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         July 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 Blvd., 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  September  13,  2000,  the  Registrant  had a total of 8,514,459
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
                    July 31, 2000 (unaudited) and
                    April 30, 2000                                       3

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

                  Consolidated Statements of Cash Flows:
                    Three months ended July 31, 2000, and
                    July 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

                                     Assets

                                                       July 31      April 30

                                                         2000         2000
                                                         ----         ----

Current assets
  Cash and cash equivalents                           $594,164     $591,208
  Accounts receivable - trade                          185,646      114,063
  Inventories                                           27,382       24,181
  Prepaid expenses                                      13,012       25,632
  Deferred tax asset                                   207,952      207,952
                                                       -------      -------

           Total current assets                      1,028,155      963,036

Property and equipment
  Furniture and equipment                              567,821      552,634
  Leasehold improvements                               570,962      570,962
                                                       -------      -------
                                                     1,138,783    1,123,596
  Accumulated depreciation and amortization          (793,318)    (781,214)
                                                     --------     --------

                                                       345,465      342,382

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

           Total assets                             $1,434,672   $1,416,470
                                                    ==========   ==========


                Liabilities and Stockholders' Equity

Current liabilities
  Accounts payable                                     70,428        48,173
  Dividend payable on preferred stock                 383,940       383,940
  Other accrued expenses                               59,549        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                  526,692       496,274


Capital lease obligation, net of current portion       10,275        12,223
Deferred lease concession, net of current portion      14,827        16,281
                                                       ------        ------

             Total liabilities                        551,795       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 July 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 July 31
    and April 30, 2000, respectively                   8,514          8,514
  Additional paid-in capital                       5,337,599      5,337,599
  Accumulated deficit                            (4,994,488)    (4,985,673)
                                                 ----------     ----------


    Total stockholders' equity                       882,877        891,692

    Total liabilities and stockholders' equity    $1,434,672     $1,416,470
                                                  ==========     ==========


See notes to consolidated financial statements


                                        3

<PAGE>






                     CHAMPIONS SPORTS, INC. AND SUBSIDIARIES
                      Consolidated Statements of Operations

                                                    Three months ended July 31

                                                           2000        1999
                                                           ----        ----

Revenue
    Food and beverage                                    $503,391   $523,212
    Merchandise, memorabilia,
         and consulting fees                              101,211    104,726
    Interest income                                         6,822      6,800
    Other income                                            1,942      4,536
                                                            -----      -----

                                                          613,365    639,274

Costs and expenses
    Cost of food and beverage sales                       126,588    132,964
    Cost of merchandise and memorabilia                    33,143     38,403
    Restaurant payroll and related costs                  173,988    172,046
    Restaurant occupancy costs                             52,318     52,695
    Other restaurant costs                                 86,345     95,846
    General and administrative                             87,018    116,598
    Depreciation and amortization                          12,105     12,220
    Interest                                                  674        920
                                                              ---        ---

                                                          572,179    621,692


Operating income before income tax expense                 41,186     17,582

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

Income tax expense                                              -          -


  Net income (loss)                                       (8,814)     17,582
                                                          ------      ------

Less preferred stock dividends (net of conversions)      (15,938)   (15,938)

  Net income (loss) available to common
    stockholders                                        $(24,752)    $1,644
                                                        ========     ======


Basic earnings (loss) per common share                      $.00     $ .00
                                                            ----     -----

Earnings (loss) per common share - assuming
  dilution                                                   $.00      $.00
                                                             ====      ====


See notes to consolidated financial statements


                                        4

<PAGE>







                     CHAMPIONS SPORTS, INC. AND SUBSIDIARIES
                      Consolidated Statements of Cash Flows
                Increase (Decrease) in Cash and Cash Equivalents
                       For the three months ended July 31

                                                           2000         1999
                                                           ----         ----

Cash flows from operating activities:
   Net income                                            $(8,814)      $17,581
   Adjustments to reconcile net income to net
     cash provided (used) by operating activities:
       Depreciation and amortization                       12,104       12,201
       Loss on sale of marketable securities               50,000            -
       Changes in assets and liabilities:
          Accounts receivable                            (71,583)           97
          Inventories                                     (3,201)      (2,406)
          Prepaid expenses                                 12,620      (7,314)
          Accounts payable                                 22,255       62,932
          Other accrued expenses                            8,163      (2,106)
          Deferred lease concessions                      (1,454)        (727)
                                                          ------         ----

         Net cash provided (used) by
           operating activities                            20,090       80,258

Cash flows from investing activities:
   Purchases of property and equipment                   (15,187)
   Available for sale investments                                    (100,000)
   Purchase of marketable securities                                  (67,030)
                                                          -------     --------

         Net cash (used) by investing activities         (15,187)    (167,030)

Cash flows from financing activities:
   Principal payments on capital lease                    (1,948)      (1,053)

Net increase (decrease) in cash and
  cash equivalents                                          2,955     (87,825)

Cash and cash equivalents at beginning of year            591,208      726,241
                                                          -------      -------

Cash and cash equivalents at end of year                 $594,163     $638,416
                                                         ========     ========

Supplemental disclosures of cash flow information:
   Cash paid during the year for interest                     674          919
                                                              ---          ---


See notes to consolidated financial statements



                                        5

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                             CHAMPIONS SPORTS, INC.

                   Notes to Consolidated Financial Statements

                                  July 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 July  31,  2000,  the  consolidated
statements of operations and the  consolidated  statements of cash flows for the
three  months  ended July 31, 2000 and July  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 July 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 July 31,  2000 are not  necessarily  indicative  of the  operating
results for the full year.




                                        6

<PAGE>




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


Results of Operation

     For the three months ended July 31, 2000, the Company's net loss was $8,814
and the net loss available for common shareholders was $24,752 ($0.00 per common
share).  The Company's  assets  increased to $1,434,672 as of July 31, 2000 from
$1,416,470 at April 30, 2000.

     For the three month period ended July 31, 1999,  the  Company's  net income
was  $17,582,  and the net income  available to common  shareholders  was $1,644
($0.00 per common share).  The Company's  assets increased to $1,425,472 at July
31, 1999 from $1,350,134 at April 30, 1999.

Revenues

     The Company's  total revenues were $613,365 for the three months ended July
31, 2000 versus  $639,274  for the three month  period  ended July 31,  1999,  a
decrease of $25,909 or 4.1%. By  component,  food and beverage  sales  decreased
3.8%  from the  previous  year.  This  decrease  in food and  beverage  sales is
attributed  to a decline in customer  volume  compared to the three months ended
July 31, 1999 when the NBA championship  playoff games were held in San Antonio.
Merchandise,  memorabilia and consulting  revenues  decreased 3.4% for the three
months  ended  July  31,  2000 to  $101,211  compared  to  $104,726  during  the
comparable  period in the prior  year.  This  decrease is  attributed  to slower
merchandise sales at the San Antonio  location.  Interest income was 1.1% of the
Company's total revenue for both comparable  periods.  Other income  represented
less than 1.0% of total  revenues  for the three  months ended July 31, 2000 and
1999.

Expenses

     Cost of food and beverage  remained constant at 25.1% and 25.4 % of related
sales for the three months ended July 31, 2000 and 1999. Cost of merchandise and
memorabilia  sales for the three months ended July 31, 2000 was $33,143 compared
to $38,403 in the  preceding  year.  Restaurant  payroll and related  costs were
34.6% of related  food and  beverage  sales for the three  months ended July 31,
2000 and 32.9%  for the three  months  ended  July 31,  1999.  The  increase  in
restaurant  payroll is attributed the a scarce labor market and the necessity to
increase hourly wages to retain experienced workers.  Restaurant occupancy costs
remained constant for both comparable periods.  Other restaurant costs decreased
to 17.2% of related food and beverage  sales for the three months ended July 31,
2000  compared to 18.3% of related  sales during the three months ended July 31,
1999. General and administrative  expense for the Company's corporate office was
14.2% of the Company's  total  revenues for the three months ended July 31, 2000
compared to 18.2 % of total  revenues for the three  months ended July  31,1999.
Depreciation and  amortization  expense were constant at approximately 2% of the
Company's total revenues during each comparable period.
                                       7

<PAGE>

Liquidity and Capital Resources

     The  Company's  cash  position  on July 31, 2000 was  $594,164  compared to
$591,208 on April 30,  2000,  a increase of $2,955.  For the three  months ended
July 31, 2000, the Company's operating  activities provided cash of $20,090. The
Company purchased restaurant equipment for $15,187 and repaid capital leases for
$1,948. The Company realized a loss of $ 50,000 on a security held for sale. The
Company met its  liquidity  needs  during the period from its  revenues and cash
flow from its San Antonio location.

     For the three month ended July 31, 1999, the Company's operating activities
provided  net cash of  $80,258.  The  Company  used its cash to repay  equipment
leases for $1,053. The Company purchased  marketable  investment  securities for
$67,030 and restricted  securities for $100,000.  The Company met its cash needs
during the three months ended July 31, 1999 from its revenues and from cash flow
from its San Antonio, Texas operation.

     The Company  anticipates that it will be able to meet its cash requirements
for the  next  twelve  months  from  its cash  reserves  and from its  operating
activities.

     The Company's  working capital was $501,463 on July 31 2000 and $466,762 on
April 30, 2000.

     Stockholder's  equity was $882,877 as of July 31, 2000 compared to $891,692
as of April 30, 2000.

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

Other

     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  and  services
offered and other general competitive factors.


                                        8

<PAGE>









Subsequent Events

     On August 23, 2000,  the Company  announced its intention to diversify into
high-technology   area  by  expanding  its   management  to  focus  on  business
opportunities in that sector. The Company signed agreements with James J. Heigl,
Jr to be its Chief  Executive  Officer and Director,  and Harry A. Lee to be its
Chief  Operating  Officer  and  Director.  Mr.  Heigl was  subsequently  elected
Chairman of the Board of Directors.

     The Company intends to change its name to Champions Ventures Group, Inc.





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
hereunto duly authorized.

                                    CHAMPIONS Sports, Inc.




                                    /s/ James J. Heigl, Jr.
                                    -----------------------
                                    James J. Heigl, Jr
                                    Chairman and Chief Executive Officer



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


September 13, 2000



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