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 October 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.)

                 Suite 214, 2420 Wilson Boulevard, 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 December 10, 2000 the Registrant had a total of 8,514,459  shares
of common stock outstanding.



<PAGE>





                             CHAMPIONS SPORTS, Inc.

                                   FORM 10-QSB

                                      INDEX

                                                                            Page

Part I.  Financial Information

                  Item 1.       Financial Statements

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

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

                  Consolidated Statements of Cash Flows:
                    Six months ended October 31, 2000, and
                    October 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


<PAGE>

<TABLE>
<CAPTION>


                     CHAMPIONS SPORTS, INC. AND SUBSIDIARIES
                           Consolidated Balance Sheets

                                     Assets

                                                                 October 31,    April 30,
                                                                   2000           2000
                                                               ------------   -------------
                                                                       UNAUDITED
                                                                ---------
<S>                                                             <C>            <C>

Current assets
 Cash and cash equivalents ...................................     $541,706      $591,208
   Accounts receivable - trade ...............................        5,952       114,063
   Inventories ...............................................       26,447        24,181
   Prepaid expenses ..........................................       22,249        25,632
   Deferred tax asset ........................................      207,952       207,952
                                                                 ----------    ----------
          Total current assets ...............................      804,305       963,036
                                                                 ----------    ----------

Property and equipment
   Furniture and equipment ...................................      572,547       552,634
   Leasehold improvements ....................................      577,884       570,962
                                                                 ----------    ----------
                                                                  1,150,432     1,123,596
   Accumulated depreciation and amortization .................     (805,423)     (781,214)
                                                                 ----------    ----------
                                                                    345,009       342,382
                                                                 ----------    ----------
Other assets
   Available for sale investments, at cost ...................       50,000       100,000
   Deposits ..................................................       11,052        11,052
                                                                 ----------    ----------
          Total assets .......................................   $1,210,366    $1,416,470
                                                                 ==========    ==========

                      Liabilities and Stockholders' Equity

Current liabilities
   Accounts payable ..........................................      $22,946       $48,173
   Dividend payable on preferred stock .......................      383,940       383,940
   Other accrued expenses ....................................       45,574        51,386
   Current portion of deferred lease concession ..............        4,363         4,363
   Current portion of capital lease obligation ...............        8,412         8,412
                                                                 ----------    ----------
          Total current liabilities ..........................      465,236       496,274
                                                                 ----------    ----------

Capital lease obligation, net of current portion .............        8,227        12,223
Deferred lease concession, net of current portion ............       13,737        16,281
                                                                     ------        ------

          Total liabilities ..................................      487,199       524,778
                                                                 ----------    ----------

Commitments and contingencies

Stockholders' equity
   Preferred stock
     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
     October 31 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 October, 31 and April 30, 2000,
     respectively ............................................        8,514         8,514
   Additional paid-in capital ................................    5,337,599     5,337,599
   Accumulated deficit .......................................   (5,154,198)   (4,985,673)
                                                                 ----------    ----------
          Total stockholders' equity .........................      723,167       891,692
                                                                 ----------    ----------
          Total liabilities and stockholders' equity .........   $1,210,366    $1,416,470
                                                                 ==========    ==========

See notes to consolidated financial statements


</TABLE>

<PAGE>


<TABLE>
<CAPTION>



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

                                                          Three months         Six months
                                                        ended October 31,           ended October 31,
                                                        2000          1999        2000           1999
<S>                                                  <C>            <C>          <C>            <C>

Revenue

    Food and beverage ...........................     $450,308      $393,356      $953,699      $916,568
    Merchandise, memorabilia, and consulting fees       10,529        85,818       111,740       190,544
    Interest income .............................        7,377         5,390        14,199        12,190
    Other income ................................        1,967         3,547         3,909         8,083
                                                         -----         -----         -----         -----
                                                       470,181       488,111     1,083,547     1,127,385
Costs and expenses
    Cost of food and beverage sales .............      116,910       103,194       243,498       236,158
    Cost of merchandise and memorabilia .........       31,987        22,367        65,130        60,770
    Restaurant payroll and related costs ........      161,938       142,454       335,926       314,500
    Restaurant occupancy costs ..................       53,801        51,158       106,119       103,853
    Other restaurant costs ......................       95,515        77,477       181,860       173,323
    General and administrative ..................      156,689        57,959       243,707       174,557
    Depreciation and amortization ...............       12,104        12,105        24,209        24,325
    Interest ....................................          948           846         1,622         1,766
                                                           ---           ---         -----         -----
                                                       629,893       467,560     1,202,072     1,089,252

Operating income(loss) before income tax expense      (159,712)       20,551      (118,525)       38,133

Loss on security held for sale ..................         --            --         (50,000)         --

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

       Net income (loss).........................     (159,712)       20,551      (168,525)       38,133

Less preferred stock dividends (net of ..........      (15,938)      (15,938)      (31,876)      (31,876)
                                                       -------       -------       -------       -------
conversions)

       Net income (loss) available to common ....    $(175,650)       $4,613     $(200,401)       $6,257
                                                     =========        ======     =========        ======
         stockholders

Basic earnings (loss) per share .................        $0.02)        $0.00        $(0.02)        $0.00

Earnings (loss) per common share - assuming
  dilution ......................................       $(0.02)        $0.00        $(0.02)        $0.00

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
                    For the six months ended October 31,
                                    Unaudited
                                                         2000         1999
                                                         ----         ----
Cash flows from operating activities:
    Net inccome (loss) .............................   (168,525)     38,133
       Adjustments to reconcile net income to net
      cash provided (used) by operating activities:
      Depreciation and amortization ................     24,209      24,325
      Loss on securities held for sale .............     50,000        --
      Changes in assets and liabilities:
         Accounts receivable .......................    108,111     (75,031)
         Inventories ...............................     (2,266)     (4,866)
         Prepaid expenses ..........................      3,383      (5,493)
         Accounts payable ..........................    (25,227)     42,461
         Other accrued expenses ....................     (5,812)     (5,076)
         Deferred lease concessions ................     (2,544)     (1,837)
             Net cash provided (used) by
               operating activities ................    (18,671)     12,616

Cash flows from investing activities:
    Purchases of property and equipment ............    (19,913)     (1,148)
    Leasehold improvements .........................     (6,922)
    Available for sale investments .................         --    (100,000)
    Purchase of marketable securities ..............         --    (111,059)

             Net cash (used) by investing activities    (26,835)   (212,207)

Cash flows from financing activities:
    Principal payments on capital lease ............     (3,996)     (2,180)

Net increase (decrease) in cash and
  cash equivalents .................................    (49,502)   (201,771)

Cash and cash equivalents at beginning of year .....    591,208     726,241
Cash and cash equivalents at end of year ...........    541,706     524,470

Supplemental disclosures of cash flow information:
    Cash paid during the year for interest .........      1,622       1,766

See notes to consolidated financial statements



<PAGE>




                             CHAMPIONS SPORTS, INC.

                   Notes to Consolidated Financial Statements

                                October 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  October  31,  2000,  the  consolidated
statements of  operations  for the three months and six months ended October 31,
2000 and October 31, 1999 and the consolidated  statements of cash flows for the
six months ended October 31, 2000 and October 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 October
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, 2000. The results of operations for the
period ended  October 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 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.




<PAGE>




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

Results of Operation

         For the six months ended October 31, 2000,  the Company's net loss from
operations was $168,525 before preferred stock dividends of $31,876 resulting in
a net loss of $200,401 or ($0.02) per common share

         For the six months ended  October 31, 1999,  the  Company's  net income
from  operations  was  $38,133  before  preferred  stock  dividends  of  $31,876
resulting in a net income of $6,257 or $0.00 per common share.

          The Company's  assets decreased to $1,210,366 at October 31, 2000 from
$1,416,470  at  April  30,  2000 as a result  of the net loss for the six  month
period.

Revenues

         The Company's  total  revenues  decreased 3.9% for the six month period
and 3.7% for the three month period ended October 31, 2000. The Company's  total
revenues were  $1,083,547  and  $1,127,385  for the six months ended October 31,
2000 and 1999. By component,  food and beverage sales increased 4.1% to $953,699
for the six months ended October 31, 2000 from $916,568 for the six months ended
October 31, 1999.  The increase in food and beverage  sales is  attributed to an
increase in customer  volume and an increase in the average  customer  check, as
there were no increases in retail pricing.  For the three month period, food and
beverage sales increased 14.5% for the comparable  period.  The increase in food
and  beverage  sales is a result of an increase in  customer  volume  during the
quarter ended October 31, 2000.  Merchandise and  memorabilia  sales for the six
months  ended  October  31,  2000 were  $111,740  compared  to  $190,544  in the
comparable  period.  The Company  provided  sports  memorabilia  to one Marriott
Champions  locations  during  the six  months  ended  October  31,  2000 and two
Marriott  Champions  location  during the six months  ended  October  31,  1999.
Interest  income and other income  represent 2% or less of the  Company's  total
revenues for the three months and six months ended October 31, 2000 and 1999.


Expenses

         Cost of food and beverage remained  relatively constant at 25.5% versus
25.8% of food and beverage  sales of for the six months  ended  October 31, 2000
and  1999.  Cost of  merchandise  and  memorabilia  sales was 58.3% and 31.9% of
related sales for the six months ended October 31, 2000 and 1999. During the six
months ended October 31, 2000, the Company wrote down  memorabilia  inventory of
approximately $23,000. Restaurant payroll and related



<PAGE>



costs  increased to 35.2% of related  sales for the six months ended October 31,
2000  compared  to 34.3% of food and  beverage  sales  during  1999.  Restaurant
occupancy costs remained constant at 11.1% and 11.3% of restaurant sales for the
six month comparable  periods.  Other restaurant costs also remained  relatively
constant for the comparable periods at approximately  19.0% of restaurant sales.
General  and  administrative  expense  for the  Company's  corporate  office was
$243,707  or 22.5% of the  Company's  total  revenues  for the six months  ended
October 31, 2000  compared to $174,557 or 15.5% for the six months ended October
31, 1999. 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.  For the three and six
months ended October 31, 2000,  the Company has expended  approximately  $85,000
for this  diversification.  To date,  the Company's  diversification  efforts in
high-technology  have not yet  produced  revenue.Depreciation  and  amortization
expense  represented  2.2% of the Company's total revenues during each six-month
period.



Liquidity and Capital Resources

         The Company's  cash position on October 31, 2000 was $541,706  compared
to $591,208 on April 30, 2000,  a decrease of $49,502.  For the six months ended
October 31, 2000, the Company's  operating  activities used $18,671 in cash. The
Company  used  its  cash to repay  equipment  leases  for  $3,996.  The  Company
purchased equipment for $19,913 and made leasehold improvements of $6,932.

          For the six months ended  October 31, 1999,  the  Company's  operating
activities  provided  $12,616 in cash. The Company  purchased $1,148 in property
and equipment. The Company, for the six months ended October 31, 1999, purchased
marketable   investment   securities  for  $111,059  and  restricted  investment
securities for $100,000.  During the six months ended October 31, 2000 and 1999,
the Company met its cash needs from its revenues and cash reserves and from cash
flow from its San Antonio operation.

         On October 31, 2000 the Company's  working  capital was $339,069 versus
$466,762 on April 30, 2000. To continue its diversification efforts, the Company
will need to raise additional capital through a Private  Placement.  The Company
anticipates that the revenues  generated from its operations,  its cash reserves
and its funding efforts, if successful, will be sufficient to meet its operating
obligations  for the next twelve  months.  Should the Company be unable to raise
sufficient capital, its diversification efforts may be halted.

         Stockholder's  equity  decreased  to  $723,167  as of October  31, 2000
compared to $891,692 as of April 30,  2000,  as a result of the net loss for the
six month period.





<PAGE>



Subsequent Events


         In November,  2000,  the Board of  Directors,  in order to preserve the
Company's cash reserves,  voted to defer payment of $63,750, the annual dividend
on the Series A, 12% convertible,  cumulative Preferred Stock, par value $10, of
which there were 53,125  shares  outstanding  at October 31, 2000.  The Board of
Directors also voted to defer the annual meeting of security holders in order to
preserve the Company's cash reserves.

Other Matters

         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 is considering a Private
Placement to fund its  diversification  efforts into  high-technology,  however,
there is no assurance that the Company will be able to raise sufficient capital,
if any, to continue it's diversification  efforts.  Should the Company be unable
to raise sufficient capital, its diversification efforts may be halted.




Part II.   Other Information

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

         There were no matters  submitted to a vote of Security  Holders  during
the three month period ended October 31, 2000.



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 M. Martell
                                   --------------------

                                    James M. Martell
                                    President



                                    /s/ James E. McCollam
                                    ---------------------

                                    James E. McCollam
                                    Controller and Chief Accounting
                                     Officer


December 14, 2000


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