FORM 8-K


                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                 CURRENT REPORT

                Pursuant to Section 13 or 15(d) of the Securities
                              Exchange Act of 1934


                                September 9, 1998
                                 Date of Report



                                AJAY SPORTS, INC.
             (Exact Name of Registrant as specified in its charter)


             Delaware             0-18204             39-1644025
          ----------------       ------------     -------------------
          (State or other       (Commission       (I.R.S. Employer
           jurisdiction of      file number)      Identification Number)
           incorporation or
           organization)


         1501 E. Wisconsin Street
         Delavan, WI                                       53115
         ----------------------------------------       -----------
         (Address of Principal Executive Offices)        (Zip Code)


       Registrant's telephone number, including area code: (414) 728-5521


                                       N/A
           ---------------------------------------------------------
           Former name or former address, if changed from last report
<PAGE>

 ITEM 5:  Other Events

On Friday,  September 4, 1998, after the stock market closed,  Ajay Sports, Inc.
(the "Registrant") was notified by the Nasdaq Stock Market that the Registrant's
common stock no longer met the $1.00 minimum bid price for continued  listing on
the Nasdaq SmallCap Market. The common stock is now eligible to trade on the OTC
Bulletin Board. The Registrant's Series C Preferred Stock will continue to trade
on the SmallCap Market under the symbol AJAYP.

New NASDAQ listing maintenance  standards became effective February 23, 1998. In
an effort to comply with the new standards  for minimum net tangible  assets and
minimum bid price,  the Registrant had taken numerous steps in an effort to gain
compliance.   These  steps  included  written  and  verbal  appeals  to  Nasdaq,
restructuring  the  Registrant's  bank loans and other debt, and  implementing a
reverse stock split, which took effect August 14, 1998, in an effort to maintain
a minimum $1.00 price for its stock.

The Registrant  currently  intends file an appeal with Nasdaq to attempt to have
its common stock  reinstated as eligible to trade on the Nasdaq SmallCap Market,
but there is no assurance that it will be successful.

The Registrant's common stock will trade through Friday, September 11 on the OTC
Bulletin  Board under the symbol  AJAYD.  Beginning  Monday,  September  14, the
Registrant's  common stock will trade on the OTC Bulletin Board under the symbol
AJAY.




<PAGE>



                                   SIGNATURES

 Pursuant  to the  requirements  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.


 Date: September 9, 1998

                                AJAY SPORTS, INC.



                               By s\Robert R. Hebard
                                  -----------------------------
                                   Robert R. Hebard, Secretary