UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: (DATE OF EARLIEST EVENT REPORTED): JULY 27, 2005
COMMISSION FILE NO.: 000-49756
THE WORLD GOLF LEAGUE, INC.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 98-0201235
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(STATE OR OTHER JURISDICTION (IRS EMPLOYER IDENTIFICATION NO.)
OF INCORPORATION)
2139 STATE ROAD 434, SUITE 101, LONGWOOD, FLORIDA 32779
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(407) 331-6272
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(ISSUER TELEPHONE NUMBER)
N/A
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(FORMER NAME AND ADDRESS)
Check the appropriate box below if the Form 8-K is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On August 3, 2005, the Registrant entered into an agreement with Paxson
Productions, Inc. ("Paxson"), a subsidiary of Paxson Communications Corporation,
to broadcast The WGL Million Dollar Shootout, a reality-based television program
that the Registrant will produce. Paxson will provide airing for seven episodes
of The WGL Million Dollar Shootout during a term beginning on Monday, January
23, 2006, from 7:00 pm to 8:00 pm Eastern and Pacific Time (6:00 pm to 7:00 pm
Central and Mountain Time) and each Monday thereafter through to March 6, 2006.
Paxson Communications Corporation owns and operates a network of television
stations and provides programming to its over-the-air broadcast television
stations and cable and satellite televisions systems within the United States
which together reach approximately 85 million households.
The Registrant entered into a one-year personal service contract with John
O'Hurley beginning on July 27, 2005. Mr. O'Hurley will host The WGL Million
Dollar Shootout. The Registrant will use Mr. O'Hurley for five days of shooting
during October 2005. The Registrant may use the name, image and likeness of Mr.
O'Hurley for the Registrant's overall marketing and promotion of The WGL Million
Dollar Shootout and the Registrant's website during the one-year term of the
contract. The Registrant will pay an aggregate of $105,000 as consideration for
Mr. O'Hurley's services, of which 5% is payable within five days of the contract
being fully executed, 15% is payable within thirty days of the contract being
fully executed, and the remaining 80% is payable within five days of the
completion of shooting. In addition, the Registrant will pay all reasonable
travel expenses including first class or private air travel, accommodations and
meals for Mr. O'Hurley. Mr. O'Hurley and the Registrant may mutually agree to
renew the contract. The contract does not cover additional services such as
appearances, which will be negotiated on a case-by-case basis.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
Exhibit No. Description
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10.1 Agreement with Paxson Productions, Inc.
10.2 Personal Service Contract with John O'Hurley
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
The World Golf League, Inc.
August 10, 2005
/s/ Michael S. Pagnano
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Michael S. Pagnano
Chief Executive Officer