U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, DC 20549

                                 FORM 10-QSB


(Mark One)

[X]     Quarterly report under Section 13 or 15(d) of the Securities Exchange
        Act of 1934

                For the quarterly period ended March 31, 1997.

[ ]     Transition report under Section 13 or 15(d) of the Exchange Act

        For the transition period from _______________ to _______________


                      Commission file number:  000-21585          


                    Worldwide Entertainment & Sports Corp.
      (Exact Name of Small Business Issuer as Specified in Its Charter)

            Delaware                                   22-3393152
(State or Other Jurisdiction of                     (I.R.S. Employer
 Incorporation or Organization)                   Identification No.)


             29 Northfield Avenue, West Orange, New Jersey 07052
                   (Address of Principal Executive Offices) 

                                (201) 325-3244
                (Issuer's Telephone Number, Including Area Code)


              (Former Name, Former Address and Former Fiscal Year,
                          if Changed Since Last Report)

   Check whether the issuer: (1) filed all reports required to be filed by
   Section 13 or 15(d) of the Exchange Act during the past 12 months (or for
   such shorter period that the registrant was required to file such reports),
   and (2) has been subject to such filing requirements for the past 90 days.
   
   Yes __X____ No  ______     


                    APPLICABLE ONLY TO ISSUERS INVOLVED IN
                     BANKRUPTCY PROCEEDINGS DURING THE
                            PRECEDING FIVE YEARS


   Check whether the registrant filed all documents and reports required to
   be filed by Section 12, 13 or 15(d) of the Exchange Act after the
   distribution of securities under a plan confirmed by a court.
   
   Yes ______  No ______


                    APPLICABLE ONLY TO CORPORATE ISSUERS
                                
  State the number of shares outstanding of each of the issuer's classes of
  common equity, as of the latest practicable date:
  
                Common Stock, $.01par value - 5,153,255 shares     

  Transitional Small Business Disclosure Format (check one): Yes ___  No ___



<PAGE>


PART I.

Item 1. Financial Statements


                    WORLDWIDE ENTERTAINMENT & SPORTS CORP.
                    CONDENSED CONSOLIDATED BALANCE SHEETS


                                   ASSETS

                                                                 
                                          March 31, 1997          December 31,
                                            (Unaudited)               1996
                                          --------------          ------------
CURRENT ASSETS

 Cash and certificates of deposit             $    371,628         $ 1,091,505
 Marketable securities (at fair
   market value)                                 2,571,401           3,098,760
 Accounts receivable, net of allowance
   for doubtful accounts of $600                    38,163              12,396
 Prepaid consulting fees                            40,000              40,000
 Due from boxes and other related parties,    
   net of reserve of $172,989 and $38,853          134,988              92,458
 Deposit                                                 -              43,150
 Other current assets                               34,569              12,275
                                               -----------         -----------
          Total Current Assets                 $ 3,190,749         $ 4,390,544


PROPERTY AND EQUIPMENT-AT COST, net
   of accumulated depreciation                      24,055              56,195


OTHER ASSETS
 Due from related party, net of reserve of
    $30,710                                              -              30,711
 Cash surrender value of life insurance              4,861               4,861
 Deferred consulting expense                       140,000             150,000
 Other Assets                                       20,950              20,950
                                               -----------         -----------
                                                   165,811             206,522
                                               -----------         -----------
          Total Assets                         $ 3,380,615         $ 4,653,261




       See notes to Unaudited Condensed Consolidated Financial Statements.



<PAGE>



                   WORLDWIDE ENTERTAINMENT & SPORTS CORP.
                   CONDENSED CONSOLIDATED BALANCE SHEETS


                                 LIABILITIES
     

                                     March 31, 1997 
                                      (Unaudited)          December 31, 1996
                                     --------------        -----------------
CURRENT LIABILITIES:     
     
   Current portion of long-term
      debt                            $          -         $     25,515
   Accrued expenses                        153,845              245,539
   Compensation and related items           39,522              227,585
   Escrow funds payable                    149,156              149,156
   Advance on letter of credit                   -               70,000
   Due to Officer                           68,826              168,826
   Deferred income                               -               14,536
   Income taxes payable                        450                  450
                                           -------              -------
     Total Current Liabilities             411,799              901,607


STOCKHOLDERS' EQUITY

   Common stock, $.01 par value,
     authorized 20,000,000shares;
     5,153,255 shares issued                51,533               51,533
   Additional paid-in capital            6,764,061            6,763,651
   Accumulated deficit                  (3,834,428)          (3,060,307)
   Demand note receivable on private    
      issuance of Common Stock             (12,350)             (12,350)
   Unrealized gain on securities
      available for sale                         -                9,217
                                         ---------            ---------
                                         2,968,816            3,751,654
                                         ---------            ---------
     Total Liabilities and
     Stockholders' Equity             $  3,380,615         $  4,653,261
                                         =========            =========



     See notes to Unaudited Condensed Consolidated Financial Statements.



<PAGE>

                                  
                   WORLDWIDE ENTERTAINMENT & SPORTS CORP.
              CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
                Three Months Ended March 31, 1997 and 1996
                                 (Unaudited)


                                            1997                    1996
                                        ------------            ------------

Purse income                            $     21,750            $     25,988
Commission income                                                     10,797
Endorsement income                            15,000
Ticket revenues                                                       11,995
Agency fees                                   25,825                       -
Merchandise revenues                                                   1,008
                                           ---------               ---------
              Total Revenues                  62,575                  49,788
                                           ---------               ---------  
Training and related expenses                 29,051                  39,727
Promotion and other operating expenses       780,640                 350,160
                                           ---------               ---------
                                             809,691                 389,887
                                           ---------               ---------
              Loss from Operations          (747,116)               (340,099)


Other income and expenses:     
  Interest and dividend income                33,355                     438
  Interest expense                                 -                ( 32,245)
  Other                                      ( 6,279)                      -
                                           ---------               ---------
                                              27,076                ( 31,807)
                                           ---------               ---------
Loss before income taxes                    (720,040)               (371,906)
Income taxes                                   4,320                     100
                                           ---------               ---------
              Net Loss                  $   (724,360)           $   (372,006)
                                           ---------               ---------
Loss per share                          $       (.14)           $       (.10)
                                           ---------               ---------
Weighted average common shares
  outstanding                              5,153,255               3,719,921
                                           ---------               ---------
    

      See notes to Unaudited Condensed Consolidated Financial Statements.


<PAGE>

                  WORLDWIDE ENTERTAINMENT & SPORTS CORP.
             CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
            For the Three Months Ended March 31, 1997 and 1996
                                 (Unaudited)
     
                                                    1997            1996
                                                -----------      -----------
Cash Flows from Operating Activities            $ (194,018)      $ (822,583)
     
Cash Flows from Investing Activities              (527,359)         (34,551)
     
Cash Flows from Financing Activities                 1,500          352,302
                                                 ---------         --------
Net Increase (Decrease) in Cash                   (719,877)        (504,832)
     
Cash and Certificates of Deposit at             
   Beginning of Period                           1,091,505          547,136
                                                 ---------         --------
Cash and Certificates of Deposit at
   End of Period                                $  371,628       $   42,304
                                                 =========         ========

Supplemental Disclosures of Cash Flow Information:

   Cash Paid During the Year for:
        Income Taxes                            $    4,320       $      100
                                                 =========         ========
        Interest                                $        -       $    2,552
                                                 =========         ========


    See notes to Unaudited Condensed Consolidated Financial Statements.



<PAGE>

           WORLDWIDE ENTERTAINMENT & SPORTS CORP. AND SUBSIDIARIES
             NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
            

NOTE A      -  NATURE OF ORGANIZATION AND BASIS OF PRESENTATION:

1. Nature of Organization:

Worldwide Entertainment & Sports Corp. (the "Company") was incorporated in
Delaware on August 15, 1995, for the purpose of providing management, agency,
and marketing services to professional athletes, artists and entertainers,
principally to boxers, football and basketball players.

2. Basis of Presentation:

The Condensed Financial Statements included herein have been prepared by the
Company, without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission.  Certain information and footnote
disclosures normally included in financial statements prepared in accordance
with generally accepted accounting principles have been condensed or omitted
pursuant to such rules and regulations.

The Condensed Financial Statements included herein reflect, in the opinion of
management, all adjustments (consisting primarily only of normal recurring
adjustments) necessary to present fairly the results for the interim periods.
The results of operations for the three months ended March 31, 1997, are not
necessarily indicative of results to be expected for the entire year ending
December 31, 1997.


NOTE B      -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
               
1. The condensed consolidated financial statements include the accounts of
the company and all of its subsidiaries, all of which are wholly-owned,
except for Worldwide Basketball Management, Inc., which company is 80% owned.

2. Purse revenue is recognized upon completion of a fight, as a percentage of
the boxer's purse. Commission and endorsement income is recognized upon the
completion of the contracted event. Ticket revenues are recognized upon the
commencement of a scheduled fight.  Agency fee revenue is recognized ratably
over the various athletic seasons.

3. Net loss per share is computed by dividing net loss by the weighted
average number of shares of Common Stock outstanding during the period.
Common Stock equivalents have not been included in this computation since the
effect would be anti-dilutive.



<PAGE>


            WORLDWIDE ENTERTAINMENT & SPORTS CORP. AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


NOTE C:   SALE OF COMMON STOCK

On October 22, 1996, the Company sold 1,400,000 Units, each comprising one
share of its common stock, $.01 par value ("Common Stock"), and one
redeemable common stock purchase warrant ("Redeemable Warrants")in an initial
public offering. Each Redeemable Warrant entitles the holder to purchase one
share of Common Stock at $7.20 commencing  October 22, 1997 until October 21,
2001. The proceeds from this transaction (approximately $ 7.5 million) were
used, in part, to repay outstanding indebtedness of approximately $2,150,000
and costs and expenses of the offering. The remainder for future operating
purposes, has been invested in short-term securities.



<PAGE>


Item 2.   Management's Discussion and Analysis of Financial Condition
          and Results of Operations


Results of Operations

General

Worldwide Entertainment & Sports Corp. was organized in August 1995, and since
such date has succeeded to the business operations of various entities
engaged in the management of professional boxers, each previously controlled
by the Company's Chief Executive Officer.  In addition, in January 1996, the
Company formed Worldwide Team Sports, Inc. ("WWTS") and hired a registered
NFL contract advisor.  In August 1996, for the purpose of providing agency,
marketing and management services to professional basketball players, the
Company formed Worldwide Basketball Management, Inc. ("WWBM"), a corporation
80% owned by the Company and 20% owned by WWBM's President and Executive Vice
President, respectively. In March 1997, the Company established Worldwide
Sports Promotions, Inc. for the purpose of promoting sporting events.  This
subsidiary has had limited operations to date.  Through WWBM and WWTS, the
Company has expanded into the field of player agency and contract advisory
services.  The Company has only limited experience in the negotiation of
player contracts, and consequently may seek to hire additional contract
advisors or to retain the services of other registered contract advisors on
an independent contractor or consultancy basis and share a portion of fees
generated therefrom with such persons.   To date,  the Company has generated
limited revenues from contract advisory services to professional football
and basketball players.

Establishing and maintaining a presence in each of the Company's areas of
concentration, (i.e., boxing management and team sports player agency)
require significant expenditures.  Each sports specific division must develop
a roster of clients, establish relationships within their prospective sports
and develop support services to provide to the athletes.  Only a portion of
such expenses incurred by the Company will result in the engagement by a
client of the Company's services, and it is often uncertain the extent to
which, even if retained, a target client will generate significant revenues
to the Company.   In addition, the Company incurs significant training
expenses for the boxers under the Company's management, not all of which are
directly reimbursed pursuant to bout agreements for such boxers.  In the
development of a boxer, particularly a young amateur boxer, into a
professional boxer who can command significant purses, such expenses can be
incurred over a period of years and constitute hundreds of thousands of
dollars or more.  The Company must continuously incur such expenses in
contemplation of future revenues, the receipt of which is uncertain.

The Company's revenues are directly related to the earnings of its clients.
The Company derives revenues based upon a percentage, currently ranging from
15% to 27-1/2%, of the boxers' purses from professional bouts.  The Company
also derives revenues based upon a percentage of salaries and other income
received from contracts, endorsement arrangements and other income producing
activities of athletes for whom the Company or its management acts as agent
or representative.  These percentages currently range from 4% for
professional basketball and football player contracts (although occasionally
lower percentages are agreed upon) to 10% or 20% for endorsement and
marketing revenues.

The timing of receipt of revenues by the Company is subject to seasonal
variations with respect to revenues generated from the negotiation of player
contracts and subject to irregular patterns in the



<PAGE>

case of boxing purse revenues as a result of the irregular occurrence of the
bouts.  In addition, the magnitude of the Company's revenues can be expected
to experience wide fluctuations based upon the success or failure of the
Company's boxers or the negotiation of player contracts with significant
bonus provisions.  The Company's WWTS and WWBM subsidiaries can be expected
to incur significant expenditures during the first eight months of each
calendar year (particularly March through July) for recruitment and related
expenses, and to receive their revenues during the last four and first three
months of the year during the NFL and NBA seasons.  If the Company were to
expand into the representation of baseball players (or other professional
athletes with a spring/summer season), of which there can be no assurance,
the effects of such seasonality would be diminished.


    Three months ended March 31, 1997 Compared with Three months ended
    March 31, 1996

Net revenues for the three months ended March 31, 1997 were $62,575, as
compared to $49,788 for the three months ended March 31, 1996.  Purse income
decreased to $21,750 for the 1997 period, as compared to $25,988  for 1996
period.  The decrease is a result of a decrease in the aggregate sizes of
the purses.  In addition, during the quarter ended March 31, 1997, the
Company recognized endorsement and agency fee income from representation of
team sports athletes, aggregating $40,828. No such revenues were received by
the Company during the comparable period in 1996.  During the three months
ended March 31, 1996, the Company purchased tickets to bouts and then resold
the tickets to aid in the distribution of tickets. Such practice was not for
the purpose of generating gain on the sale of the tickets, and such practice
was suspended in the third quarter of 1996. Accordingly, ticket revenues for
the three months ended March 31, 1996  were $11,995.  Such revenues are
largely offset by a corresponding expense for ticket costs.  Therefore, this
change does not result in a significant impact on the Company's  net income
or loss.

Total expenses increased for the three months ended March 31, 1997 to $809,691
from $389,887 for the three months ended March 31, 1996.  Promotion and other
operating expenses increased to $780,640 for the 1997 period as compared to
$350,160 for the corresponding 1996 period as a result of (i) $67,034 of
travel and entertainment expenses and telephone expenses in excess of 1996
comparable amounts,  incurred in connection with the recruitment of
professional athletes and agents and in connection with bouts for the
Company's four boxers, and (ii) $198,254 in payroll expenses over the
comparable 1996 period as a result of the hiring of professional NFL agents,
the compensation of the Chief Executive and Chief Financial Officers (not
paid prior to January 1, 1996) and additional staff personnel, and (iii)
additional professional and consulting fees of $50,000 due to the public
status of the Company  in 1997.  In addition, there were approximately
$46,000 of expenses for promotional materials and other public relations
expenses for 1997 in excess of  the same 1996 period.  The three month period
ended March 31, 1996 also included $32,245 of interest expense attributable
to the 10% promissory notes issued in connection with the Company's private
placement which originated in September 1995.  Such debt was repaid through
the proceeds of the public offering in October 1996.  Accordingly, the
Company's net loss for the three months ended March 31, 1997 increased to
$724,360 from $372,006 for the corresponding 1996 period.



<PAGE>

Liquidity and Capital Resources

Historically, the Company's principal source of operating capital has been
provided by loans and capital contributions from the Company's stockholders
as well as private sales of the Company's debt  securities.  On October 22,
1996, the Company sold 1,400,000 Units , each comprising one share of common
stock and one redeemable common stock purchase warrant, in an initial public
offering.  Net proceeds to the Company was approximately $7.5 million.  The
proceeds were used to repay approximately $2,150,000 of debt and $550,000 of
costs associated with the offering. At March 31, 1997, the Company had
approximately $2,779,000 of working capital, of which $2,943,029 was cash
and short-term investments.

The Company may relocate its boxing facility.  It is anticipated that the
Company would incur expenditures of $150,000 in connection therewith.
Management salaries (aggregating approximately $650,000 per annum) and
anticipated training expenses (estimated at approximately $475,000, depending
upon the number of bouts) represent the expected significant uses of working
capital during the next twelve months, as well as recruitment expenses
(estimated to approximate $650,000, subject to variations depending upon
player availability and recruiting success) and rent (approximately $108,000
per annum).  Prior to January 1, 1996, no officer of the Company was paid a
salary nor were there any salaries accrued therefor.

Although the Company believes that the proceeds of its October 1996 initial
public offering will be sufficient to fund its operations over the next twelve
months or longer, there can be no assurance that the Company will have
sufficient revenues after such time to fund its operating requirements.
Accordingly, the Company may be required to seek additional financing through
bank borrowings, debt or equity financings or otherwise.  There can be no
assurance that any such financing will be available to the Company on
favorable terms, if at all.



<PAGE>

PART II.


Item 1.         Legal Proceedings.

                None.


Item 2.         Changes in Securities

                (a) None

                (b) None

                (c) None


Item 3.         Defaults Upon Senior Securities

                None


Item 4.         Submission of Matters to a Vote of Security Holders

                None


Item 5.         Other Information

                None


Item 6.         Exhibits and Reports on Form 8-K

                None



<PAGE>


                                  SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.



                                   Worldwide Entertainment & Sports Corp.
                                   (Registrant)

                                   /s/Marc Roberts
Date       May 14, 1997            --------------------------------------      
                                   Marc Roberts, President


                                   /s/Roy Roberts
Date       May 14, 1997            --------------------------------------    
                                   Roy Roberts, Chief Financial Officer