Posted: 6/1/2012
Prince Sports, which filed for Chapter 11 bankruptcy protection last month, has entered into a deal to license its products to Battle Sports Science. The six-year agreement provides guaranteed minimum royalty payments of $15.1 million between 2013 and 2017.
The agreement, which requires the approval of a Delaware bankruptcy judge, allows Battle Sports Science the right to source, market and distribute Prince products in the U.S. through the end of 2017.
The U.S. Bankruptcy Court in Delaware was scheduled to hold a hearing on the proposed licensing agreement after deadline on May 31.
Related Previous post : Business News, Prince Sports in Bankrupcy
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