<PAGE>
                                                           EXHIBIT 10.11

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR
OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT
OR PURSUANT TO RULE 144 OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE
CORPORATION AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.


                        WARRANT TO PURCHASE PREFERRED STOCK


Issue Date:          June 7, 1999
Expiration Date:     June 7, 2004


       THIS WARRANT CERTIFIES THAT, for good and valuable consideration, receipt
of which is hereby acknowledged, CRUTTENDEN ROTH INCORPORATED, or its assigns
("Holder") is entitled to purchase 89,591 fully paid and nonassessable shares of
Series B Preferred Stock (the "Shares") of COLLEGECLUB.COM (the "Company") at
the initial exercise price per Share of $10.26 (the "Warrant Price") as adjusted
pursuant to Article 2 of this Warrant, subject to the provisions and upon the
terms and conditions set forth of this Warrant.

ARTICLE 1.  EXERCISE

       1.1    METHOD OF EXERCISE.  At any time prior to the expiration or
termination of this Warrant, Holder may exercise this Warrant by surrendering
this Warrant and delivering a duly executed Notice of Exercise in substantially
the form attached as Appendix 1 to the principal office of the Company.  Unless
Holder is exercising the conversion right set forth in Section 1.2, Holder shall
also deliver to the Company a check for the aggregate Warrant Price for the
Shares being purchased.

       1.2    CONVERSION RIGHT.  In lieu of exercising this Warrant as specified
in Section 1.1, Holder may from time to time convert this Warrant, in whole or
in part, into a number of Shares determined by dividing (a) the aggregate fair
market value of the Shares or other securities otherwise issuable upon exercise
of this Warrant minus the aggregate Warrant Price of such Shares by (b) the fair
market value of one Share.  The fair market value of the Shares shall be
determined pursuant to Section 1.3.

       1.3    FAIR MARKET VALUE.  If the Shares are traded in a public market,
the fair market value of the Shares shall be the average closing price of the
Shares (or the closing price of the Company's stock into which the Shares are
convertible) reported for the 20 business days before Holder delivers its Notice
of Exercise to the Company.  If the Shares are not traded in a public market,
the Board of Directors of the Company shall determine fair market value in its
reasonable good faith judgement.  The foregoing notwithstanding, if Holder
advises the Board of Directors in writing that Holder disagrees with such
determination, then the Company and Holder shall promptly agree on a reputable
investment banking firm to undertake such valuation.

<PAGE>

If the valuation of such investment banking firm is greater than that determined
by the Board of Directors, then all fees and expenses of such investment banking
firm shall be paid by the Company. In all other circumstances, such fees shall
be paid by Holder.

       1.4    DELIVERY OF CERTIFICATE AND NEW WARRANT.  Promptly after Holder
exercises or converts this Warrant, the Company shall deliver to Holder
certificates for the Shares acquired and, if this Warrant has not been fully
exercised or converted and has not expired, a new warrant in substantially
identical form representing the Shares not so acquired.  The foregoing
notwithstanding, after the conversion of the Company's outstanding Series B
Preferred Stock pursuant to Section 5(b) of the Company's Certificate of
Incorporation, this Warrant shall be exercisable for shares of the Company's
Common Stock only and any Common Stock issued upon exercise of this Warrant
shall be deemed "Shares" for all purposes hereunder.

       1.5    REPLACEMENT OF WARRANTS.  On receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of
this Warrant and, in the case of loss, theft or destruction, on delivery of an
indemnity agreement reasonably satisfactory in form and amount to the Company
or, in the case of mutilation, or surrender and cancellation of this Warrant,
the Company at its expense shall execute and deliver, in lieu of this Warrant, a
new warrant in substantially identical form.

       1.6    TERMINATION ON SALE, MERGER, OR CONSOLIDATION OF THE COMPANY.

              1.6.1  "ACQUISITION".  For the purpose of this Warrant,
"Acquisition" means any sale or other disposition of all or substantially all of
the assets of the Company, or any reorganization, consolidation, or merger of
the Company where the holders of the Company's securities before the transaction
beneficially own less than 50% of the outstanding voting securities of the
surviving entity after the transaction.

              1.6.2  TERMINATION ON ACQUISITION.  This Warrant shall terminate,
if not earlier exercised, in the event of an Acquisition.  In the event the
Company is proposed to be acquired, in addition to the notice requirements of
Section 3.2 hereof, the Company shall provide the Holder with all information
with respect to the Acquisition that is otherwise provided to shareholders of
the Company at such time and from time to time during the pendency of the
Acquisition, including (but not limited to) the proposed price to be paid in the
proposed Acquisition.  The Holder shall have the right to exercise this Warrant
on or prior to the closing date with respect to the proposed Acquisition; if the
Warrant is not exercised on or prior to such closing date, the Warrant shall
expire upon the occurrence of the closing of the Acquisition.

ARTICLE 2.  ADJUSTMENTS TO THE SHARES.

       2.1    STOCK DIVIDENDS, SPLITS, ETC.

              (A)    If the Company declares or pays a dividend on its common
stock (or the Shares if the Shares are securities other than common stock)
payable in common stock, or other securities, subdivides the outstanding common
stock into a greater amount of common stock, or;


                                       2
<PAGE>

              (B)    if the Shares are securities other than common stock,
subdivides the Shares in a transaction that increases the amount of common stock
into which the Shares are convertible, then upon exercise of this Warrant, for
each Share acquired, Holder shall receive, without cost to Holder, the total
number and kind of securities to which Holder would have been entitled had
Holder owned the Shares of record as of the date the dividend or subdivision
occurred.

       2.2    RECLASSIFICATION, EXCHANGE OR SUBSTITUTION.  Upon any
reclassification, exchange, substitution, or other event that results in a
change of the number and/or class of the securities issuable upon exercise or
conversion of this Warrant, Holder shall be entitled to receive, upon exercise
or conversion of this Warrant, the number and kind of securities and property
that Holder would have received for the Shares if this Warrant had been
exercised immediately before such reclassification, exchange, substitution, or
other event.  The Company or its successor shall promptly issue to Holder a new
warrant for such new securities or other property.  The new warrant shall
provide for adjustments which shall be as nearly equivalent as may be
practicable to the adjustments provided for in this Article 2 including, without
limitation, adjustments to the Warrant Price and to the number of securities or
property issuable upon exercise of the new Warrant.  The provisions of this
Section 2.2 shall similarly apply to successive reclassifications, exchanges,
substitutions, or other events.

       2.3    ADJUSTMENTS FOR COMBINATIONS, ETC.  If the outstanding Shares are
combined or consolidated, by reclassification or otherwise, into a lesser number
of shares, the Warrant Price shall be proportionately increased and the number
of Shares issuable upon exercise of this Warrant shall be proportionately
decreased.

       2.4    NO IMPAIRMENT.  The Company shall not, by amendment of its
Articles of Incorporation or through a reorganization, transfer of assets,
consolidation, merger, dissolution, issue, or sale of securities or any other
voluntary action, avoid or seek to avoid the observance or performance of any of
the terms to be observed or performed under this Warrant by the Company, but
shall at all times in good faith assist in carrying out of all the provisions of
this Article 2 and in taking all such action as may be necessary or appropriate
to protect Holder's rights under this Article against impairment.  If the
Company takes any action affecting the Shares or its common stock other than as
described above that adversely affects Holder's rights under this Warrant, the
Warrant Price shall be adjusted downward and the number of Shares issuable upon
exercise of this Warrant shall be adjusted upward in such a manner that the
aggregate Warrant Price of this Warrant is unchanged.

       2.5    FRACTIONAL SHARES.  No fractional Shares shall be issuable upon
exercise or conversion of the Warrant and the number of Shares to be issued
shall be rounded down to the nearest whole Share.  If a fractional share
interest arises upon any exercise or conversion of the Warrant, the Company
shall eliminate such fractional share interest by paying the Holder an amount
computed by multiplying the fractional interest by the fair market value of a
full Share.

       2.6    CERTIFICATE AS TO ADJUSTMENTS.  Upon each adjustment of the
Warrant Price, the Company at its expense shall promptly compute such
adjustment, and furnish Holder with a certificate of an officer of the Company
setting forth such adjustment and the facts upon which


                                       3
<PAGE>

such adjustment is based. The Company shall, upon written request, furnish
Holder a certificate setting forth the Warrant Price in effect upon the date
thereof and the series of adjustments leading to such Warrant Price.

ARTICLE 3.  REPRESENTATIONS AND COVENANTS OF THE COMPANY.

       3.1    REPRESENTATIONS AND WARRANTIES.  The Company hereby represents and
warrants to the Holder that all Shares which may be issued upon the exercise of
the purchase right represented by this Warrant, and all securities, if any,
issuable upon conversion of the Shares, shall, upon issuance in accordance with
the terms of this Warrant, be duly authorized, validly issued, fully paid and
nonassessable, and free of any liens and encumbrances except for restrictions on
transfer provided for herein or under applicable federal and state securities
laws.

       3.2    NOTICE OF CERTAIN EVENTS.  If the Company proposes at any time (a)
to declare any dividend or distribution upon its common stock, whether in cash,
property, stock, or other securities and whether or not a regular cash dividend;
(b) to offer for subscription pro rata to the holders of any class or series of
its stock any additional shares of stock of any class or series or other rights;
(c) to effect any reclassification or recapitalization of common stock; or (d)
to merge or consolidate with or into any other corporation, or sell, lease,
license, or convey all or substantially all of its assets, or to liquidate,
dissolve or wind up, then, in connection with each such event, the Company shall
give Holder (1) at least 20 days prior written notice of the date on which a
record will be taken for such dividend, distribution, or subscription rights
(and specifying the date on which the holders of common stock will be entitled
thereto) or for determining rights to vote, if any, in respect of the matters
referred to in (c) and (d) above; and (2) in the case of the matters referred to
in (c) and (d) above at least 20 days prior written notice of the date when the
same will take place (and specifying the date on which the holders of common
stock will be entitled to exchange their common stock for securities or other
property deliverable upon the occurrence of such event).

       3.3    REGISTRATION RIGHTS.  The Company agrees that the shares or, if
the shares are convertible into Common Stock of the Company, such Common Stock
shall be subject to the registration rights set forth on EXHIBIT A.

       3.4    "MARKET STANDOFF" AGREEMENT.  Holder agrees that, during the
period of duration (not to exceed one hundred eighty (180) days) specified by
the Company and an underwriter of Common Stock or other securities of the
Company, following the effective date of a registration statement of the Company
filed for a Registration, it shall not, to the extent requested by the Company
and such underwriter, directly or indirectly sell, offer to sell, contract to
sell (including, without limitation, any short sale), grant any option to
purchase or otherwise transfer or dispose of (other than to donees who agree to
be similarly bound) this Warrant or any of the Shares acquirable or acquired
upon the exercise hereof except Shares included in such Registration.  In order
to enforce the foregoing covenant, the Company may impose stop-transfer
instructions with respect to this Warrant and the Shares acquirable or acquired
upon the exercise hereof (and the shares or securities of every other person
subject to the foregoing restriction) until the end of such period.  This
covenant shall survive the termination of this Warrant.


                                       4
<PAGE>

ARTICLE 4.  MISCELLANEOUS.

       4.1    TERM.  This Warrant is exercisable, in whole or in part, at any
time and from time to time on or before the Expiration Date set forth above;
provided, however, that any partial exercise of this Warrant shall be for a
minimum of twenty-five thousand (25,000) Shares, unless fewer than twenty-five
thousand Shares remain subject to this Warrant, in which case any subsequent
exercise shall be for the remaining number of Shares.

       4.2    LEGENDS.  This Warrant and the Shares (and the securities
issuable, directly or indirectly, upon conversion of the Shares, if any) shall
be imprinted with a legend in substantially the following form:

              THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
              1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE
              TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH
              ACT OR PURSUANT TO RULE 144 OR AN OPINION OF COUNSEL REASONABLY
              SATISFACTORY TO THE CORPORATION AND ITS COUNSEL THAT SUCH
              REGISTRATION IS NOT REQUIRED.

       4.3    COMPLIANCE WITH SECURITIES LAWS ON TRANSFER.  This Warrant and the
Shares issuable upon exercise of this Warrant (and the securities issuable,
directly or indirectly, upon conversion of the Shares, if any) may not be
transferred or assigned in whole or in part without compliance with applicable
federal and state securities laws by the transferor and the transferee
(including, without limitation, the delivery of investment representation
letters and legal opinions reasonably satisfactory to the Company, as reasonably
requested by the Company).  The Company shall not require Holder to provide an
opinion of counsel if the transfer is to an affiliate of Holder without
consideration or if there is no material question as to the availability of
current information as referenced in Rule 144(c), Holder represents that it has
complied with Rule 144(d) and (e) in reasonable detail, the selling broker
represents that it has complied with Rule 144(f), and the Company is provided
with a copy of Holder's notice of proposed sale in compliance with Rule 144(h).

       4.4    TRANSFER PROCEDURE.  This Warrant and all rights hereunder may not
be transferred by the Holder, except to one or more subsidiaries, affiliates or
successors to all the business of the Holder, or to the underwriters in
connection with a public offering of equity securities by the Company.  Subject
to the provisions of Section 4.3, Holder may transfer all or any of the Shares
issued upon exercise of this Warrant (or the securities issuable, directly or
indirectly, upon conversion of the Shares, if any) by giving the Company notice
of the Shares being transferred, setting forth the name, address and taxpayer
identification number of transferees and surrendering the certificate(s) for the
Shares being transferred to the Company for reissuance to the transferee(s) (and
Holder if applicable).

       4.5    NO RIGHTS AS STOCKHOLDERS.  Except as provided herein, this
Warrant does not entitle the Holder to any voting rights as a stockholder of the
Company prior to the exercise of this Warrant.


                                       5
<PAGE>

       4.6    NOTICES.  All notices and other communications from the Company to
the Holder, or vice versa, shall be deemed delivered and effective when given
personally or mailed by first-class registered or certified mail, postage
prepaid, at such address as may have been furnished to the Company or the
Holder, as the case may be, in writing by the Company or such holder from time
to time.

       4.7    WAIVER.  This Warrant and any term hereof may be changed, waived,
discharged or terminated only by an instrument in writing signed by the party
against which enforcement of such change, waiver, discharge or termination is
sought.

       4.8    ATTORNEYS FEES.  In the event of any dispute between the parties
concerning the terms and provisions of this Warrant, the party prevailing in
such dispute shall be entitled to collect from the other party all costs
incurred in such dispute, including reasonable attorneys' fees.

       4.9    GOVERNMENTAL LAW.  This Warrant shall be governed by and construed
in accordance with the laws of the State of California, without giving effect to
its principles regarding conflicts of law.

                                       COMPANY

                                       CollegeClub.com


                                       By:   /s/ Eric D. Rindahl
                                             ----------------------------------
                                             Eric D. Rindahl, Chief Financial
                                             Officer


                                       6
<PAGE>

                                    EXHIBIT A

       The Shares or the common stock issuable upon conversion of the Shares,
shall be entitled to "piggy back" registration rights in accordance with the
terms of the following agreement (the "Agreement") between the Company and its
investor(s):

       CollegeClub.com Investor Rights Agreement, dated as of June 7, 1999.

       The Company agrees that no amendments will be made to the Agreement which
would have an adverse impact on Holder's registration rights thereunder without
the consent of Holder.  By acceptance of the Warrant to which this Exhibit A is
attached, Holder shall be deemed to be a party to the Agreement with respect to
Section 1.3 thereof, unless Holder otherwise elects not to become or to cease
being a party thereto.


<PAGE>

                                   APPENDIX 1

                               NOTICE OF EXERCISE

       1.     The undersigned hereby elects to purchase ________ shares of the
Series B Preferred Stock of CollegeClub.com pursuant to the terms of the
attached Warrant, and tenders herewith payment of the purchase price of such
shares in full.

       2.     The undersigned hereby elects to convert the attached Warrant
into Shares in the manner specified in the Warrant.  This conversion is
exercised with respect to ______________ of the Shares covered by the Warrant.

       3.     Please issue a certificate or certificates representing said
shares in the name of the undersigned or in such other name as is specified
below:

                                -------------------------------
                                             (Name)

                                -------------------------------

                                -------------------------------

                                -------------------------------
                                             (Address)


       4.      The undersigned represents it is acquiring the shares solely for
its own account and not as a nominee for any other party and not with a view
toward the resale or distribution thereof except in compliance with applicable
securities laws.


                                -------------------------------
                                             (Signature)

-------------------------------
(Date)