Document:

Form of Administrative Services Agreement

 Exhibit 10.5 
 SPORTS PROPERTIES ACQUISITION CORP. 
 FORM OF ADMINISTRATIVE SERVICES AGREEMENT 
 This Agreement is dated                     ,
2007 and is entered into between Medallion Financial Corp. (“Firm”) and Sports Properties Acquisition Corp. (“Client”). Firm and Client agree that Firm will provide to Client for and in consideration of the
fees set forth herein, an exclusive license to use the offices as provided herein below and, in common with Firm’s other clients, the non-exclusive license to use Firm’s facilities and services as outlined below. 
 1. BASIC TERMS. 
 A. Monthly
Fixed Fee for Base Services (as defined in Section 2 below): $2,000 
 B. Monthly Fixed Fee for Office Services (as defined in
Section 3 below): $5,500 
 C. Facilities: 437 Madison Avenue, New York, New York 10022 (the “Building”) and the
offices contained therein (the “Offices”). 
 D. Term: from the effective date of Client’s proposed initial
public offering of its units pursuant to Client’s Registration Statement on Form S-1 as filed with the Securities and Exchange Commission on
[                    ], 2007, as amended (such Registration Statement, the “Registration Statement” and such date, the
“Effective Date”) until Client’s failure to consummate a Business Combination (as defined in the Registration Statement) on any day during the twenty-four-month period immediately following the Effective Date (the
“Term”). 
 2. BASE SERVICES. Client shall be provided with the non-exclusive use of the Offices and shall
have access to the Offices twenty-four (24) hours a day, seven (7) days a week. In exchange for the Monthly Fixed Fee for Base Services, Firm agrees to provide the following base services: office cleaning, maintenance services, office
supplies, electricity, heating and air conditioning to the Offices (the “Base Services”). In addition, Client will have reasonable use of Firm common area facilities. Client shall use the Offices and auxiliary areas of the
facilities solely for general office use in the conduct of the Client’s business. 
 If for any reason whatsoever, Firm is unable to
deliver possession of the Offices or a mutually agreed upon alternative office at the time herein agreed, Client may either extend the Effective Date until the Offices become available or, as its sole remedy for such failure, cancel and terminate
this Agreement if the Offices are not delivered to Client within five (5) business days after written notice to Firm by Client, in which case any prior payments shall be fully refunded. No such failure to deliver possession shall subject
Firm to any liability for loss or damage, nor affect the validity of this Agreement or the obligations of the Client hereunder. 
 In order
to accommodate the needs of potential multiple office clients, Firm will have the right, upon ten (10) days’ written notice, to relocate Client to other offices in the Building and to substitute such other offices for the Offices
contracted herein, provided such other offices are substantially similar in area and configuration to Client’s contracted offices and provided Client shall incur no increase in the total monthly fee or any relocation cost or expense.

 3. OFFICE SERVICES. Firm agrees, in exchange for a Monthly Fixed Fee for Office Services (which fee is in addition to the
Monthly Fixed Fee for Base Services), to provide the following office services: administrative support, including, but not limited to, information technology, secretarial and bookkeeping services as well as communications services such as unlimited
use of Internet/Data, telephone, fax and photocopier (the “Office Services”). 
 Client will not offer to any party in the
Building any of the services which Firm provides to Client. Firm will answer all incoming phone calls, unless otherwise mutually agreed, during normal business hours, as reasonably determined by Firm. 

 Client acknowledges that due to the imperfect nature of verbal, written and electronic communications,
Firm shall not be responsible for damages, direct or consequential, which may result from the failure of Firm to furnish any service, including but not limited to the conveying of messages, communications and other utilities or services required
under this Agreement. 
 Client expressly agrees to waive the right to make any claim for damages, direct or consequential, arising out of
any failure to furnish any utility, service or facility, any error or omission with respect thereto, or any delay or interruption of the same. 
 4. DURATION OF AGREEMENT. After expiration of the Term, the Agreement will automatically terminate. Prior to expiration of the term, either party may terminate the Agreement upon thirty (30) days’ advance
written notice to the other party. 
 5. PAYMENTS. The monthly invoices/statements for the Monthly Fixed Fee for Base
Services and the Monthly Fixed Fee for Office Services will be billed in advance. Statements will be placed in the mailbox or faxed to Client on the first day of each month with payments due by the fifth day of each month. If the term
shall not commence on the first day of a month or end on the last day of a month, fees for any such month shall be prorated. All amounts payable hereunder shall be payable at the office of Firm or to such other location or to any agent
designated in writing by Firm. 
 6. DAMAGES AND INSURANCE. Client will not damage or deface the furnishings, walls, floors
or ceiling. Client will not cause damage to any part of the facilities or the Building or disturb the quiet enjoyment of any other licensee or occupant of the Building nor suffer to be made any waste, obstruction or unlawful, improper or
offensive use of the Offices or the common area facilities. At the termination of this Agreement, Client will return the Offices in as good of condition as when Client took possession, though normal wear and tear shall be expected. Firm
shall have the right to show the Offices to prospective clients, provided Firm will use reasonable efforts not to disrupt Client’s business. 
 Firm and its respective directors, licensors, officers, agents, servants and employees shall not, to the extent permitted by law, except upon the affirmative showing of Firm’s gross negligence or willful misconduct, be liable for, and
Client waives all right of recovery against such entities and individuals for any damage or claim with respect to any injury to any person or damage to, or loss or destruction of any property of Client, its employees, authorized persons and invitees
due to any act, omission or occurrence in or about the Firm facilities or the Building. Without limitation of any other provision hereof, Client agrees to indemnify, defend, protect and hold Firm and its respective directors, licensors,
officers, agents, servants and employees harmless from and against all liability to third parties arising out of Client’s use and occupancy of the Offices or actions or omissions of Client and its agents, employees, contractors, and
invitees. Client further agrees that all personal property of Client, its agents, employees, contractors, and invitees, within or about the Firm facilities of the Building shall be at the sole risk of Client. 
 Firm and Client each hereby waive any and all rights of recovery against each other, or against the officers, employees, agents or representatives of the
other, for loss of or damage to its property or the property of others under its control, to the extent such loss or damage is covered by any insurance policy. 
 If Firm’s Building or facilities are made unusable, in whole or in part by fire or other casualty not due to the negligence of Client, Firm may, at its option, terminate the Agreement upon notice to Client,
effective upon such casualty, or may elect to repair, restore, or rehabilitate, or cause to be repaired, restored or rehabilitated, the Firm facilities, without expense to Client, within ninety (90) days or within such longer period of time as
may be required because of events beyond Firm ‘s control. The Monthly Fixed Fee for Base Services and the Monthly Fixed Fee for Office Services shall be abated on a pro rata basis for the period of time the Offices are unusable.

 7. DEFAULT. The Client shall be deemed to be in default under this Agreement: (a) if Client fails to pay the Monthly
Fixed Fee for Base Services or Monthly Fixed Fee for Office Services, (b) if Client fails to promptly and fully perform any other provisions of this Agreement and any such default continues in excess of five (5) business days after written
notice by Firm, or (c) if Client fails to comply with the laws or permit licensing rules and other requirements regulating the conduct of Client’s business. Should Client be in default hereunder, Firm may terminate any or all of the
services for the period of such default. 
  

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 8. TRUST FUND WAIVER. Firm has no right, title, interest, or claim of any kind
(“Claim”) in or to any monies in the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof, by and between the Company and Continental Stock Transfer & Trust Company,
as trustee of the Trust Account), and hereby waives any Claim in or to any monies in the Trust Account it may have in the future, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account
for any reason whatsoever.
 9. MISCELLANEOUS. 
 A. This is the only Agreement between the parties relating to the subject matter hereof. All amendments to this Agreement shall be in writing and signed by all parties. Any attempted amendment shall be
void. The invalidity or unenforceability of any provision hereof shall not affect the remainder hereof. 
 B. All waivers must be
in writing and signed by the waiving party. Firm’s failure to enforce any provision of this Agreement or its acceptance of fees shall not be a waiver and shall not prevent Firm from enforcing any provisions of this Agreement in the
future. No receipt of money by Firm shall be deemed to waive any default of Client or to extend, reinstate or continue the term hereof. 
 C. The laws of the State of New York shall govern this Agreement. 
 D. Client represents and warrants to Firm that there
are no agents, brokers, finders or other parties with whom Client has dealt who are or may be entitled to any commission or fee with respect to this Agreement. 
 E. Neither Client nor anyone claiming by, through or under Client shall assign this Agreement or permit the use of any portion of the Offices or the Firm Building or facilities by any person other than Client.

 F. All notices hereunder shall be in writing. Notices to Client shall be deemed to be duly given if hand-delivered to
Client’s mailbox in the Firm facilities at 437 Madison Avenue, New York, New York 10022. Notice to Firm shall be deemed to be duly given if mailed by registered or certified mail, postage prepaid, to 437 Madison Avenue, New York, New
York 10022. 
 G. The Client acknowledges that Firm will comply with U.S. Postal Service regulations regarding client mail and, upon
termination of this Agreement, it will be Client’s responsibility to notify all parties of termination of the use of the above-described address. 
 H. Firm may assign this Agreement and/or any fees hereunder and Client agrees to attorn any such assignee. 
 I. Notwithstanding anything to the contrary contained herein, Client shall look solely to the interest of Firm in this Agreement for the satisfaction of any of Client’s remedies with regard to the payment of money or otherwise and
no other property or assets of Firm shall be subject to levy, execution or other enforcement procedures for the satisfaction of Client’s remedies with respect to this Agreement, the relationship of the parties hereunder or Client’s use of
the Offices, such exculpation of personal liability to be absolute. 
 J. Firm shall not be liable for any interruption or error in the
performance of its services to Client. Client waives any recourse against Firm arising from the provision of such services, including, without limitation, any claim of business interruption or for any indirect, incidental, special,
consequential or punitive damages, except for claims arising out of willful misconduct by Firm. 
  

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 K. Firm will not be liable for any claim of business interruption or for any indirect, incidental,
special, consequential, exemplary or punitive damages arising out of any failure to furnish any service or facility, any error or omission with respect thereto, or any delay or interruption of the same. 
 L. Firm and its agents will have the right of access to the Offices and the Firm Building and facilities at any time for the purpose of
(i) making any repairs, alterations and/or inspections that it deems necessary in its sole discretion for the preservation, safety or improvements of the facilities, or (ii) to show the facilities to prospective Clients without in any way
being deemed or held to have committed an eviction (constructive or otherwise) of or trespass against Client. 
 M. Failure of Firm to
insist upon the strict performance of any term or condition of this Agreement or to exercise any right or remedy available for a breach thereof, or acceptance of full or partial payment during the continuance of any such breach, will not constitute
a waiver of any such breach or any such term or condition. No term or condition of this Agreement required to be performed by Client and no breach thereof, will be waived, altered or modified, except by a written instrument executed by Firm.

 N. Client will comply with and be bound by all provisions of this Agreement and, subject to the limitations listed above in
Section 6, Client will indemnify and hold Firm harmless from and against any claim or liability arising from Client’s breach of this Agreement. 
  

									
	SPORTS PROPERTIES ACQUISITION CORP.	 		 	MEDALLION FINANCIAL CORP.
					
	By:	 	  
	 		 	By:	 	  

	Name:	 	Tony Tavares	 		 	Name:	 	Andrew M. Murstein
	Title:	 	President and Chief Executive Officer	 		 	Title:	 	President
					
	Date:	 	  
	 		 	Date:	 	  

  

 - 4 -Form of Subscription Agreement

 Exhibit 10.6 
 FORM OF SUBSCRIPTION AGREEMENT 
 SUBSCRIPTION AGREEMENT (this “Agreement”) made as of this
        day of                     , 2007 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”) 5,000,000 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 $7.50 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. 
  

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 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. 
  

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 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. 
  

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 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. 
  

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 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. 
  

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 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. 
  

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	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
                    , 2007. 
  

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

  

 - 8 -

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