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, 2001
         -----------------------------------------------------------

                                                     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 9, 2001, the Registrant had a total of 8,514,459  shares of
common stock outstanding.

                                        1

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                             CHAMPIONS SPORTS, Inc.

                                   FORM 10-QSB

                                      INDEX

                                                                   Page

Part I.           Financial Information

                  Item 1. Financial Statements

                  Consolidated Balance Sheets as of
                    January 31, 2001 (unaudited) and
                    April 30, 2000                                    3

                  Consolidated Statements of Operations:
                    Three months and nine months ended
                    January 31, 2001, and  January 31, 2000,
                          (unaudited)                                 4

                  Consolidated Statements of Cash Flows:
                    Nine months ended January 31, 2001, and
                    January 31,2000 (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





                                        2

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<TABLE>
<CAPTION>


                     CHAMPIONS SPORTS, INC. AND SUBSIDIARIES
                           Consolidated Balance Sheets

                                      Assets

                                                               January 31     April 30,
                                                                 2001           2000
                                                                 -------------------
                                                               UNAUDITED

<S>                                                            <C>          <C>
Current assets
Cash and cash equivalents .................................   $  433,496     $ 591,208
Accounts receivable - trade ...............................        3,455       114,063
Inventories ...............................................       51,898        24,181
Prepaid expenses ..........................................       16,529        25,632
Deferred tax asset ........................................      207,952       207,952
                                                                 -------       -------

Total current assets ......................................      713,329       963,036

Property and equipment
Furniture and equipment ...................................      572,547       552,634
Leasehold improvements ....................................      584,772       570,962
                                                                 -------       -------
                                                               1,157,319     1,123,596
Accumulated depreciation and amortization .................     (817,528)     (781,214)
                                                                --------      --------
                                                                 339,791       342,382

Other assets
Available for sale investments, at cost ...................       50,000       100,000
Deposits ..................................................       11,052        11,052
                                                                  ------        ------

Total assets ..............................................  $1,114,172$    $1,416,470
                                                              ========================


                       Liabilities and Stockholders' Equity

Current liabilities
Accounts payable ..........................................   $   118,38    $   48,173
Dividend payable on preferred stock .......................      447,690       383,940
Other accrued expenses ....................................       34,811        51,386
Deferred Revenues .........................................      100,000          --
Current portion of deferred lease concession ..............        4,363         4,363
Current portion of capital lease obligation ...............        8,412         8,412
                                                                   -----         -----
Total current liabilities .................................      713,664       496,274


Capital lease obligation,
net of current portion ....................................        6,073        12,223
Deferred lease concession,
 net of current portion ...................................       12,643        16,281
                                                                  ------        ------
Total liabilities .........................................      732,380       524,778


Commitments and contingencies

Stockholders' equity

  Series A, 12% Convertible Cumulative;
  $10 par value; preferred as to dividends
  and liquidation; 56,075 shares authorized;
  53,125 shares issued and
  outstanding for January 3, 2001
  and April 30, 2000 respectively .........................      531,252       531,252
Common stock, par value $.001 per share,
  50,000,000 shares authorized;
  8,514,459 shares issued and
  outstanding at January 31,2001
  and April 30, 2000, respectively ........................        8,514         8,514
Additional paid-in capital ................................    5,337,599     5,337,599
Accumulated deficit .......................................   (5,495,573)   (4,985,673)
                                                              ----------    ----------
Total stockholders' equity ................................      381,792       891,692
                                                                 -------       -------

Total liabilities and stockholders' equity ................   $1,114,172    $1,416,470
                                                               =========     =========


See notes to consolidated financial statements

</TABLE>



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<TABLE>
<CAPTION>



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


                                                     Three months                       Nine Months
                                                  ended January 31,                  ended January 31,
                                                2001             2000              2001             2000
<S>                                             <C>            <C>            <C>            <C>
Revenue
Food and beverage .........................   $   460,900    $   461,513    $ 1,414,600    $ 1,378,081
Merchandise, memorabilia,
 and consulting fees ......................         9,389         12,650        121,129        203,194
Interest income ...........................         7,171          5,827         21,369         18,017
Other income ..............................            38          3,512          3,947         11,595
                                                       --          -----          -----         ------
                                              $   477,498    $   483,502    $ 1,561,045    $ 1,610,887

Costs and expenses
Cost of food and beverage sales ...........   $   115,847    $   115,565    $   359,345    $   351,723
Cost of merchandise and memorabilia .......        32,333         10,141         97,464         70,911
Restaurant payroll and related costs ......       159,468        163,151        495,394        477,651
Restaurant occupancy costs ................       107,354         53,535        213,473        157,388
Other restaurant costs ....................        95,029        106,232        276,889        279,555
General and administrative ................       232,156         66,834        475,864        241,391
Depreciation and amortization .............        12,105         12,105         36,314         36,430
Interest ..................................           830          1,198          2,453          2,964
                                                      ---          -----          -----          -----
                                              $   755,123    $   528,761    $ 1,957,195    $ 1,618,013

Operating income (loss) before
 income tax e$pense .......................      (277,625)   $   (45,259)   $  (396,149)   $    (7,126)

Gain/(Loss) on security held for sale .....          --           93,684        (50,000)        93,684

Income tax expense ........................          --             --             --             --

Net income  (loss) ........................   $  (277,625)   $    48,425    $  (446,149)   $    86,558

Less preferred stock dividends
 (net of conversions) .....................       (15,938)       (15,938)       (47,814)       (47,814)
                                                  -------        -------        -------        -------

Net income (loss) available to common ....    $  (293,563)   $    32,487    $  (493,963)   $    38,744
                                              ===========    ===========    ===========    ===========
  stockholders

Basic earnings (loss) per share ...........   $     (0.03)          0.00         (0.06)           0.00

Earnings (loss) per common share - assuming
  dilution ................................   $     (0.0$)          0.00         (0.06)           0.00

See notes to consolidated financial statements

</TABLE>







                                        4

<PAGE>









                     CHAMPIONS SPORTS, INC. AND SUBSIDIARIES
                      Consolidated Statements of Cash Flows
                Increase (Decrease) in Cash and Cash Equivalents
                      For the nine months ended January 31,
                                    Unaudited
                                                        2001           2000
                                                        ----           ----
Cash flows from operating activities:
Net income (loss)                                      $(446,149)      $86,559
Adjustments to reconcile net income to net
  cash provided (used) by operating activities:
Depreciation and amortization                             36,314        36,430
Gain/(Loss) on securities held for sale                   50,000       (93,684)
Changes in assets and liabilities:
Accounts receivable                                      110,608           (73)
Inventories                                              (27,717)      (13,469)
Prepaid expenses                                           9,104       (18,222)
Deferred revenues                                        100,000             -
Accounts payable                                          70,214        30,172
Other accrued expenses                                   (16,575)       12,837
Deferred lease concessions                                (3,638)       (2,909)
                                                          ------        ------
Net cash provided (used) by
  operating activities                                  (117,839)       37,641

Cash flows from investing activities:
Purchases of property and equipment                      (19,913)       (6,156)
Leasehold improvements                                   (13,810)            -
Available for sale investments                                 -      (100,000)
Purchase of marketable securities                              -      (274,626)
Sale of marketable securities                                  -       368,310
                                                                       -------
Net cash (used) by investing activities                  (33,723)      (12,472)

Cash flows from financing activities:
Principal payments on capital lease                       (6,150)       (4,048)

Net increase (decrease) in cash and
  cash equivalents                                      (157,712)       21,121

Cash and cash equivalents at beginning of                591,208       726,241
year
Cash and cash equivalents at end of year                 433,496       524,470
                                                         =======       =======

Supplemental disclosures of cash flow information:
Cash paid during the year for interest                     2,453         2,964

See notes to consolidated financial statements











                                        5

<PAGE>





                             CHAMPIONS SPORTS, INC.

                   Notes to Consolidated Financial Statements

                                January 31, 2001


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,  2001,  the  consolidated
statements of operations and the  consolidated  statements of cash flows for the
three  months and nine months  ended  January 31, 2001 and January 31, 2000 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, 2001 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, 2000. The results of operations for the
period ended  January 31, 2001 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,  customer acceptance of products offered and other general
competitive  factors,  and the  ability to have access to  financing  sources on
reasonable  terms in order to  pursue  the  Company's  diversification  efforts.
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.




                                        6

<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, 2001,  the  Company's  net
loss was  $446,149  or $0.06 per  common  share as  compared  to a net profit of
$86,558 or ($0.00) per common share for the nine month period ended  January 31,
2000.  For the nine  months  ended  January  31,  2001,  the  Company's  ongoing
operations  generated  loss of $396,149 and a loss of $50,000 on a security held
for trade compared to a loss from  operations of $7,126 and a gain of $93,684 on
marketable  securities  held for trade during the nine months ended  January 31,
2000.  Dividends accrued for the Company's  Preferred Stock (net of conversions)
totaled  $47,814.  The Company's  assets  decreased to $1,114,172 at January 31,
2001 from  $1,416,470 at April 30, 2000.  For the three months ended January 31,
2001 the Company's net loss from its ongoing operations was $277,625 compared to
a net operating  loss of $45,259 and a realized gain of $93,684 from the sale of
marketable  securities  held for trade during the three months ended January 31,
2000.

Revenues

         The Company's total revenues  decreased 3.1% to $1,561,045 for the nine
months ended January 31, 2001 versus  $1,610,887 for the nine month period ended
January 31, 2000. By component,  food and beverage sales increased 2.6% from the
previous  year for the nine months and were the flat for the three months period
from the  previous  year.  The  nominal  growth  in food and  beverage  sales is
attributed to a increase in customer volume.  Merchandise and memorabilia  sales
for the nine months ended January 31, 2001 decreased 40.4% to $121,129  compared
to  $203,194.  This  decrease is  attributed  directly to the number of Marriott
CHAMPIONS locations opened during the period. For the three months ended January
31, 2001, this amount was $9,389 versus $12,650 for the comparable  period.  For
the nine months ended  January 31, 2001 and 2000,  other income was less than 1%
of the Company's total revenues.  Interest income in all comparable  periods was
approximately1.1% the Company's total revenue.

Expenses

         Cost of food and beverage remained  constant at approximately  25.4% of
related sales for all comparable periods. This is attributed to stable prices at
the wholesale  level.  Cost of merchandise  and  memorabilia  sales for the nine
months ended  January 31, 2001 was $97,464  compared to $70,911 in the preceding
year.  During the nine months  ended  January 31, 2001,  the Company  wrote down
memorabilia inventory of approximately  $23,000.  Restaurant payroll and related
costs  were  approximately  35.0% of  related  food and  beverage  sales for all
comparable periods. Restaurant occupancy costs were $213,473 for the nine months
and $107,354 for the three  months ended  January 31, 2001  compared to $157,388
for the nine month and $53,535 for the three  month  comparable  period in 2000.
This increase is  attributed  to a retro active  increase in common area charges
and real estate taxes passed on by the  landlord.  Other  restaurant  costs were
19.6% of food and  beverage  sales  for the nine  months  and  20.6% of food and
beverage  sales for the three months ended January 31, 2001 compared to 20.3% of
food and beverage  sales for the  comparable  nine month and 23.0% for the three
months in 2000.  General and  administrative  expense was  $475,864 for the nine
months  ended  January 31, 2001  compared to $241,391  for the nine months ended
January  31,  2000.  This  increase is  attributed  to the  Company's  effort to
diversify  into high-  technology by expanding the  management  team to focus on
business  opportunities  in that sector as  announced on August 23, 2000 and the
formation of a wholly owned  subsidiary,  Champions Tech Ventures.  Depreciation
and  amortization  expense  accounted for 2.3 % of the Company's  total revenues
during the nine months ended January 31, 2001 and 2000.

Liquidity and Capital Resources

         The Company's  cash position on January 31, 2001  decreased by $157,712
to $433,496 from  $591,208 on April 30, 2000.  For the nine months ended January
31, 2001, the Company's ongoing operations used cash totaling $117,839.  For the
comparable  period ending  January 31, 2000, the Company's  operations  provided
excess cash of $37,641 and the Company  realized a gain of $93,684 from the sale
of marketable  securities  held for trade. At January 31, 2001, the Company held
$50,000 of  restricted  securities  of a  privately  held  company  and owned no
marketable  securities held for trade.  During the nine months ended January 31,
2001, the Company purchased  equipment for its San Antonio CHAMPIONS for $19,913
and made leasehold  improvements in that same location totaling $13,810.  During
the nine months ended  January 31, 2000,  the Company  purchased  equipment  for
$6,156 for the CHAMPIONS location in San Antonio,  Texas and repaid borrowing of
$4,048.

         The Company met its cash needs during the nine months ended January 31,
2001 and 2000 from its revenues  and from cash flow from its San Antonio,  Texas
operation. The Company anticipates that the revenues generated from its location
in San Antonio,  Texas along with revenues  generated  from its  consulting  and
sales of memorabilia  will be sufficient to meet its operating  obligations  for
the next  twelve  months.  The  Company  continues  to review and  evaluate  its
operations  and  priorities,   and  is  actively  pursuing  its  diversification
opportunities to meet its longer-term growth and liquidity needs.


         The Company's  working  capital was a negative $335 on January 31, 2001
and $466,762 on January 31 2000.

         Stockholder's  equity was  $381,792 as of January 31, 2001  compared to
$891,692 as of April 30, 2000.




Other

         In November 2000, 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.


         Subsequent to January 31, 2001, the Company reduced its equity position
in  CHAMPIONS  Tech  Ventures,  Inc. to 36% and will no longer  consolidate  the
results  of  CHAMPIONS  Tech  Ventures,   Inc.  into  the  Company's   financial
statements.  Furthermore, the Company will not commit any further funding of the
operating activities of CHAMPIONS Tech Ventures, Inc.

                                        7

<PAGE>




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.

                                        8

<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 9 2001



                                        9

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