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                                                                   EXHIBIT 10(H)

                              SEVENTH AMENDMENT TO
                        FINANCING AND SECURITY AGREEMENT

         THIS SEVENTH AMENDMENT TO FINANCING AND SECURITY AGREEMENT, dated as of
July 30, 1999, is by and among FIRST UNION COMMERCIAL CORPORATION ("Lender"),
ELLETT BROTHERS, INC. ("Ellett"), LEISURE SPORTS MARKETING, INC. ("Leisure"),
EVANS SPORTS, INC., ("Evans"), SAFESPORT MANUFACTURING COMPANY ("Safesport"),
and VINTAGE EDITIONS, INC. ("Vintage") (hereinafter Ellett, Leisure, Evans,
Safesport and Vintage may be referred to collectively as the "Borrower").

RECITAL

A.       The Lender and the Borrower have entered into that certain Financing
and Security Agreement, dated June 10, 1994, as amended (the "Financing
Agreement").

B.       The Borrower and the Lender have agreed to amend the Financing
Agreement as set forth herein.

NOW, THEREFORE, the parties hereto agree as follows:

         1.       Section 2.A. is amended in its entirety so that such Section
now reads as follows:

         2.A.     "Applicable Margin" means for any calendar quarter, the
following margins for the following Loans based upon the Leverage Ratio of
Borrower as of the last day of the prior calendar quarter and the net income of
Borrower for the four fiscal quarterly periods ending as of the last day of the
prior calendar quarter:

<TABLE>
<CAPTION>
                                                Applicable        Applicable
                              Applicable        Margins for       Margins for
                              Margins for       Loans Based       Loans Based
                              Loans Based       on One Month      on Three Month
                              the Prime Rate    LIBOR Rate        LIBOR Rate
<S>                           <C>               <C>               <C>

Category 1
----------

Net income is equal to
or less than $2,000,000.00
or the Leverage Ratio is
equal to or greater than
3.0 to 1.0                        .375%             2.25%        2.25%
</TABLE>



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<TABLE>
<S>                                          <C>      <C>      <C>

Category 2
----------

Net income is greater than
$2,000,000.00 but equal to or less than
$3,000,000.00 and the Leverage Ratio is
less than. 3.0 to 1.0 but
greater than or equal to
2.25 to a.0                                  .125%    2.0%     2.0%

Category 3
----------

Net income is greater than
$3,000,000.00 but equal to or less than
$3,500,000.00 and the Leverage Ratio is
less than 2.25 to 1.0 but
greater than or equal to
1.75 to 1.0                                  0.0%     1.75%    1.75%

Category 4
----------

Net income is greater than
$3,500,000.00 but equal to or less than
$4,000,00.00 and the Leverage Ratio is
less than 1.75 to 1.0 but
greater than or equal to
1.25 to 1.0                                  0.0%     1.50%    1.50%

Category 5
----------

Net income is greater than
$4,500,000.00 and the Leverage Ratio is
less than 1.25 to 1.0                        0.0%     1.25%    1.25%
</TABLE>

2.       This Seventh Amendment may be executed in any number of counterparts,
each of which when so executed and delivered shall be deemed an original, and it
shall not be necessary in making proof of this Seventh Amendment to produce or
account for more than one counterpart.

3.       THIS SEVENTH AMENDMENT AND THE OTHER DOCUMENTS AND AGREEMENTS EXECUTED
IN CONNECTION HEREWITH (UNLESS SPECIFICALLY STIPULATED TO THE CONTRARY IN SUCH
DOCUMENT OR AGREEMENT), AND THE RIGHTS AND OBLIGATIONS OF


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THE PARTIES HEREUNDER AND THEREUNDER, SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NORTH CAROLINA WITHOUT
REGARD TO CONFLICTS OF LAWS PRINCIPLES.

IN WITNESS WHEREOF, the parties hereto have caused this Seventh Amendment to be
executed by their duly authorized corporate officers as of the day and year
first above written.

                           ELLETT BROTHERS, INC.


                           By: /s/George S. Loney CFO
                              --------------------------------
                              (Title)

                           EVANS SPORTS, INC., a South
                           Carolina corporation

                           By: /s/George S. Loney CFO
                              --------------------------------
                              (Title)

                           LEISURE SPORTS MARKETING, INC., a
                           South Carolina corporation

                           By: /s/George S. Loney CFO
                              --------------------------------
                              (Title)

                           SAFESPORT MANUFACTURING COMPANY, a
                           South Carolina corporation

                           By: /s/George S. Loney CFO
                              --------------------------------
                              (Title)

                           VINTAGE EDITIONS, INC., a
                           South Carolina corporation

                           By: /s/George S. Loney CFO
                              --------------------------------
                              (Title)

                           FIRST UNION COMMERCIAL CORPORATION

                           By: /s/Bruce K. Rhodes, VP
                              -----------------------------
                              (Title)


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