Item 1.01 Entry into a Material Definitive Agreement



On May 25, 2021, Academy, Ltd. ("Academy"), a wholly-owned subsidiary of Academy
Sports and Outdoors, Inc. (the "Company"), entered into Amendment No. 4 (the
"Amendment") to Academy's Second Amended and Restated Credit Agreement, dated as
of November 6, 2020, among Academy, as Borrower, Credit Suisse AG, Cayman
Islands Branch, as the administrative agent and collateral agent, the several
lenders party thereto and the several other parties named therein (as previously
amended, the "Existing Credit Agreement" and as amended by the Amendment, the
"Amended Credit Agreement").
Pursuant to the terms of the Amendment, Academy (i) reduced the applicable
margin on LIBOR borrowings under the Existing Credit Agreement from 5.00% to
3.75% and (ii) utilized cash on hand to repay $99 million of outstanding
borrowings under the Existing Credit Agreement, leaving an outstanding principal
balance of $300 million under the Amended Credit Agreement. Borrowings under the
Amended Credit Agreement will continue to mature on November 6, 2027, and all
other material terms and provisions of the Existing Credit Agreement remain
substantially the same as the terms and provisions in place immediately prior to
the effectiveness of the Amendment.
The foregoing description of the Amendment does not purport to be complete and
is qualified in its entirety by reference to the full text of the Amendment
which is filed herewith as Exhibit 10.1 and is incorporated herein by reference.

Item 7.01 Regulation FD Disclosure. On May 25, 2021, the Company issued a press release announcing the closing of the Amendment and an upgrade to the Company's credit rating, a copy of which is attached hereto as Exhibit 99.1 and incorporated herein by reference. The information contained under this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits



(d) Exhibits.
Exhibit No.               Description
  10.1                    Amendment No. 4, dated May 25, 2021, to the Second Amended and Restated
                          Credit Agreement among Academy, Ltd., as Borrower, Credit Suisse AG,
                          Cayman Islands Branch, as the administrative agent and collateral agent,
                          the several lenders party thereto and the several other parties named
                          therein.
  99.1                    Press Release dated May 25, 2021.

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