Agassi Sports Forms Let's Play to Roll Up Racket Clubs

Agassi Sports Entertainment Corp., an OTC-traded company built around the Andre Agassi and Stefanie Graf brands, formed a facilities subsidiary called Let's Play, LLC on October 1. Jonathan Fornaci, a former executive across franchising, fitness and real estate, will run it as president. The unit aims to assemble a global network of pickleball and padel clubs through acquisitions, conversions and partnerships.

Four ways to grow

Let's Play outlined four channels: exclusive international master licenses for operators who commit to building clubs in their countries, branded courts at hotels and resorts, acquisition and conversion of existing U.S. pickleball and padel clubs, and a future membership that grants access across owned and partner clubs. The structure mixes franchising, owned assets and an affiliate network under one brand.

The membership is the real thesis

The company's own pitch is that players are stuck with one club in one city. A membership that travels with them gives independent clubs a reason to affiliate without a full franchise conversion, and gives Let's Play recurring revenue that does not require owning real estate. If it works, the network becomes the asset, much like a hotel loyalty program binds independent properties to a flag.

Execution risk is high

The company's disclosures flag a limited operating history, little revenue, a history of losses and the need to raise capital to continue as a going concern. No acquisitions, licensees or financing were announced with the launch. A famous name can open doors with master licensees, but it does not replace capital or a tested operating system.

What club owners should take from it

Pickleball and padel remain fragmented, and consolidation capital is circling the category. Independent club owners should expect more inbound offers from platforms promising brand power, booking and member traffic. The question to ask any of them is simple: how many members and how much revenue does the platform deliver, measured, before you give up control of your club.