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, 2000

                                       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 10, 2000, the Registrant had a total of 8,513,591 shares of
common stock outstanding.

                                        1


<PAGE>




                             CHAMPIONS SPORTS, Inc.

                                   FORM 10-QSB

                                      INDEX

                                                                      Page

Part I.     Financial Information

            Item 1. Financial Statements

            Consolidated Balance Sheets as of
              January 31, 2000 (unaudited) and

              April 30, 1999                                            3

            Consolidated Statements of Operations:
              Three months and nine months ended
              January 31, 2000, and  January 31, 1999,
                    (unaudited)                                         4

            Consolidated Statements of Cash Flows:
              Nine months ended January 31, 2000, and
              January 31,1999 (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


<PAGE>





             Champions Sports, Inc. and Subsidiaries
                   Consolidated Balance Sheets

                                               January 31, 2000  April 30, 1999
                                                    UNAUDITED

                             ASSETS

Current assets

   Cash and cash equivalents                          $747,362       $726,241
   Marketable securities                                     -              -
   Accounts receivable - trade                             873            800
   Inventories                                          33,645         20,176
   Prepaid  expenses                                    21,454          3,232
   Deferred tax asset                                  207,952        207,952
         Total current assets                       $1,011,286       $958,401

Property and Equipment

   Furniture and Equipment                             545,275        539,139
   Leasehold improvements                              570,962        570,962
                                                     1,116,237      1,110,101
   Accumulated depreciation and amortization         (767,119)      (729,420)
          Total Property and Equipment                 349,118        380,681

Other assets

   Deposits                                             11,052         11,052
    Investments                                        100,000              -

         Total assets                               $1,471,456     $1,350,134

     LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities

   Accounts payable                                    $66,990        $36,817
   Dividend payable on preferred stock                 383,940        336,450
   Notes payable                                         6,885          6,885
   Other accrued expenses                               50,860         38,023
   Current portion of deferred lease concession          4,363          4,363
         Total current liabilities                     513,038        422,538

Deferred lease concession
(excluding current portion)                             17,372         20,281
Note payable, excluding current portion                 15,597         19,645

Commitments and contingencies

Stockholders' equity
   Preferred stock:

    Series A, 12% convertible cumulative,
    par value $10 per share,preferred as
    to dividends and liquidation: 56,075 shares
    authorized: 53,325 and 55,775  issued and
    outstanding at January 31, 2000 and
    April 30, 1999                                     533,250        557,752

   Common stock, par value $.001 per share,
   50,000,000 shares authorized: 8,513,591 and
   8,500,638 shares issued and outstanding at
   October 31 and April 30, 1999                         8,504          8,502
    Additional paid-in capital                       5,334,322      5,311,111
    Accumulated deficit                             (4,950,626)    (4,989,695)
          Total stockholders' equity                   925,450        887,670

   Total liabilities and stockholders' equity       $1,471,457     $1,350,134
See notes to consolidated financial statements


                                        3


<PAGE>



<TABLE>
<CAPTION>


        CHAMPIONS SPORTS, INC.
 Consolidated Statement of Operations
              (Unaudited)

                                         Three months     Three months      Nine months      Nine months
                                       ended January 31 ended January 31 ended January 31  ended January 31
                                             2000             1999             2000              1999

Revenue

<S>                                            <C>               <C>            <C>               <C>
   Food and beverage sales                     $461,513          $409,758       $1,378,081        $1,276,838
   Merchandise, memorabilia and consulting fee   12,650           236,703          203,194           330,929
   Interest income                                5,827             5,571           18,017            17,789
   Other income                                   3,512             3,493           11,595            13,747
Total Revenues                                 $483,502          $655,525       $1,610,887        $1,639,303


Expense

   Cost of food and beverage sales             $115,565          $112,295         $351,723          $346,282
   Cost of merchandise and memorabilia           10,141            74,828           70,911           105,832
   Restaurant payroll and related costs         163,151           150,960          477,651           448,726
   Restaurant occupancy costs                    53,535            48,415          157,388           155,422
   Other restaurant costs                       106,232            93,900          279,555           283,254
   General and administrative                    66,834           114,536          241,391           278,838
   Depreciation and amortization                 12,105            13,567           36,430            40,702
   Interest expense                               1,198                 -            2,964                 -
Total Expense                                   528,761           608,501        1,618,013         1,659,056

Net Income (loss) from operations              ($45,259)           $47,024         $(7,126)         $(19,753)

Gain on the sale of securities held for trade    93,684                 -           93,684                 -

Less preferred stock dividends                   15,998            15,998           47,994            47,994

Net income  (loss)                              $32,427           $31,026          $38,564         $(67,747)

Basic earnings per  common share                  $0.00             $0.00            $0.00           $(0.01)

Earnings per common share -                       $0.00             $0.00            $0.00           $(0.01)
    fully diluted

   Weighted average number of common
    shares outstanding during the period      8,513,591         8,500,638        8,513,591         8,500,638

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,


                                                         2000         1999

Cash flows from operating activities:

   Net income                                           $86,559     $(19,751)
   Adjustments to reconcile net income
   to cash provided by (used )
   by operating activities:
  Depreciation and amortization                          36,430       40,702
  Gain on the sale of marketable
  securities held for trade                             (93,684)           -
  Changes in asset and liabilities
      Accounts receivable                                  (73)      (25,838)
      Inventories                                      (13,469)        9,067
      Prepaid expenses                                 (18,222)      (10,174)
      Accounts payable                                   30,172       83,774
      Other accrued expenses                             12,837      (12,027)
      Deferred lease concessions                        (2,909)       (3,272)
 Net cash provided (used) by operating activities       37,641        62,481


Cash flows from investing activities:

   Purchase of restricted securities                  (100,000)            -
   Purchase of marketable
   securities held for trade                          (274,626)            -
   Sale of marketable securities held for trade         368,310            -
   Purchase of property and equipment                   (6,156)       (4,015)
 Net cash provided ( used) by investing activities     (12,472)       (4,015)


Cash flows from financing activities:

   Repayment of borrowings                              (4,048)            -
 Net cash provided (used)  by financing activities      (4,048)            -


Net increase(decrease)in cash and cash equivalents       21,121       58,466

Cash and cash equivalents at beginning of year          726,241      631,230
Cash and cash equivalents at January 31,                747,362      689,696

Supplemental disclosure of cash flow information:

  Cash paid during the period  for interest               2,964            -
See notes to consolidated financial statements




                                        5


<PAGE>












                             CHAMPIONS SPORTS, INC.

                   Notes to Consolidated Financial Statements

                                January 31, 2000


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,  2000,  the  consolidated
statements of operations and the  consolidated  statements of cash flows for the
three  months and nine months  ended  January 31, 2000 and January  31,1999 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, 2000 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, 1999. The results of operations for the
period ended  January 31, 2000 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 risks and
uncertainties.  The Company's actual results could differ  materially from those
anticipated  in  these  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.

                                        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, 2000,  the  Company's  net
income  was  $38,564  or $0.00 per  common  share as  compared  to a net loss of
$67,747 or ($0.01) per common share for the nine month period ended  January 31,
1999.  For the nine  months  ended  January  31,  2000,  the  Company's  ongoing
operations  generated loss of $7,126 and the Company  realized a gain of $93,684
on  marketable  securities  held for trade , compared to a loss of $19,753  from
continuing operations in the comparable period ended January 31, 1999. Dividends
accrued for the Company's Preferred Stock totaled $47,994.  The Company's assets
increased to $1,471,456  at January 31, 2000 from  $1,350,134 at April 30, 1999.
The Company's net loss from its ongoing  operations was $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  versus a net income from  operations  of
$47,024 for the three months ended January 31, 1999.

Revenues

         The Company's  total revenues were $1,610,887 for the nine months ended
January 31, 2000 versus  $1,639,303  for the nine month period ended January 31,
1999, a decrease of 1.7%. By component,  food and beverage sales  increased 7.9%
from the  previous  year,  for the nine  months  and 12.6% for the three  months
period from the  previous  year.  This  increase in food and  beverage  sales is
attributed to a increase in customer volume,  especially  during the NBA playoff
games and to an approximate  4% increase in menu prices  initiated in October of
1999.  Sales trends  continue to improve and are expected to increase 7 to 8% to
the comparable prior year. Merchandise and memorabilia sales for the nine months
ended January 31, 2000 decreased 38.6% to $203,194 compared to $330,929 or 20.1%
of the Company's total revenues for the nine months ended January 31,1999.  This
decrease is attributed  directly to the number of Marriott  CHAMPIONS  locations
opened  during the period.  For the three  months ended  January 31, 2000,  this
amount was $12,650,  or 2.6% of the Company's  total revenue versus  $236,703 or
36.1 % of the Company's  revenues for the three months  ending  January 31, 1999
and $203,194 or 12.6% for the nine months ended January 31, 2000 and $330,929 or
20.2% for the nine months  ended  January 31,  1999.  For the nine months  ended
January 31, 2000 and 1999,  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 25.5% of related sales
for the nine  months  and 25.0% for the three  months  ended  January  31,  2000
compared  to 27.1% for the nine  months  and 27.4%  for the three  months  ended
January 31, 1999. This is attributed to stable prices at the wholesale level and
an increase in menu prices.  Cost of merchandise and  memorabilia  sales for the
nine months  ended  January  31,  2000 was  $70,911  compared to $105,832 in the
preceding year.  Restaurant payroll and related costs were 34.7% of related food
and  beverage  sales for the nine  months and 35.4% for the three  months  ended
January  31,  2000,  versus  35.1% for the nine  months  and 36.8% for the three
months ended January 31, 1999.  Restaurant occupancy costs were $157,388 for the
nine months and $53,535 for the three months ended  January 31, 2000 compared to
$155,422 for the nine month and $48,415 for the three month comparable period in
1999. This

                                        7


<PAGE>



increase  is  attributed  to higher  common area  charges and real estate  taxes
passed  on by the  landlord.  Other  restaurant  costs  were  20.1%  of food and
beverage  sales for the nine months and 23.1 of food and beverage  sales for the
three months ended January 31, 2000 compared to 22.2% of food and beverage sales
for the  comparable  nine month and 22.9% for the three months in 1999.  General
and administrative  expense for the Company's  corporate office was $241,391 for
the nine months ended  January 31, 2000 compared to $278,838 for the nine months
ended January 31, 1999. Depreciation and amortization expense accounted for less
than 2.5 % of the Company's  total revenues during the nine months ended January
31, 2000 and 1999.

Liquidity and Capital Resources

         The Company's cash position on January 31, 2000 increased by $21,121 to
$747,362 from $726,241 on April 30, 1999.  For the nine months ended January 31,
2000, the Company's ongoing operations  provided 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, 2000, the Company held $100,000 of restricted  securities
of privately held companies and owned no marketable  securities  held for trade.
Subsequent  to January 31, 2000,  the Company  purchased  additional  marketable
securities  held for trade for  approximately  $300,000.  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 $4,040. Fro the
nine months ended January 31, 1999, the Company's operating  activities provided
$62,481 in cash.  The  Company met its cash needs  during the nine months  ended
January  31,  2000 and 1999  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's  working  capital  was  $498,248 on January 31, 2000 and
$535,863 on January 31 1999.

         Stockholder's  equity was  $925,450 as of January 31, 2000  compared to
$887,670 as of April 30, 1999.

         The  Company  continues  to review  and  evaluate  its  operations  and
priorities.  The Company is actively  pursuing merger or acquisition  candidates
and other  opportunities  to meet its longer term liquidity  needs.  There is no
assurance  that the Company will be able to structure a merger or acquisition on
terms satisfactory to the Company.

Other

         In November 1999, the Company's  Board of Directors  voted to defer the
annual meeting of shareholders in order to preserve the Company's cash position.

                                        8


<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.

                                        9


<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
                                    Chairman, President and
                                    Chief Executive Officer


                               /s/ James E. McCollam

                                   James E. McCollam

                                   Corporate Secretary, Chief Accounting
                                   Officer and Controller

March 10, 2000



                                       10


<PAGE>