SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

Mark One
               QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
           [X ]   THE SECURITIES EXCHANGE ACT OF 1934

                 For the quarterly period ended January 31, 2003
            --------------------------------------------------------

                                       OR

              TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
           [  ]   THE SECURITIES EXCHANGE ACT OF 1934

         For the transition period from               to
                                        -------------    ------------

         Commission file number         0-17263
                                -------------------------------------

                             CHAMPIONS SPORTS, INC.
                             ----------------------
             (Exact name of registrant as specified in its charter)


                       Delaware               52-1401755
                       ---------------------------------
                (State or other jurisdiction of (I.R.S. Employer
                        organization) Identification No.)

                2420 Wilson Blvd., Suite 214, Arlington VA 22201
                ------------------------------------------------
                    (Address of principal executive offices)
                                   (Zip code)

                                 (703) 526-0400
                                 --------------
              (Registrant's telephone number, including area code)

     Indicate  by check mark  whether the  Registrant  (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  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

     As of March 14,  2003 the  Registrant  had a total of  8,514,459  shares of
common stock outstanding.




                             CHAMPIONS SPORTS, Inc.

                                   FORM 10-QSB

                                      INDEX

                                                                          Page

Part I.           Financial Information

                  Item 1. Financial Statements

                  Consolidated Balance Sheets as of
                    January 31, 2003 (unaudited) and
                    April 30, 2002                                         3

                  Consolidated Statements of Operations:
                    Three months and nine months ended
                    January 31, 2003, and  January 31, 2002,
                          (unaudited)                                      4

                  Consolidated Statements of Cash Flows:
                    Nine months ended January 31, 2003, and
                    January 31,2002 (unaudited)                            5

                  Notes to Consolidated Financial Statements               6

                  Item 2. Management's Discussions and
                           Analysis of Financial Condition
                           and Results of Operations                       7

Part II.          Other Information and Signatures

                  Item 4. Submission of Matters to a Vote
                           of Security Holders                             9

                  Item 6. Exhibits and Reports on Form 8-K                 9

                  Signatures                                               10






<PAGE>






                           CHAMPIONS SPORTS, INC. AND SUBSIDIARIES
                                  Consolidated Balance Sheets
                                            Assets
<TABLE>
<CAPTION>


                                                              January 31, 2003 April 30, 2002
                                                              ---------------------------------
<S>                                                           <C>              <C>
Current assets
   Cash and cash equivalents                                   196,296         449,282
    Accounts receivable - trade                                     25              54
   Inventories                                                  24,137          25,555
   Prepaid expenses                                             16,123          14,035
                                                                ------          ------
Total current assets                                           236,581         488,926

Property and equipment
    Furniture and equipment                                    588,272         577,371
   Leasehold improvements                                      584,772         584,772
                                                               -------         -------
                                                             1,173,044       1,162,143
Accumulated depreciation and amortization                     (912,746)       (876,432)
                                                              --------        --------
                                                               260,298         285,711
Deposits                                                        11,052          11,052

 Total assets                                                  507,931         785,689
                                                               =======         =======


                             Liabilities and Stockholders' Equity

Current liabilities
   Accounts payable                                            34,971          88,104
   Dividend payable on preferred stock                        575,193         511,442
   Other accrued expenses                                      34,481          52,790
   Deferred revenue                                                 -         124,871
    Current portion of deferred lease concession                4,363           4,363
    Current portion of capital lease obligation                     -           1,929
                                                                 ----           -----
     Total current liabilities                                649,008         783,499


Capital lease obligation, net of current portion                    -               -
Deferred lease concession, net of current portion               3,925           7,195
                                                                -----           -----
     Total liabilities                                        652,933         790,694


 Stockholders' equity
   Preferred stock
     Series A, 12% Convertible Cumulative;
         $10 par value; preferred as to
         dividends and liquidation; 56,075 shares
         authorized and 53,125 shares issued and
         outstanding for January 31, 2003
         and April 30, 2002                                   531,252         531,252

  Common stock, par value $.001 per share,
         50,000,000 shares authorized and
         8,514,459 shares issued and
         outstanding for January 31, 2003
         and April 30, 2002                                     8,514           8,514
    Additional paid-in capital                              5,397,598       5,392,599
    Accumulated deficit                                    (6,082,366)     (5,937,370)
                                                            ----------      ----------
    Total stockholders' equity                               (145,002)        (5,005)
    Total liabilities and stockholders' equity                507,931        876,235
                                                              =======        =======


 See notes to consolidated financial statements

</TABLE>


<PAGE>


<TABLE>
<CAPTION>



                                     CHAMPIONS SPORTS, INC. AND SUBSIDIARIES
                                      Consolidated Statements of Operations
                                                    Unaudited


                                                         Three months                    Nine months
                                                          January 31                  ended January 31,
                                                     2003           2002            2003           2002
                                                          Unaudited                      Unaudited
                                                  -------------------------------------------------------
<S>                                              <C>            <C>              <C>           <C>

 Revenue
   Food and beverage                              443,847        506,775         1,404,772      1,460,392
   Merchandise, memorabilia, and consulting fees    6,713          9,040           111,389        124,687
   Interest income                                    571          1,035             2,609          6,915
   Other income                                     2,052          2,094             5,955          9,976
                                                    -----          -----             -----          -----
                                                  453,183        518,944         1,524,725      1,601,970

 Costs and expenses
   Cost of food and beverage sales                108,810        129,464           337,140        376,913
   Cost of merchandise and memorabilia              6,365          6,517            34,990         70,467
   Restaurant payroll and related costs           172,974        172,720           519,179        510,132
   Restaurant occupancy costs                      47,657         62,690           182,040        185,828
   Other restaurant costs                          86,635         85,744           265,929        257,795
   General and administrative                      61,765         86,469           230,798        231,169
   Depreciation and amortization                   12,105         12,105            36,314         36,314
   Interest                                            -             313                50          1,348
                                                      ---            ---                --          -----
                                                  496,311        556,022         1,606,440      1,669,966
                                                  -------        -------         ---------      ---------

 Operating income (loss) before
         income tax expense                       (43,128)       (37,078)         (81,715)       (67,996)

 Income tax expense                                     -              -               -              -

     Net income  (loss)                           (43,128)       (37,078)        (81,715)       (67,996)

 Less: preferred stock dividends                  (15,938)       (15,938)        (47,814)       (47,814)

     Net income (loss) available to
        common stockholders                       (59,066)       (53,016)       (129,529)      (115,810)
                                                    ==============================================================

 Basic earnings (loss) per share                    (0.01)         (0.00)          (0.02)         (0.01)
                                                    ==============================================================

 Earnings (loss) per common share - assuming
full dulution                                       (0.01)         (0.01)          (0.02)         (0.01)
                                                    ==============================================================

 See notes to consolidated financial statements


</TABLE>

<PAGE>





                       CHAMPIONS SPORTS, INC. AND SUBSIDIARIES
                         Consolidated Statements of Cash Flows
                   Increase (Decrease) in Cash and Cash Equivalents
                                   UNAUDITED

                                                                 Januay 31
                                                            2003           2002
 Cash flows from operating activities:
   Net profit (loss)                                     (81,715)       (67,996)
   Adjustments to reconcile net income to
   net cash provided (used) by operating
   activities:
    Depreciation and amortization
                                                         36,314         36,314
    Changes in assets and liabilities:
      Accounts receivable                                 29             1,026
      Inventories                                         1,418          2,051
      Prepaid expenses                                   (2,088)        2,647
      Accounts payable                                  (52,664)       (65,880)
      Other accrued expenses                            (18,309)       (14,249)
      Deferred revenues                                (124,871)      (64,625)
      Deferred lease concessions                        (3,270)        (3,270)
                                                        ------         ------

 Net cash provided (used) by
   operating activities                                (245,156)      (173,982)

 Cash flows from investing activities:
     Stock subscriptions                                 5,000          20,000
     Purchases of property and equipment                (10,901)        (7,280)
                                                         -------        ------

 Net cash (used) by investing activities                 (5,901)        12,720

 Cash flows from financing activities:
    Principal payments on capital lease                  (1,929)        (7,540)
                                                         ------         ------


 Net increase (decrease) in cash and
   cash equivalents                                    (252,986)      (168,802)

 Cash and cash equivalents at beginning of year         449,282        451,650
                                                        -------        -------

 Cash and cash equivalents at January 31                196,296        282,849
                                                        =======        =======


 Supplemental disclosures of cash flow information:
        Cash paid during the year for interest               50          1,035


 See notes to consolidated financial statements



<PAGE>






                             CHAMPIONS SPORTS, INC.

                   Notes to Consolidated Financial Statements

                                January 31, 2003


Summarized Financial Information

Company or group of companies for which report is filed:

CHAMPIONS Sports, Inc. and Subsidiaries

     The  consolidated  balance sheet as of January 31, 2003,  the  consolidated
statements of operations and the  consolidated  statements of cash flows for the
three  months and nine months  ended  January 31, 2003 and January 31, 2002 have
been prepared by the company,  without audit. In the opinion of management,  all
adjustments  (which  include  only normal  recurring  adjustments)  necessary to
present fairly the financial position, results of operations and changes in cash
flow at January 31, 2002 and for all periods presented have been made.

     Certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted accounting  principles
have been omitted. It is suggested that these consolidated  financial statements
be read in conjunction with the financial  statements and notes thereto included
in the Company's  10-KSB as of April 30, 2002. The results of operations for the
period ended  January 31, 2003 are not  necessarily  indicative of the operating
results for the full year.

     This document contains "forward-looking  statements" (within the meaning of
the Private Securities  Litigation Act of 1995) that inherently involve risk and
uncertainties.  The Company's actual results could differ  materially from those
anticipated in the forward-looking statements as a result of unforeseen external
factors.  These factors may include,  but are not limited to, changes in general
economic  conditions,  the ongoing threat of terrorism,  customer  acceptance of
products offered and other general competitive  factors, and the ability to have
access to financing  sources on reasonable  terms.  Readers are cautioned not to
place  undue  reliance  on  these  forward-looking  statements,   which  reflect
management's  analysis,  judgment,  belief  or  expectation  only as of the date
hereof.


<page>


     Item 2.  Managements  Discussion  and Analysis of Financial  Condition  and
Results of Operations

Results of Operation

     For the nine month period ended  January 31, 2003,  the  Company's net loss
was $81,715 or ($0.02) per common  share as compared to a net loss of $67,996 or
($0.01) per common share for the nine month period ended  January 31, 2002.  For
the nine months ended  January 31, 2003 and January 31,  2002,  the net loss was
from the Company's ongoing operations.

     Dividends  accrued for the Company's  Preferred  Stock (net of conversions)
totaled $47,814.  The Company's assets decreased to $507,931 at January 31, 2003
from $785,689 at April 30, 2002. For the three months ended January 31, 2003 the
Company's  net loss from its ongoing  operations  was $43,128  compared to a net
operating loss of $37,078 during the three months ended January 31, 2002.

Revenues

     The Company's  total  revenues  decreased  4.8% to $1,524,725  for the nine
months ended January 31, 2003 versus  $1,601,970 for the nine month period ended
January 31, 2002. By component,  food and beverage sales decreased 3.8% from the
previous year for the nine months and 12.4% for the three months period from the
previous  year.  The  decrease in food and  beverage  sales is  attributed  to a
decrease in customer volume, and the current economic slowdown.  Merchandise and
memorabilia  sales for the nine  months  ended  January 31,  2003  decreased  to
$111,389 compared to $124,687.  The Company provided  memorabilia and consulting
services to one Marriott  CHAMPIONS during each comparable period. For the three
months ended January 31, 2003 and 2002,  merchandise and memorabilia  sales were
less than 2% of the Company's total revenues.  For the nine months ended January
31,  2003 and  2002,  other  income  was  less  than 1% of the  Company's  total
revenues.  Interest  income in all comparable  periods was also less than 1% the
Company's total revenue.

Expenses

     Cost of food and beverage  deceased to 24.0% of related sales  compared for
the nine months ended  January 31, 2003  compared to 25.8% related sales for the
comparable  period.  This is attributed to stable prices at the wholesale level.
Cost of merchandise and memorabilia  sales for the nine months ended January 31,
2003 was $34,990 compared to $70,467 in the preceding year.  Restaurant  payroll
and related  costs were 37.0% of related food and beverage  sales  contrasted to
34.9% for the nine months ended January 31, 2002.  The increase is attributed to
increases in health insurance benefits. Restaurant occupancy costs were $182,040
for the nine  months and  $47,657 for the three  months  ended  January 31, 2003
compared  to  $185,828  for the nine  months  and  $62,690  for the three  month
comparable  period  in  2002.  Other  restaurant  costs  were  18.9% of food and
beverage  sales for the nine months and 19.5% of food and beverage sales for the
three months ended January 31, 2003 compared to 17.7% of food and beverage sales
for the  comparable  nine month and 16.9% for the three months in 2002.  General
and  administrative  expense was $230,798 for the nine months ended  January 31,
2003  compared  to  $231,169  for  the  nine  months  ended  January  31,  2002.
Depreciation and amortization  expense  accounted for approximately 2.5 % of the
Company's total revenues during the nine months ended January 31, 2003 and 2002.

Liquidity and Capital Resources

     The Company's  cash  position on January 31, 2003  decreased by $252,986 to
$196,296 from $449,282 on April 30, 2002.  For the nine months ended January 31,
2003, the Company's  ongoing  operations  used cash totaling  $245,156.  For the
comparable period ending January 31, 2002, the Company's ongoing operations used
cash of  $173,982.  For the nine  months  ended  January 31,  2003,  the Company
purchased  equipment for its San Antonio  location for $10,901.  During the nine
months  ended  January 31, 2002,  the Company  purchased  equipment  for its San
Antonio CHAMPIONS for $7,280.

     The Company met its cash needs  during the nine  months  ended  January 31,
2003 and 2002 from its revenues  and from cash flow from its San Antonio,  Texas
operation.  The Company is facing  liquidity  problems and is uncertain  that it
will be able to continue  operations  with out an infusion of cash.  The Company
continues to review and evaluate its operations and  priorities.  The Company is
actively   pursuing  merger  or  acquisition   candidates  and  other  financing
possibilities  to meet  its  liquidity  needs.  There is no  assurance  that the
Company will be able to structure a merger or acquisition,  or raise  additional
financing on terms satisfactory to the Company.

     In January  2002,  the Company  entered  into an  agreement  with a private
investor,  to purchase from the Company 4,000,000 shares of the Company's common
restricted stock at a purchase price of $0.125 per share in the aggregate amount
of $500,000 payable in monthly installments to be used by the Company to provide
general working capital. The purchaser has paid a total of $60,000 as of January
31,  2003  and has not met the  payment  terms  of the  agreement.  The  Company
believes that the agreement may not be fulfilled

     The Company's  working capital was a negative  $412,427 on January 31, 2003
and negative $294,573 on April 30, 2002.

     Stockholder's  equity  was a  negative  $145,002  as of  January  31,  2003
compared to a negative $5,005 as of April 30, 2002.



Other

     In November  2002,  the  Company's  Board of  Directors  voted to defer the
annual meeting of shareholders in order to preserve the Company's cash position.
The Board  further  voted to defer the  payment  of the annual  dividend  on the
Company's 12%  Preferred  Stock to preserve the Company's  cash  position.  This
amount is accrued on the Company's books as a current liability.


Part II.   Other Information

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

         None



Item 6.  Exhibits and Reports on Form 8-K

            None

<PAGE>








                                   SIGNATURES

Pursuant to the requirements of Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.

                                             CHAMPIONS Sports, Inc.




                                              /s/ James Martell
                                             James Martell
                                             President



                                              /s/ James E. McCollam
                                             James E. McCollam
                                             Corporate Secretary,
                                             Chief Accounting Officer
                                             and Controller


March 17, 2003