<PAGE>
                                                                   EXHIBIT 10.25



                             SUBSCRIPTION AGREEMENT


        THIS SUBSCRIPTION AGREEMENT, dated as of the ___ day of June 2002 (this
"Agreement"), is by and between Green Equity Investors, L.P., a Delaware
limited partnership ("Investor"), and Big 5 Sporting Goods Corporation, a
Delaware corporation (the "Company").

                               W I T N E S S E T H

        WHEREAS, the Company is about to complete the initial public offering of
shares of its Common Stock, par value $0.01 per share, of the Company ("Common
Stock"), which shares are being registered by the Company under the Securities
Act of 1933, as amended, pursuant to a Registration Statement on Form S-1
previously filed with the Securities and Exchange Commission (the "Form S-1");
and

        WHEREAS, the Company wishes to issue and sell to Investor, and Investor
wishes to purchase from the Company, the Shares (as defined below), on the terms
and subject to the conditions set forth in this Agreement.

        NOW, THEREFORE, in consideration of the foregoing, and for other good
and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties agree as follows:

1.      Subscription for and Purchase of the Shares.

        1.1.   Subscription for Shares. Investor hereby irrevocably subscribes
               for, and agrees to purchase from the Company at the Closing,
               _____ shares of Common Stock being registered by the Company
               under the Securities Act on Form S-1 (the "Shares") at a price
               per share of $______ (the "Purchase Price").

        1.2.   Closing Date; Deliveries. The purchase and sale of the Shares
               shall take place on the first business day immediately following
               the closing date of the Company's initial public offering of its
               Common Stock and shall be held at the offices of Irell & Manella
               LLP, 1800 Avenue of the Stars, Suite 900, Los Angeles, California
               90067, at 2:00 p.m. (Los Angeles time), or at such other place
               and time which the Company and Investor mutually agree. At the
               Closing, the Company shall deliver to Investor a stock
               certificate, registered in Investor's name, representing the
               number of Shares being purchased by Investor hereunder, against
               payment therefor of the aggregate Purchase Price by wire transfer
               in immediately available funds in accordance with the Company's
               instructions.

2.      Representations and Warranties of the Company. The Company hereby
        represents and warrants to Investor that (a) this Agreement is a valid,
        legal and binding obligation of the Company, enforceable against it in
        accordance with its terms, except to the extent that such enforceability
        may be limited by applicable bankruptcy, insolvency or similar laws
        affecting the enforcement of creditors' rights



                                     - 1 -
<PAGE>

        generally and subject to general principles of equity (regardless of
        whether such enforcement is considered in a proceeding at law or at
        equity) and (b) the Shares to be issued to Investor at the Closing under
        this Agreement, when issued, sold and delivered in accordance with the
        terms of this Agreement, will be duly authorized, validly issued, fully
        paid and non-assessable.

3.      Representations and Warranties of Investor. Investor hereby represents
        and warrants to the Company that this Agreement is a valid, legal and
        binding obligation of Investor, enforceable against it in accordance
        with its terms, except to the extent that enforceability may be limited
        by applicable bankruptcy, insolvency or similar laws affecting the
        enforcement of creditors' rights generally and subject to general
        principles of equity (regardless of whether such enforcement is
        considered in a proceeding at law or at equity).

4.      Miscellaneous Provisions.

        4.1.   Governing Law. This Agreement is governed by, and shall be
               construed and enforced in accordance with the laws of the State
               of Delaware, excluding any conflict of laws or choice of law
               principles.

        4.2.   Interpretation; Counterparts. The headings contained in this
               Agreement are for reference purposes only and do not define or
               limit the provisions hereof. Section, party and recital
               references are to this Agreement unless otherwise stated. This
               Agreement may be executed in one or more counterparts and by
               facsimile transmission, each of which shall be deemed an original
               and all of which shall constitute one and the same document.

        4.3.   Entire Agreement. This Agreement constitutes the parties' entire
               agreement with respect to the subject matter hereof and
               supersedes all prior oral or written, and all contemporaneous
               oral, agreements, representations, warranties, statements,
               promises and understandings with respect to the subject matter
               hereof.

        4.4.   Further Assurances. Each party agrees to take such actions and
               execute and deliver such documents as the other party may
               reasonably request to carry out the intent and purposes of this
               Agreement.



                                     - 2 -
<PAGE>

        IN WITNESS WHEREOF, the parties have hereby executed this Agreement as
of the date first set forth above.


                                        COMPANY

                                        BIG 5 SPORTING GOODS CORPORATION,
                                        a Delaware corporation


                                        By:
                                           -------------------------------------
                                        Name:
                                        Title:



                                        INVESTOR

                                        GREEN EQUITY INVESTORS, L.P.
                                        a Delaware limited partnership

                                        By: Leonard Green & Associates, L.P.
                                            General Partner


                                            By:
                                                --------------------------------
                                                General Partner




                                     - 3 -