s biographical information furnished to the Company (including any such information included in the Prospectus)
is true and accurate in all respects and does not omit any material information with respect to the Insider’s background.
Each Insider’s questionnaire furnished to the Company is true and accurate in all respects. Each Insider represents and warrants
that: it, he or she 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; it or
he has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction
or handling of funds of another person, or (iii) pertaining to any dealings in any securities and it or he is not currently
a defendant in any such criminal proceeding.

 

9. Except as disclosed
in the Prospectus, neither the Sponsor nor any Insider nor any affiliate of the Sponsor or any Insider, nor any director or officer
of the Company, shall receive from the Company any finder’s fee, reimbursement or cash payments prior to, or in connection
with any services rendered in order to effectuate the consummation of the Company’s initial Business Combination (regardless
of the type of transaction that it is), other than the amounts described in the Prospectus under the heading “Summary –
The Offering – Limited Payments to Insiders.”

 

10. The Sponsor
and each Insider has full right and power, without violating any agreement to which it is bound (including, without limitation,
any non-competition or non-solicitation agreement with any employer or former employer), to enter into this
Letter Agreement and, as applicable, to serve as an officer and/or director on the board of directors of the Company and hereby
consents to being named in the Prospectus as an officer and/or director of the Company.

 

11. As used herein,
(i) “Business Combination” shall mean a merger, share exchange, asset acquisition, stock purchase,
reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Shares”
shall mean, collectively, the Ordinary Shares and the Founder Shares; (iii) “Founder Shares” shall
mean (a) the 5,750,000 Class B ordinary shares of the Company, par value $0.0001 per share, initially issued to the Sponsor
(up to 750,000 Shares of which are subject to complete or partial surrender by the Sponsor if the over-allotment option is not
exercised by the Underwriters) for an aggregate purchase price of $25,000, or approximately $0.004 per share, prior to the consummation
of the Public Offering; (iv) “Initial Holders” shall mean the Sponsor and any Insider that holds
Founder Shares; (v) “Insiders” shall mean the Sponsor and its members, any holders of Founder Shares,
any person who receives Placement Units, Founder Shares or their respective underlying securities as a Permitted Transferee and
each officer and director of the Company; (vi) “Placement Shares” shall mean the Ordinary Shares sold
as part of the Placement Units; (vii) “Placement Warrants” shall mean the Warrants to purchase up to
an aggregate of 200,000 Ordinary Shares that are included in the Placement Units; (viii) “Placement Units”
shall mean the aggregate of up to 660,000 Units of the Company (each Placement Unit consists of one-third of a Placement Warrant
and one Placement Share) sold in the Private Placement to the Sponsor for an aggregate purchase price of up to $6,600,000; (ix)
“Private Placement” shall mean that certain private placement transaction occurring simultaneously with
the closing of the Public Offering pursuant to which the Company has agreed to sell an aggregate of up to 660,000 Placement Units
to the Sponsor; (x) “Public Shareholders” shall mean the holders of securities issued in the Public
Offering; (xi) “Trust Account” shall mean the trust fund into which a portion of the net proceeds
of the Public Offering shall be deposited; (xii) “Transfer” shall mean the (a) sale of, offer
to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement
to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to
or decrease of a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended,
and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry into
any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of
any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public
announcement of any intention to effect any transaction specified in clause (a) or (b); and (xiii) “Charter”
shall mean the Company’s memorandum and articles of association, as the same may be amended from time to time.

 

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12. This Letter
Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and
supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent
they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed,
amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument
executed by all parties hereto.

 

13. No party hereto
may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written consent
of the other party. Any purported assignment in violation of this Section shall be void and ineffectual and shall not operate to
transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor and each
Insider and their respective successors, heirs and assigns and permitted transferees.

 

14. Nothing in
this Letter Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties hereto any
right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement
hereof. All covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall be for the sole
and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees.

 

15. This Letter
Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

16. This Letter
Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such
invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Letter Agreement
a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

17. This Letter
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The
parties hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this
Letter Agreement shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit
to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive
jurisdiction and venue or that such courts represent an inconvenient forum.

 

18. Any notice,
consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing and
shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery
or facsimile transmission.

 

19. This Letter
Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation
of the Company; provided, however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is
not consummated and closed by June 30, 2021; provided further that Section 4 of this Letter Agreement shall survive such liquidation.

 

 

[Signature Page Follows]

 

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	 	Sincerely,
	 	 
	 	SPORTS VENTURES ACQUISITION CORP.
	 	 
	 	By:	 
	 	Name:	Alan Kestenbaum
	 	Title:	Chief Executive Officer
	 	 
	 	 
	 	AKICV LLC
	 	 
	 	By:	 
	 	Name:	Alan Kestenbaum
	 	Title:	Managing Member
	 	 
	 	 
	 	Name:	Alan Kestenbaum
	 	 
	 	 
	 	Name: 	Robert Tilliss
	 	 
	 	 
	 	Name: 	Daniel Strauss
	 	 
	 	 
	 	Name: 	 
	 	 
	 	 
	 	Name: 	 
	 	 
	 	 
	 	Name: 	 
	 	 

 

[Signature Page to Letter Agreement]

 

    6Exhibit 10.3

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Investment Management
Trust Agreement (this “Agreement”) is made effective as of [_____], 2020 by and between Sports Ventures
Acquisition Corp., a Cayman Islands exempted company (the “Company”), and Continental Stock Transfer
& Trust Company, a New York corporation (the “Trustee”).

 

WHEREAS, the Company’s
registration statement on Form S-1, No. 333-249392 (the “Registration Statement”) and related prospectus
(the “Prospectus”) for the initial public offering of the Company’s units (the “Units”),
each of which consists of one Class A ordinary share of the Company, par value $0.0001 per share (the “Ordinary Shares”),
and one-third of one warrant, each whole warrant to purchase one Ordinary Share (such initial public offering hereinafter referred
to as the “Offering”), was declared effective by the U.S. Securities and Exchange Commission on [_____],
2020; and

 

WHEREAS, the Company
has entered into an Underwriting Agreement (the “Underwriting Agreement”) with Deutsche Bank Securities
Inc. (“Representative”) as representative of the several underwriters named therein (the “Underwriters”);
and

 

WHEREAS, as described
in the Registration Statement, $200,000,000 of the gross proceeds of the Offering and sale of the Private Placement Units (as defined
in the Underwriting Agreement) (or $230,000,000 if the Underwriters’ over-allotment option is exercised in full) will be
delivered to the Trustee to be deposited and held in a segregated trust account located in the United States (the “Trust
Account”) for the benefit of the Company and the holders of the Company’s Ordinary Shares included in the Units
issued in the Offering as hereinafter provided (the amount to be delivered to the Trustee (and any interest subsequently earned
thereon) is referred to herein as the “Property,” the shareholders for whose benefit the Trustee
shall hold the Property are referred herein to as the “Public Shareholders,” and the Public Shareholders
and the Company together are referred to herein as the “Beneficiaries”); and

 

WHEREAS, pursuant to
the Underwriting Agreement, $7,000,000, or up to $8,050,000 if the Underwriters’ over-allotment option is exercised in full,
of the Property is attributable to deferred underwriting discounts and commissions that may be payable by the Company to the Representative
upon the consummation of the Business Combination (as defined below) (the “Deferred Discount”); and

 

WHEREAS, the Company
and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold
the Property.

 

NOW THEREFORE, IT IS
AGREED:

 

1. Agreements
and Covenants of Trustee. The Trustee hereby agrees and covenants to:

 

(a) Hold the Property
in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established by the Trustee at
JPMorgan Chase Bank, N.A. (or at another U.S. chartered commercial bank with consolidated assets of $100 billion or more) and at
a brokerage institution selected by the Trustee that is reasonably satisfactory to the Company;

 

(b) Manage, supervise
and administer the Trust Account subject to the terms and conditions set forth herein;

 

(c) In a timely manner,
upon the written instruction of the Company, invest and reinvest the Property in United States government securities within the
meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of 185 days or less, or in money
market funds meeting the conditions of paragraphs (d)(2), (d)(3), (d)(4) and (d)(5) of Rule 2a-7 promulgated under the Investment
Company Act of 1940, as amended, which invest only in direct U.S. government treasury obligations, as determined by the Company;
it being understood that the Trust Account will earn no interest while account funds are uninvested awaiting the Company’s
instructions hereunder and the Trustee may earn bank credits or other consideration;

 

     

     

    

 

(d) Collect and receive,
when due, all interest or other income arising from the Property, which shall become part of the “Property,” as such
term is used herein;

 

(e) Promptly notify the
Company and the Representative of all communications received by the Trustee with respect to any Property requiring action by the
Company;

 

(f) Supply any necessary
information or documents as may be requested by the Company (or its authorized agents) in connection with the Company’s preparation
of the tax returns relating to assets held in the Trust Account;

 

(g) Participate in any
plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when instructed by the
Company to do so;

 

(h) Render to the Company
monthly written statements of the activities of, and amounts in, the Trust Account reflecting all receipts and disbursements of
the Trust Account;

 

(i) Commence liquidation
of the Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a letter from the
Company (“Termination Letter”) in a form substantially similar to that attached hereto as either Exhibit
A or Exhibit B, as applicable, signed on behalf of the Company by its Chief Executive Officer, President,
Chief Financial Officer or Chairman of the board of directors (the “Board”) or other authorized officer
of the Company (and in the case of Exhibit A, jointly signed by the Representative), and complete the liquidation of
the Trust Account and distribute the Property in the Trust Account, including any amounts representing interest earned on the Trust
Account, less interest previously released to, or reserved for use by, the Company in an amount up to $100,000 to pay dissolution
expenses (as applicable) and less any other interest released to, or reserved for use by, the Company to pay taxes as provided
in this Agreement only as directed in the Termination Letter and the other documents referred to therein, or (y) upon the date
which is the later of (1) 24 months after the closing of the Offering and (2) such later date as may be approved by the Company’s
shareholders in accordance with the Company’s amended and restated memorandum and articles of association,, if a Termination
Letter has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance
with the procedures set forth in the Termination Letter attached as Exhibit B and the Property in the Trust Account,
including any amounts representing interest earned on the Trust Account, less interest previously released to, or reserved for
use by, the Company in an amount up to $100,000 to pay dissolution expenses (as applicable) and less any other interest released
to, or reserved for use by, the Company to pay taxes, shall be distributed to the Public Shareholders of record as of such date.
The Trustee agrees to serve as the paying agent of record (“Paying Agent”) with respect to any distribution
of Property that is to be made to the Public Shareholders and, in its separate capacity as Paying Agent, agrees to distribute such
Property directly to the Company’s Public Shareholders in accordance with the terms of this Agreement and the Company’s
amended and restated memorandum and articles of association in effect at the time of such distribution;

 

(j) Upon written request
from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit
C (a “Withdrawal Request”), withdraw from the Trust Account and distribute to the Company interest
in an amount up to $100,000 to pay dissolution expenses and any interest to cover any tax obligation owed by the Company as a result
of assets of the Company or any taxes of the Company which amount shall be delivered directly to the Company by electronic funds
transfer or other method of prompt payment. Any Withdrawal Request for a distribution to pay a tax shall be accompanied by a copy
of the tax bill from the State of Delaware for the Company and a written statement from the principal financial officer of the
Company setting forth the actual amount payable. To the extent there is not sufficient cash in the Trust Account to fulfill a Withdrawal
Request, the Trustee shall liquidate such assets held in the Trust Account as shall be designated by the Company in writing to
make such distribution, so long as there is no reduction in the principal amount per share initially deposited in the Trust Account.
The Trustee acknowledges and agrees that no amount in excess of interest income earned on the Property shall be payable from the
Trust Account to the Company pursuant to this Section 1(j). A Withdrawal Request shall constitute presumptive evidence
that the Company is entitled to said funds, and the Trustee shall have no responsibility to look beyond said request; and

 

     2

     

    

 

(k) Upon written request
from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit
D, the Trustee shall distribute on behalf of the Company the amount requested by the Company to be used to redeem Ordinary
Shares from Public Shareholders properly submitted in connection with a shareholder vote to approve an amendment to the Company’s
amended and restated memorandum and articles of association to modify the substance or timing of the Company’s obligation
to provide holders of Ordinary Shares the right to have their Ordinary Shares redeemed in connection with an initial Business Combination
or to redeem 100% of the Public Shares if the Company has not consummated an initial Business Combination within such time as is
described in Section 1(i) of this Agreement. The written request of the Company referenced above shall constitute presumptive evidence
that the Company is entitled to distribute said funds, and the Trustee shall have no responsibility to look beyond said request;
and

 

(l) Not make any withdrawals
or distributions from the Trust Account other than pursuant to Section 1(i) through 1(k) above.

 

2. Agreements
and Covenants of the Company. The Company hereby agrees and covenants to:

 

(a) Give all instructions
to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, President, Chief Executive Officer or
Chief Financial Officer. In addition, except with respect to its duties under Sections 1(i), 1(j) and
1(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or
instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to
give written instructions, provided that the Company shall promptly confirm such instructions in writing;

 

(b) Subject to Section
4 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable counsel
fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection
with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand,
which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest
earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct.
Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant
to which the Trustee intends to seek indemnification under this Section 2(b), the Trustee shall notify the Company
in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee shall have
the right to conduct and manage the defense against such Indemnified Claim; provided that the Trustee shall obtain
the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee
shall not agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not
be unreasonably withheld. The Company may participate in such action with its own counsel;

 

(c) Pay the Trustee the
fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction
processing fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the
Property shall not be used to pay such fees unless and until the Business Combination is consummated. The Company shall pay the
Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Trustee shall
refund to the Company the annual administration fee (on a pro rata basis) with respect to any period after the liquidation of the
Trust Account. The Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section
2(c) and as may be provided in Section 2(b) hereof;

 

(d) In connection with
any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization
or similar business combination involving the Company and one or more businesses (a “Business Combination”),
provide to the Trustee an affidavit or certificate of the inspector of elections for the general meeting verifying the vote of
such shareholders regarding such Business Combination;

 

(e) Provide the Representative
with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed
withdrawal from the Trust Account promptly after it issues the same;

 

     3

     

    

 

(f) Instruct the Trustee
to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make any
distributions that are not permitted under this Agreement;

 

(g) Within four (4) business
days after the Underwriters exercise the over-allotment option (or any portion thereof) or such over-allotment expires, provide
the Trustee with a notice in writing of the total amount of the Deferred Discount due with respect to such exercise, which shall
be up to $8,050,000; and

 

(h) Unless otherwise
agreed between the Company and the Representative, ensure that any Instruction Letter (as defined in Exhibit A) delivered in connection
with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to the account
or accounts directed by the Representative on behalf of the Underwriters prior to any transfer of the funds held in the Trust Account
to the Company or any other person.

 

3. Limitations
of Liability. The Trustee shall have no responsibility or liability to:

 

(a) Imply obligations,
perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this Agreement and that
which is expressly set forth herein;

 

(b) Take any action with
respect to the Property, other than as directed in Section 1 hereof, and the Trustee shall have no liability to any third party
except for liability arising out of the Trustee’s gross negligence, fraud or willful misconduct;

 

(c) Institute any proceeding
for the collection of any principal and income arising from, or institute, appear in or defend any proceeding of any kind with
respect to, any of the Property unless and until it shall have received instructions from the Company given as provided herein
to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto;

 

(d) Refund any depreciation
in principal of any Property;

 

(e) Assume that the authority
of any person designated by the Company to give instructions hereunder shall not be continuing unless provided otherwise in such
designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee;

 

(f) The other parties
hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted, in good faith
and in the Trustee’s best judgment, except for the Trustee’s gross negligence, fraud or willful misconduct. The Trustee
may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel
(including counsel chosen by the Trustee, which counsel may be the Company’s counsel), statement, instrument, report or other
paper or document (not only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth
and acceptability of any information therein contained) which the Trustee believes, in good faith and with reasonable care, to
be genuine and to be signed or presented by the proper person or persons. The Trustee shall not be bound by any notice or demand,
or any waiver, modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a written
instrument delivered to the Trustee, signed by the proper party or parties and, if the duties or rights of the Trustee are affected,
unless it shall give its prior written consent thereto;

 

(g) Verify the accuracy
of the information contained in the Registration Statement;

 

(h) Provide any assurance
that any Business Combination entered into by the Company or any other action taken by the Company is as contemplated by the Registration
Statement;

 

(i) File information
returns with respect to the Trust Account with any local, state or federal taxing authority or provide periodic written statements
to the Company documenting the taxes payable by the Company, if any, relating to any interest income earned on the Property;

 

(j) Prepare, execute
and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and activities relating
to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company, including, but not limited
to, tax obligations, except pursuant to Section 1(j) hereof; or

 

     4

     

    

 

(k) Verify calculations,
qualify or otherwise approve the Company’s written requests for distributions pursuant to Sections 1(i), 1(j) and
1(k) hereof.

 

4. Trust Account
Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including,
without limitation, under Section 2(b) or Section 2(c) hereof, the Trustee shall pursue such
Claim solely against the Company and its assets outside the Trust Account and not against the Property or any monies in the Trust
Account.

 

5. Termination.
This Agreement shall terminate as follows:

 

(a) If the Trustee gives
written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable efforts to locate
a successor trustee, pending which the Trustee shall continue to act in accordance with this Agreement. At such time that the Company
notifies the Trustee that a successor trustee has been appointed and has agreed to become subject to the terms of this Agreement,
the Trustee shall transfer the management of the Trust Account to the successor trustee, including but not limited to the transfer
of copies of the reports and statements relating to the Trust Account, whereupon this Agreement shall terminate; provided, however,
that in the event that the Company does not locate a successor trustee within ninety (90) days of receipt of the resignation notice
from the Trustee, the Trustee may submit an application to have the Property deposited with any court in the State of New York
or with the United States District Court for the Southern District of New York and upon such deposit, the Trustee shall be immune
from any liability whatsoever; or

 

(b) At such time that
the Trustee has completed the liquidation of the Trust Account and its obligations in accordance with the provisions of Section
1(i) and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate
except as set forth in Section 2(b).

 

6. Miscellaneous.

 

(a) The Company and the
Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds transferred
from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating to such security
procedures to authorized persons. Each party must notify the other party immediately if it has reason to believe unauthorized persons
may have obtained access to such confidential information, or of any change in its authorized personnel. In executing funds transfers,
the Trustee shall rely upon all information supplied to it by the Company, including account names, account numbers, and all other
identifying information relating to a Beneficiary, Beneficiary’s bank or intermediary bank. Except for any liability arising
out of the Trustee’s gross negligence, fraud or willful misconduct, the Trustee shall not be liable for any loss, liability
or expense resulting from any error in the information or transmission of the funds.

 

(b) This Agreement shall
be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts
of law principles that would result in the application of the substantive laws of another jurisdiction. This Agreement may be executed
in several original or facsimile counterparts, each one of which shall constitute an original, and together shall constitute but
one instrument.

 

(c) This Agreement contains
the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except for Section
1(i), 1(j) and 1(k) hereof (which may not be modified, amended or deleted without the affirmative vote of sixty five percent
(65%) of the then outstanding Ordinary Shares and Class B ordinary shares, par value $0.0001 per share, of the Company voting together
as a single class; provided that no such amendment will affect any Public Shareholder who has elected to redeem his, her or its
Ordinary Shares in connection with a shareholder vote to amend this Agreement), this Agreement or any provision hereof may only
be changed, amended or modified (other than to correct a typographical error) by a writing signed by each of the parties hereto.

 

     5

     

    

 

(d) The parties hereto
consent to the jurisdiction and venue of any state or federal court located in the City of New York, State of New York, for purposes
of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT, EACH PARTY
WAIVES THE RIGHT TO TRIAL BY JURY.

 

(e) Any notice, consent
or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing and shall be sent
by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or by facsimile
transmission or electronic mail:

 

if to the Trustee,
to:

 

Continental Stock Transfer
& Trust Company

1 State Street, 30th
Floor

New York, New York 10004

Attn: Francis Wolf and
Celeste Gonzalez

Email: fwolf@continentalstock.com

Email: cgonzalez@continentalstock.com

Fax No.: (212) 509-5150

 

if to the Company,
to:

 

Sports Ventures Acquisition
Corp.

9705 Collins Ave 1901N

Bal Harbour, FL 33154

Attn: [__________]

 

in each case, with
copies to:

 

Ropes & Gray LLP

1211 Avenue of the Americas,

New York, NY 10036

Attn: Paul D. Tropp,
Esq.

Email: paul.tropp@ropesgray.com

Fax No.:

 

and

 

Deutsche Bank Securities
Inc.

60 Wall Street

New York, New York 10005

Attn: General Counsel

 

and

 

Ellenoff Grossman &
Schole LLP

1345 Avenue of the Americas

New York, NY 10105

Attn: Stuart Neuhauser,
Esq.

Email: sneuhauser@egsllp.com

 

    6

     

    

 

(f) This Agreement may not be assigned by
the Trustee without the prior consent of the Company.

 

(g) Each of the Company
and the Trustee hereby represents that it has the full right and power and has been duly authorized to enter into this Agreement
and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it shall not make
any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to any funds in the Trust
Account under any circumstance.

 

(h) This Agreement is
the joint product of the Trustee and the Company and each provision hereof has been subject to the mutual consultation, negotiation
and agreement of such parties and shall not be construed for or against any party hereto.

 

(i) This Agreement may
be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together
constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic transmission
shall constitute valid and sufficient delivery thereof.

 

(j) Each of the Company
and the Trustee hereby acknowledges and agrees that Deutsche Bank Securities Inc., on behalf of the Underwriters, is a third party
beneficiary of this Agreement.

 

(k) Except as specified
herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any other person or entity.

 

 

[Signature Page Follows]

 

     8

     

    

 

IN WITNESS WHEREOF,
the parties have duly executed this Investment Management Trust Agreement as of the date first written above.

 

	 	Continental Stock Transfer & Trust Company, as Trustee
	 	 	 
	 	By:	 
	 	 	Name:	Francis Wolf
	 	 	Title:	Vice President

 

 

	 	Sports Ventures Acquisition Corp.
	 	 	 
	 	By:	 
	 	 	Name:	Alan Kestenbaum
	 	 	Title:	Chief Executive Officer

 

 

[Signature Page to the Sports Ventures Acquisition
Corp. Investment Management Trust Agreement]

 

     9

     

    

 

SCHEDULE A

 

	Fee Item	 	Time and method of payment	 	Amount	 
	Initial acceptance fee	 	Initial closing of IPO by wire transfer	 	$	3,500.00	 
	Annual fee	 	First year, initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check	 	$	10,000.00	 
	Transaction processing fee for disbursements to Company under Section 1	 	Billed to Company following disbursement made to Company under Section 1	 	$	250.00	 
	Paying Agent services as required pursuant to Section 1	 	Billed to Company upon delivery of service pursuant to Section 1	 	 	Prevailing rates	 

 

    Sch A-1

     

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust
Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

	 	Re:	Trust Account - Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section
1(i) of the Investment Management Trust Agreement between Sports Ventures Acquisition Corp. (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of [_______], 2020 (“Trust
Agreement”), this is to advise you that the Company has entered into an agreement with (“Target Business”)
to consummate a business combination with Target Business (“Business Combination”) on or about [insert
date]. The Company shall notify you at least seventy-two (72) hours in advance of the actual date of the consummation of the
Business Combination (“Consummation Date”). Capitalized terms used but not defined herein shall have
the meanings set forth in the Trust Agreement.

 

In accordance with
the terms of the Trust Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust Account and to
transfer the proceeds into the trust operating account at JPMorgan Chase Bank, N.A. so that, on the Consummation Date, all of funds
held in the Trust Account will be immediately available for transfer to the account or accounts that the Company shall direct on
the Consummation Date (including as directed to it by the Representative on behalf of the Underwriters (with respect to the Deferred
Discount)). It is acknowledged and agreed that while the funds are on deposit in the trust operating account at JPMorgan Chase
Bank, N.A. awaiting distribution, the Company will not earn any interest or dividends.

 

On the Consummation
Date (i) counsel for the Company shall deliver to you written notification that the Business Combination has been consummated,
or will be consummated concurrently with your transfer of funds to the accounts as directed by the Company (the “Notification”)
and (ii) the Company shall deliver to you (a) a certificate by the Chief Executive Officer or President, which verifies that the
Business Combination has been approved by a vote of the Company’s shareholders, if a vote is held, and (b) a joint written
instruction signed by the Company and the Representative with respect to the transfer of the funds held in the Trust Account, including
payment of the Deferred Discount to the Representative from the Trust Account (the “Instruction Letter”).
You are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt of the Notification
and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits held in
the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the Company in writing of the
same and the Company shall direct you as to whether such funds should remain in the Trust Account and be distributed after the
Consummation Date to the Company. Upon the distribution of all the funds from the Trust Account, your obligations under the Trust
Agreement shall be terminated.

 

    A-1

     

    

 

In the event that the
Business Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified you on
or before the original Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from
the Company, the funds held in the Trust Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on the
business day immediately following the Consummation Date as set forth in the notice as soon thereafter as possible.

 

	 	Very truly yours,
	 
	 	Sports Ventures Acquisition Corp.
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

 

	AGREED TO AND	 
	ACKNOWLEDGED BY	 
	 	 
	Deutsche Bank Securities Inc.	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

    A-2

     

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust
Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

	 	Re:	Trust Account - Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section
1(i) of the Investment Management Trust Agreement between Sports Ventures Acquisition Corp. (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of [_______], 2020 (“Trust
Agreement”), this is to advise you that the Company has been unable to effect a business combination with a Target
Business within the time frame specified in Section 1(i) of the Trust Agreement. Capitalized terms used but not defined herein
shall have the meanings set forth in the Trust Agreement.

 

In accordance with
the terms of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to transfer the
total proceeds into the trust operating account at JPMorgan Chase Bank, N.A. to await distribution to the Public Shareholders.
The Company has selected [___], 202_, as the effective date for the purpose of determining when the Public Shareholders will be
entitled to receive their share of the liquidation proceeds. In your capacity as Paying Agent, we hereby direct you to distribute
said funds directly to the Company’s Public Shareholders in accordance with the terms of the Trust Agreement and the amended
and restated memorandum and articles of association of the Company as in effect at the time of such distribution. Upon the distribution
of all funds in the Trust Account, your obligations under the Trust Agreement shall be terminated, except to the extent otherwise
provided in Section 1(j) of the Trust Agreement.

 

	 	Very truly yours,
	 
	 	Sports Ventures Acquisition Corp.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	cc:	Deutsche Bank Securities Inc.

 

    B-1

     

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust
Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

	 	Re:	Trust Account - Withdrawal Instruction

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section
1(j) of the Investment Management Trust Agreement between Sports Ventures Acquisition Corp. (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of [_______], 2020 (“Trust
Agreement”), the Company hereby requests that you deliver to the Company $____ of the interest income earned on the
Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

The Company needs such
funds [to pay for the tax obligations as set forth on the attached tax return or tax statement] [in connection with its dissolution
[upon the expiration of the 24 month period following completion of the Offering]]. In accordance with the terms of the Trust Agreement,
you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to
the Company’s operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	Very truly yours,
	 
	 	Sports Ventures Acquisition Corp.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	cc:	Deutsche Bank Securities Inc.

 

    C-1

     

    

 

EXHIBIT D

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust
Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf & Celeste Gonzalez

 

	 	Re:	Trust Account Shareholder Redemption Withdrawal Instruction

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section
1(j) of the Investment Management Trust Agreement between Sports Ventures Acquisition Corp. (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of [_______], 2020 (“Trust
Agreement”), the Company hereby requests that you liquidate sufficient amounts from the trust account and deliver
to the redeeming Public Shareholders of the Company $____ of the principal and interest income earned on the Property as of the
date hereof to a segregated account held by you on behalf of the Beneficiaries. Capitalized terms used but not defined herein shall
have the meanings set forth in the Trust Agreement.

 

The Company needs such
funds to pay its Public Shareholders who have properly elected to have their Ordinary Shares redeemed by the Company in connection
with a shareholder vote to approve an amendment to the Company’s amended and restated memorandum and articles of association
to modify the substance or timing of the Company’s obligation to redeem 100% of its public Ordinary Shares if the Company
has not consummated an initial Business Combination within such time as is described in Section 1(i) of the Trust Agreement. As
such, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter
to a segregated account held by you on behalf of the Beneficiaries.

 

	 	Very truly yours,
	 	 
	 	Sports Ventures Acquisition Corp.
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	cc:	Deutsche Bank Securities Inc.

 

    D-1

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