FORM 10-K
                SECURITIES AND EXCHANGE COMMISSION
                      Washington, DC  20549
 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                      EXCHANGE ACT OF 1934 
            For the fiscal year ended August 31, 1998.

                 Commission File Number:  0-24450

              RAWLINGS SPORTING GOODS COMPANY, INC.
      (Exact name of registrant as specified in its charter)

               Delaware                    43-1674348
(State or other jurisdiction            (I.R.S. Employer
of incorporation or organization)       Identification No.)

1859 Intertech Drive, Fenton, Missouri              63026
(Address of principal executive offices)          (Zip Code)

Registrant's telephone number, including area code:(314) 349-3500

Securities registered pursuant to Section 12(b) of the Act:  None

   (Securities registered pursuant to Section 12(g) of the Act:
              Common Stock, par value $.01 per share
                         (Title of Class)

     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 the filing
requirements for at least the past 90 days.

     Yes   X      No

     Indicate by check mark if disclosure of delinquent filers
pursuant to Item 405 of Regulation S-K is not contained herein,
and will not be contained, to the best of registrant's knowledge,
in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [  ]

     The aggregate market value of the voting Common Stock held
by nonaffiliates of the registrant as of September 14, 1998 was
$79,893,451.

     The number of shares of the registrant's Common Stock, $.01
par value, outstanding as of September 17, 1998, was 7,794,483.

               DOCUMENTS INCORPORATED BY REFERENCE

     Portions of the registrant's 1998 Annual Report are
incorporated by reference into Item 1 of Part I and Items 5, 6, 7
and 8 of Part II of this report.  Portions of the registrant's
proxy statement for the annual meeting are incorporated by
reference into Items 10, 11, 12 and 13 of Part III of this
report.


<PAGE>




                        TABLE OF CONTENTS


                                                            Page

PART I   . . . . . . . . . . . . . . . . . . . . . . . . . . . .1
     Item 1.   Business. . . . . . . . . . . . . . . . . . . . .1
     Item 2.   Properties  . . . . . . . . . . . . . . . . . . 14
     Item 3.   Legal Proceedings . . . . . . . . . . . . . . . 16
     Item 4.   Submission of Matters to a Vote of Security
               Holders . . . . . . . . . . . . . . . . . . . . 17

PART II. . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
     Item 5.   Market for Registrant's Common Equity and 
               Related Stockholder Matters . . . . . . . . . . 17
     Item 6.   Selected Financial Data . . . . . . . . . . . . 18
     Item 7.   Management's Discussion and Analysis of 
               Financial Condition and Results of Operations . 18
     Item 8.   Financial Statements and Supplementary Data . . 18
     Item 9.   Changes in and Disagreements with Accountants
               on Accounting and Financial Disclosure. . . . .118

PART III . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
     Item 10.  Directors and Executive officers of the 
               Registrant. . . . . . . . . . . . . . . . . . . 19
     Item 11.  Executive Compensation  . . . . . . . . . . . . 19
     Item 12.  Security Ownership of Certain Beneficial 
               Owners and Management . . . . . . . . . . . . . 19
     Item 13.  Certain Relationships and Related Transactions. 19

PART IV  . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
     Item 14.  Exhibits, Financial Statement Schedules and
               Reports on Form 8-K . . . . . . . . . . . . . . 20





<PAGE>


                                PART I

ITEM 1.   BUSINESS.

General

     Rawlings Sporting Goods Company, Inc., ("Rawlings" or the
"Company") is a leading supplier of team sports equipment in
North America and, through its licensee, of baseball equipment
and uniforms in Japan.  Under the Rawlings [Registered Trademark]
brand name, the Company provides an extensive line of equipment
and team uniforms for the sports of baseball, basketball and
football. Under the Vic, McMartin, Rawlings and Victoriaville
brand names, the Company provides an extensive line of equipment
for hockey.  The Company's products are sold through a variety of
distribution channels, including mass merchandisers, sporting
goods retailers and institutional sporting goods dealers.  The
Company has the exclusive right, for which it pays royalty fees,
to use the logos of certain sports organizations and events on
selected products, including the logos of the National and
American Leagues, All-Star Game and World Series games for
baseballs and the National Collegiate Athletic Association (the
"NCAA") for the sports of basketball and football.  In addition,
Rawlings' products are endorsed by more than 43 college coaches,
25 sports organizations and numerous athletes, including
approximately 165 Major League Baseball players.  These persons
or entities have entered into agreements with the Company under
which they are paid or provided products for endorsing Rawlings'
products or for permitting the Company to use their names or
logos.

     Rawlings was founded in 1887 and since then, the Company has
established a long-standing tradition of innovation in team
sports equipment and uniforms, including the development and
introduction of the first football shoulder pads in 1902, the
original deep pocket baseball glove in 1920 and double knit nylon
and cotton uniforms for Major League Baseball in 1970.  More
recently, the Company initiated sales of a new power forged
aluminum bat and a speed-sensing baseball in fiscal 1998.  Today,
Rawlings manufactures and distributes a broad array of team
sports equipment and products, including baseball gloves,
baseballs, baseball bats, batter's helmets, catcher's and
umpire's protective gear, basketballs, footballs, volleyballs,
soccer balls, football shoulder pads and other protective gear,
hockey sticks, hockey gloves, hockey protective and goalie gear,
team uniforms and various team sports accessories.  In addition,
licensees of the Company sell numerous products including
athletic shoes, retail active wear apparel, socks and golf
equipment, using the Rawlings [Registered Trademark]  brand name
and logo.

     Since 1977, the Company has been the exclusive supplier of
baseballs to the National and American Leagues, the All-Star Game
and the World Series games, with agreements expiring in 2000. In
1996, Rawlings extended its exclusive rights to the All-Star Game
and World Series games through 2000.  As part of this extension,
Rawlings has exclusive rights to the Divisional Playoffs and
League Championship Series and nonexclusive rights to vinyl
baseballs with Club logos and for the above outlined events. 
Since 1994, the Company has been the exclusive supplier of
baseballs to each of the 18 Minor Leagues with the agreement
expiring in 2000. The Company is the leading supplier of baseball
gloves to Major and Minor League players.



<PAGE>




     Since 1986, Rawlings has been the exclusive supplier of
basketballs for the NCAA Men's and Women's Division I, II and III
tournament championship games, including the Final Four with an
agreement expiring in 2002.  Since 1987, Rawlings has been the
exclusive supplier of footballs for the NCAA Division IAA, II and
III championship games with a contract expiring in 1999.  In
football, we are not continuing the NCAA endorsement but
reinvesting funds previously spent on the NCAA to support other
marketing programs and to enhance our on-field exposure including
ongoing endorsements with pro quarterbacks Steve Young and Brett
Favre.

     In September 1997, the Company acquired the net assets of
the Victoriaville (Vic) hockey business which includes the Vic,
Victoriaville and McMartin brands.  The Vic hockey business has
on ice exposure including sticks and protective gear with over
150 professional hockey players.

Products and Markets

     The following is a summary of net revenues by principal
product line for the three fiscal years ended August 31, 1998:

              Net Revenues by Principal Product Line
                      (Amounts in millions)
                           (Unaudited)

                                     Years Ended August 31,
                                   1998      1997      1996
Equipment:
     Baseball                      $94.0     $86.3     $93.8
     Basketball, football           34.4      29.7      25.3
          and volleyball
     Hockey                          8.6       0.7       0.9
Apparel                             20.7      16.9      14.7
Licensing                            5.9       6.5       6.9
Miscellaneous                        7.0       7.5       8.1
      Net revenues                $170.6    $147.6    $149.7




<PAGE>



     The following is a summary of net revenues by geographic
area for the three fiscal years ended August 31, 1998:

                 Net Revenues by Geographic Area
                      (Amounts in millions)
                           (Unaudited)

                                   Years Ended August 31,
                                    1998      1997      1996

     Domestic                      $155.1    $137.5    $139.2

     Foreign                         15.5      10.1      10.5

       Net revenues                $170.6    $147.6    $149.7


Equipment

     Baseball.  The Company is a leading supplier of baseball
equipment in North America and, through its licensee, in Japan. 
The Company's products in this area include baseball gloves,
baseballs, softballs, batter's helmets, catcher's and umpire's
protective equipment, aluminum and wood baseball bats, batter's
gloves and miscellaneous accessories.

     Rawlings believes it is the leading supplier and offers the
broadest selection of baseball gloves in North America.  The
Company offers more than 150 styles, which are often customized
to meet customer preferences.  Its gloves range in retail price
from $5.99 for beginners to more than $169.99 for the Heart of
the Hide [Registered Trademark] series, which are used by more
than half of the Major League Baseball players.  Rawlings
developed the original deep pocket glove in 1920.  The Company
designed this glove in consultation with Bill Doak, a spitball
throwing southpaw with the St. Louis Cardinals, establishing the
Company's tradition of developing innovative products in
consultation with players and coaches.  Rawlings has continued to
be a leader in baseball glove design and innovation and has
patented a number of designs, including the Trap-Eze [Registered
Trademark] pocket design featuring a modified web giving the
appearance of a six-finger glove, the Fastback [Registered
Trademark] closed back design, the Basket-Web [Registered
Trademark] pocket design which features interwoven strips forming
a natural break on the back to assist in closing the glove and
the Pad Lock design which uses an adjustable inner cushion pad
and velcro wrist strap to stabilize the hand inside the glove.

     Rawlings believes it is the leading supplier of baseballs in
North America.  It offers 14 types of baseballs, which differ by
their design and the materials used in their construction,
including different types of centers, winding materials and
covers which can be made of rubber, vinyl or different qualities
of leather.  Rawlings' baseballs range from lower-priced rubber
balls <PAGE> to the professional baseballs that are sold to National and
American League teams.  Rawlings' baseballs are systematically
weighed, measured, tested and inspected to ensure that they meet
Rawlings' quality standards.  The National League, American
League, All-Star and World Series baseballs are covered with
alum-tanned leather produced at Rawlings' leather tannery in
Tullahoma, Tennessee and hand-sewn at Rawlings' manufacturing
facility in Turrialba, Costa Rica.  The Company manufactures its
professional baseballs in strict accordance with the rigorous
specifications established by Major League Baseball to ensure
comparability of players' statistics over time.

     Since 1977, Rawlings has sold the official baseballs used in
all National and American League games and has furnished the
official baseballs for the All-Star Game and the World Series
games on an exclusive basis.  As the official baseball of the
Major Leagues, Rawlings' baseballs are purchased by consumers in
the collectors' and memorabilia market.  The value of an
autographed baseball is enhanced if it is an official National or
American League baseball.  Rawlings also has nonexclusive rights
to vinyl baseballs with Club logos.  Effective in 1994, Rawlings
received the exclusive right to sell the official baseball to all
of the Minor League teams.  Rawlings also sells an official
baseball, in certain cases on an exclusive basis, to a number of
leagues including the National Junior College Athletic
Association, the National Association of Intercollegiate
Athletics, the Men's Senior Baseball League, Little League
Baseball and a number of international baseball organizations.

     In 1998, the Company introduced a speed-sensing baseball
(the radar ball) with baseballs that measure speed from the Major
League and Little League distances of 60 feet 6 inches and
46 feet, respectively.  The radar ball was named New Product of
the Year by the Sporting Goods Manufacturers Association.

     Rawlings believes that it is the leading supplier of
baseball protective equipment in North America.  In 1998, the
Company introduced the Lobster  leg guards, which provide greater
flexibility in movement for catchers using this product.  In
1996, the Company introduced the pony tail batter's helmet for
women.  In 1995, the Company introduced a one size fits all
batter's helmet that received the award for most innovative
product design at the 1995 National Sporting Goods Association
trade show.

     Rawlings believes that it is the second leading supplier of
wood baseball bats sold in North America.  The Company sells bats
to a number of Major League and Minor League teams including
substantially all of the wood baseball bats used by Mark McGwire. 
The Rawlings' line of wood bats is manufactured at its
Dolgeville, New York facility under the Rawlings [Registered
Trademark] and Adirondack [Registered Trademark] names.  The
Company also maintains a line of aluminum baseball and softball
bats that use an innovative technology which was introduced in
fiscal 1998.  In fiscal 1998, we recorded a charge to account for
a discontinued line:  2 3/4 inch adult aluminum baseball bats,
which we stopped selling in order to support the NCAA's new
rules, restricting the diameter of the bat barrel.



<PAGE> 



Basketball and Football

     Rawlings sells 20 different types of basketballs, including
full-grain, composite and synthetic leather and rubber
basketballs for men and women in both the youth and adult
markets.  Since 1986, Rawlings has been the exclusive supplier of
basketballs for the NCAA Men's and Women's Division I, II and III
championship games (including the Final Four).  The basketball
contract with the NCAA expires in 2002.  The Company is also the
official supplier of basketballs to the National Association of
Intercollegiate Athletics.

     Rawlings sells 22 different types of footballs, including
full-grain and split leather, vinyl and rubber for both the youth
and adult markets.  In addition, the Company sells professional
and college football shoulder pads, other protective gear (other
than football helmets) and accessories.  Since 1987, Rawlings has
been the exclusive supplier of footballs to the NCAA Division
IAA, II and III championship games.  The football contract with
the NCAA expires in 1999.  Rawlings also supplies the official
football to the National Association of Intercollegiate
Athletics.  See page two for discussion of the nonrenewal of the
NCAA football contract.

Hockey

     In September 1997, the Company acquired the net assets of
the Vic hockey business which includes the Vic, Victoriaville and
McMartin brands.  Vic's major products include hockey sticks,
hockey protective equipment and goalie protective equipment.  The
Company is planning the introduction of a hockey helmet during
fiscal 1999.  The acquisition of the Vic hockey business has
significantly increased the size of the Company's hockey
business.

Apparel

     Rawlings has been selling team uniforms for approximately
100 years.  Several Major League Baseball teams and players
purchase their uniforms from the Company.  Apparel comprised
12.2% of the net revenues of the Company in the year ended August
31, 1998.  The Company believes it has growth opportunities
related to apparel.  The Company plans to increase sales to
institutional customers, particularly high school, collegiate and
amateur sports organizations.  Through the reorganization of its
manufacturing capabilities underway at its apparel facility in
Licking, Missouri and the relocation of production of certain
stock products to Costa Rica, the Company hopes to improve its
service and delivery, while reducing costs.  In 1997, the Company
completed a 21,000 square foot expansion of its Costa Rica
facility in order to expand its stock clothing capacity.  This
expansion is expected to result in further cost reduction and
margin improvement in stock apparel.



<PAGE> 



Licensing

     In the year ended August 31, 1998, the Company generated
$5.9 million of licensing revenues on approximately $140 million
of sales made by third parties in Japan and the United States of
products on which the Rawlings [Registered Trademark] brand name
appeared under licensing agreements with the Company.  Rawlings
has licensed the use of its brand name since the mid-1970s when
it licensed a Japanese company to use the Rawlings [Registered
Trademark] brand name on clothing sold in Japan.  Since then,
Rawlings has licensed its name to ASICS Corporation, a leading
Japanese sporting goods company, for use on all types of baseball
equipment, team uniforms and practice clothing sold in Japan. 
The Company also licenses to another Japanese company the use of
the Rawlings [Registered Trademark] brand name on retail active
wear sold in Japan.

     In the United States, Rawlings currently has licensing
agreements with 13 companies which are using the Rawlings
[Registered Trademark] brand name on various products including
sportswear, shoes, golf clubs and accessories, sports bags, socks
and infant and toddler games.  The Company retains the right
under its licensing agreements to sample and inspect all licensed
products to ensure that products bearing the Rawlings [Registered
Trademark] brand name meet the Company's quality standards.  The
Company intends to continue to license the Rawlings [Registered
Trademark] brand name to strategically extend the name to other
related quality products and to new geographic areas.  The
Company believes that such strategic licensing will enhance the
Company's image, consumer recognition and sales of all of its
products.

Miscellaneous

     Rawlings derives other net revenues from its three outlet
stores and from its leather tanning facility.  The outlet stores
sell seconds, irregular quality and discontinued items. 
Approximately 60% of the items sold at the Company's outlet
stores are Rawlings' products and the balance are sports-related
products purchased from third parties.  Approximately 40% of the
leather tanned at Rawlings' tanning facility is sold to third
parties for use in a variety of products.

Foreign

     The Company's foreign net revenues constituted approximately
9.1% of its total net revenues in the year ended August 31, 1998. 
Rawlings currently distributes its products in more than 39
countries primarily through independent distributors.  Of the
Company's foreign net revenues in the year ended August 31, 1998,
approximately $9.7 million came from direct sales in Canada.

     The Company works closely with foreign sports organizations
to build participation levels in American team sports outside of
the U.S.  The Company supplies baseball, basketball and football
equipment and team uniforms to international sports
organizations, and to leagues in a number of foreign countries
including those where Rawlings supplies baseballs (Argentina,
Australia, Spain and Puerto Rico), basketballs (Czech Republic,
Germany, Italy and Puerto <PAGE> Rico).  Rawlings also assists sports
federations outside the U.S. by advising them on growth
strategies and, in certain instances, participating on the boards
of such federations.  Due to the growing international popularity
of American team sports, the Company believes that opportunities
exist to increase its foreign net revenues.

Sales, Marketing and Distribution

     Rawlings' products are sold worldwide.  In the United
States, Rawlings sells directly to approximately 4,400 customers
including local sporting goods stores, institutional dealers
(entities that service the sports equipment needs of high school,
collegiate and amateur sports organizations), regional sporting
goods chains (such as Dick's and Modell's), national sporting
goods chains (such as Champs), sporting goods megastores (such as
Sports Authority and Jumbo Sports) and mass merchandisers (such
as Wal-Mart and K-Mart).  In recent years, sales to sporting
goods megastores and mass merchandisers have accounted for an
increasing amount of the net revenues of Rawlings.  Sales to the
ten largest customers of Rawlings constituted approximately 32%
of the total net revenues of Rawlings in the year ended August
31, 1998 including one customer (Wal-Mart) which accounted for
approximately 12% of 1998 net revenues.

     The Company has 43 direct sales employees and 8
manufacturers' representatives who sell its products in the
United States.  The Company has two separate sales forces, one to
serve national accounts and one to service institutional dealers
and local sporting goods stores.  Sales in Canada are handled by
24 manufacturers' representatives.  In addition, three employees
service professional and college teams, coaches and athletes. 
The Company primarily utilizes distributors to sell products
overseas, except in Japan, which is covered by licensing
agreements.  Rawlings' products are distributed from its
warehouses in Springfield, Licking and Ava, Missouri; Dolgeville,
New York; Daveluyville, Quebec, Canada; and public warehouses in
Southern California and Ontario, Canada.

     The Company utilizes a variety of promotional techniques to
build brand awareness.  Since 1958, Rawlings has annually
presented the Rawlings Gold Glove Award [Registered Trademark] to
the best fielder at each position in each of the National and
American Leagues.  The Rawlings Gold Glove Award [Registered
Trademark] is the most prestigious award a baseball player can
receive for his fielding abilities.  In addition, Rawlings
promotes its products through the Rawlings Sports Caravan and
Rawlings Dugout.  The Rawlings Sports Caravan is comprised of a
tandem tractor trailer containing exhibits on the evolution of
baseball, basketball and football equipment and uniforms, and a
workshop in which demonstrations on the manufacture and repair of
baseball gloves, balls and bats are performed.  The Rawlings
Sports Caravan is available to the Company's retail customers for
promotional activities such as new store openings.  In addition,
the Caravan appears at sports events such as spring training,
opening day games, the All-Star Game, the World Series games and
the Baseball Hall of Fame induction ceremony.  The Rawlings
Dugout, added in 1998, is a trailer replica of a dugout that is
pulled by a Hummer.  The replica dugout is an interactive display
which travels across the country to make special appearances at
softball <PAGE> tournaments, youth league ballparks and similar venues. 
The Company also promotes its products through product
endorsements by numerous professional athletes, coaches and
sports organizations.  The Company makes available to retailers
various co-op advertising programs and participates in selected
joint marketing and advertising programs.

     In November 1997 the Company entered into a five-year
strategic marketing alliance with Host Communication, Inc. (HCI),
a sports marketing company.  Under this agreement, Rawlings and
HCI will jointly market and sell Rawlings' products primarily
through corporate promotions and grassroots events.

Affiliations and Endorsements

     Rawlings has the right to use the logos of several
professional and amateur sports organizations and events on
certain of its products.  These arrangements include:  The
National League of Professional Baseball Clubs (National League
games); The American League of Professional Baseball Clubs
(American League games); Major League Baseball Promotional
Corporation (All-Star, World Series, Divisional Playoffs and
League Championship Series games); the NCAA (basketball and
football championships and Final Four games); the 18 Minor
Leagues (Minor League games); the National Association of
Intercollegiate Athletics; the National Junior College Athletic
Association and the Men's Senior Baseball League.

     In addition, the Company's baseball products are endorsed by
numerous athletes, including approximately 165 Major League
Baseball players such as Ken Griffey Jr., Randy Johnson, Mark
McGwire, Cal Ripken Jr. and Sammy Sosa.  The Company's basketball
products carry endorsements from approximately 43 college coaches
including basketball's Denny Crum, Lute Olson, Nolan Richardson
and Marian Washington.  The Company's football products are
endorsed by Brett Favre of the Green Bay Packers and Steve Young
of the San Francisco 49ers.  The products related to the Vic
hockey business are endorsed by over 150 professional hockey
players such as Zigmund Palffy, Jeff Hackett and Rod Brind'amour.

     The Company believes that endorsements by professional
athletes and college coaches and affiliations with sports
organizations enhance the Company's image and improve sales of
its products.  The Company's strategy is to obtain a broad array
of endorsements and affiliations from national and regional
sports organizations, college coaches and professional athletes
in order to position its products to appeal to regional customer
preferences, as well as to achieve national recognition.  The
Company believes this strategy is more effective than seeking
more expensive endorsements from fewer athletes and coaches.

     The licensing agreements with Major League Baseball
Promotional Corporation and the 18 Minor Leagues, under which
Rawlings is licensed to produce the baseballs used in the
All-Star, World Series, Divisional Playoffs and League
Championship Series games, the official baseballs for the Minor
League games and the NCAA basketball and football contracts,
provide that the agreements will be subject to termination upon a
change of control of Rawlings, as <PAGE> defined in the agreements,
unless the change of control is approved by the Major League
Baseball Promotional Corporation, the Minor Leagues or the NCAA.

Manufacturing, Product Procurement and Raw Materials

     Products manufactured in Rawlings' eight plants constituted
approximately 32% of its net revenues in the year ended August
31, 1998 and the balance was derived from the sale of products
manufactured by third parties in Asia and Latin America and from
licensing fees.  The third party sourced products are
manufactured according to the Company's specifications by
third-party manufacturers located outside the United States,
including the Philippines, China, Thailand, Taiwan, Korea,
Indonesia, Mexico and Guatemala.  Each of five suppliers, Trion
Corporation, Cortina International, Inc., Samyang Tongsang
Company Limited, Topball Trading Co., Ltd. and Tayang Sporting
Goods Co., Ltd., account for more than 10% of the Company's raw
material and finished goods purchases.  The Company does not
maintain formal supply contracts with these suppliers.  The
Company seeks to establish and build close working relationships
with its third-party manufacturers that emphasize service,
quality, reliability, loyalty and commitment.  The Company
continually monitors its sourced products to ensure they meet the
Company's quality standards.  The Company's arrangements with its
non U.S. suppliers are subject to the risks of doing business
abroad.  The Company believes that the loss of any one or more of
its non U.S. manufacturers would not have a material adverse
effect on the Company's business and results of operations
because other manufacturers are available to fulfill the
Company's requirements.

     Rawlings operates eight manufacturing facilities in the
United States, Canada and Costa Rica where it makes baseballs,
apparel, baseball gloves, footballs, injection molded
accessories, tanned leather, wood baseball bats, hockey sticks,
gloves and pants.  In 1994 the Company began relocating
production of stock apparel to its Costa Rica factory to reduce
operating costs.  In 1997, the Company completed an expansion of
capacity of its Costa Rica facility for additional stock apparel
manufacturing.  The increased off-shore production will help the
Company reduce costs over the next few years in the apparel
product category.

     Rawlings obtains its raw materials from various sources
which it considers to be adequate for fulfilling its
requirements.  To assure access to the highest quality leather
for its baseballs, the Company acquired its Tennessee leather
tanning facility in 1985.  The Company depends upon a limited
number of vendors for leather for its Heart of the Hide
[Registered Trademark] baseball gloves and full-grain footballs. 
If any of these sources of raw materials were unavailable to the
Company, the Company's operations could be adversely affected
until alternative sources were found in the necessary quantities.

Trademarks and Patents

     The Rawlings [Registered Trademark] brand name and logo and
the red "R" [Registered Trademark] logo as well as a number of
product trademarks, including Finest in the Field [Registered
Trademark], Rawlings Gold Glove Award [Registered Trademark] and
The Mark <PAGE> of a Pro [Registered Trademark], are protected
trademarks in various countries.  As of August 31, 1998, Rawlings
held 34 U.S. and 6 non U.S. patents, and had 5 U.S. patent
applications and 3 non U.S. patent applications pending. 
Although Rawlings believes that collectively its patents are
important to its business, the loss of any one patent would not
have a material adverse effect on the Company's business and
results of operations.

Competition

     Rawlings competes with numerous national and international
companies which manufacture and distribute broad lines of
sporting goods and related equipment and sports clothing as well
as numerous manufacturers and suppliers of a limited variety of
such products.  Certain of the Company's competitors offer sports
equipment not sold by the Company.  Some of the Company's
competitors are larger, and have substantially greater financial
and other resources, than Rawlings.  The Company's principal
competitors include Wilson Sporting Goods Company (a wholly owned
subsidiary of Amer Group Ltd.), Diamond Baseball Company, the
Spalding Division of Spalding & Evenflo Companies, Inc. and
Mizuno Company Limited in the baseball product line; Wilson
Sporting Goods Company, the Spalding Division of Spalding &
Evenflo Companies, Inc. and Riddell Sports Inc. in the basketball
and football lines; and Russell Corporation and Wilson Sporting
Goods Company in the apparel line.  While Rawlings is one of the
leading manufacturers and distributors of team sports equipment
in North America, competition in the sporting goods industry is
intense and is based upon quality, price, product features and
brand recognition.  In addition, the competitive barriers to
entry into the sporting goods industry in general are not
significant.

Seasonality

     Information on seasonality is incorporated by reference from
the Management Discussion and Analysis Section on pages 18 and 19
of the Company's 1998 Annual Report to Stockholders.

Employees

     As of August 31, 1998, Rawlings employed approximately 1,537
people on a full-time basis, of whom 721 were based in the United
States; 123 in Canada and 693 were based in Costa Rica.  Of the
total number of employees, approximately 1,350 were engaged in
manufacturing, 136 were engaged in marketing and sales and 51
were engaged in administration.  Approximately 364 of Rawlings'
domestic employees are represented by the Amalgamated Clothing &
Textile Workers Union AFL-CIO-CLC or the Local 682 of the
International Brotherhood of Teamsters, Chauffeurs, Warehousemen
and Helpers of America, under collective bargaining agreements
which expire in November 1999 and February 2000, respectively. 
Rawlings believes that relations with its employees are good and
that the collective bargaining agreements will be extended
without material changes from the current contract.



<PAGE> 



YEAR 2000 ISSUES

     The Company has initiated a comprehensive program to replace
its computer systems and applications with a Year 2000 compliant
enterprise-wide system.  The assessment phase of the Company's
system migrations is complete and the systems testing and
implementation stages are in progress. To date, a majority of the
Company's locations and processes have been successfully migrated
to the new system with completion expected by June 1999.  The
Company has incurred capital expenditures, including hardware,
software, outside consultants and other expenses, of
approximately $2.5 million on its new enterprise-wide system and
expects that full implementation of the system will require an
additional $500,000 over the next year.  In addition, the Company
incurred approximately $300,000 in software selection and
training costs that were expensed during fiscal 1998 and fiscal
1997.

     The Company has formally communicated with its major vendors
and suppliers to determine the extent to which the Company may be
vulnerable to those third parties' failure to remediate their own
Year 2000 issues.  The first phase, which included sending Year
2000 surveys and questionnaires to customers and vendors is
complete and the response evaluation phase is currently in
progress.  The Company has not had sufficient response from
vendors to provide an estimate of the potential impact of
non-compliance on the part of such vendors.  Management is
currently developing contingency plans which include, but are not
limited to, evaluating alternative vendors who are Year 2000
compliant and evaluating inventory management plans.  It is too
early to determine to what extent, if any, these contingency
plans will have to be implemented.  Although the Company expects
to be Year 2000 compliant by mid-1999 and does not expect to be
materially impacted by the external environment, such future
events cannot be known with certainty.  Furthermore, the
Company's estimates of future migration costs and completion
dates are based on presently available information and will be
updated, as additional information becomes available.

CAUTIONARY FACTORS THAT MAY AFFECT FUTURE RESULTS, FINANCIAL
CONDITION OR BUSINESS

     In order to take advantage of the safe harbor provisions for
forward-looking statements adopted by the Private Securities
Litigation Reform Act of 1995, the Company is hereby identifying
important risks, uncertainties and other factors that could
affect the Company's actual results of operations, financial
condition or business and could cause the Company's  actual
results of operations, financial condition or business to differ
materially from its historical results of operations, financial
condition or business, or the results of operations, financial
condition or business contemplated by forward-looking statements
made herein or elsewhere orally or in writing, by, or on behalf
of, the Company.  Except for the historical information contained
herein, the statements made in this Report on Form 10-K are
forward-looking statements that involve such risks, uncertainties
and other factors that could cause or contribute to such
differences including, but not limited to, those described below.


<PAGE> 




     Dependence on Baseball.  Sales of baseball-related products
constituted approximately 55% of the total net revenues of
Rawlings in the year ended August 31, 1998.  Adverse publicity or
news coverage regarding professional or amateur baseball, strikes
or other stoppages in play by athletes or umpires could create
fan disaffection that could have a material adverse effect on the
Company's sales.  Similarly, poor weather conditions during the
baseball season could have a material adverse effect on the
Company's sales.

     Dependence on Foreign Manufacturing.  The Company's
dependence on foreign manufacturing is described above under
"Manufacturing, Product Procurement and Raw Materials" which is
subject to the risks of doing business abroad, such as changes in
import duties, trade restrictions, work stoppages, labor laws,
political instability, foreign currency fluctuations and other
factors which could have a material adverse effect on the
Company's business and results of operations.

     Seasonality.  Customers generally place orders with the
Company for baseball-related products beginning in August for
shipment beginning in November (pre-season orders).  Because the
Company's sales of baseball-related products exceed those of its
other products, Rawlings' business is seasonal, with its highest
net revenues and profitability recognized between November 1 and
March 31, which may shift in the future due to the trends
discussed in "Management's Discussion and Analysis of Results of
Operations and Financial Condition -- Seasonality."

     Reliance on Certain Customers.  Sales to the ten largest
customers of Rawlings constituted approximately 32% of the total
net revenues of Rawlings in the year ended August 31, 1998,
including one customer, Wal-Mart, which accounted for
approximately 12% of 1998 net revenues.  Although the Company has
long-established relationships with many of its customers, the
Company does not have long-term supply contracts with them.  A
decrease in business from any of its major customers could have a
material adverse effect on the Company's results of operations
and financial condition.

     Litigation.  Like similar manufacturing companies, the
Company is subject to various federal, state and local
environmental laws relating to air emissions, water discharges
and the storage, handling, disposal and remediation of petroleum
and hazardous substances.  In addition, the Company is
periodically subjected to product liability claims and
proceedings involving its patents and other legal proceedings
which have not historically had a material adverse effect on the
Company.  See "Legal Proceedings."

     Credit Agreement Restrictions.  The Company's Credit
Agreement with its existing lenders contains certain restrictions
on the Company, including requirements as to the maintenance of
net worth and certain financial ratios, payment of cash
dividends, incurrence of additional indebtedness and the
limitation of capital expenditures and there can be no assurance
that the Company will be able to achieve and maintain compliance
with those restrictions or obtain waivers to any non-compliance. 
See "Management's Discussion and Analysis of Results of
Operations and Financial Condition -- Liquidity and Capital
Resources."


<PAGE> 




     Additional Factors.  Additional risks and uncertainties that
may affect future results of operations, financial condition or
business of the Company include, but are not limited to:  (i)
interest in collectible sports memorabilia and the financial
condition of memorabilia resellers; (ii) demand for the Company's
products, (iii) the effect of economic and industry conditions on
prices for the Company's products and its cost structure; (iv)
negative reports by brokerage firms, industry and financial
analysts regarding the Company or its products which may have the
effect of reducing the reputation, goodwill or customer demand
for, or confidence in, the Company's products; and (v) the
ability to attract and retain capital for growth and operations
on competitive terms.

EXECUTIVE OFFICERS OF THE REGISTRANT

     NAME                AGE            POSITION
Stephen M. O'Hara        43        Chairman of the Board and
                                   Chief Executive Officer
Howard B. Keene          56        President and Chief Operating
                                   Officer
Paul E. Martin           38        Chief Financial Officer
Stan W. Morrison         47        Vice President, Sales and
                                   Marketing
Ted C. Sizemore          53        Vice President, Baseball
                                   Development and International
                                   Sales
J. Michael Thompson      41        Vice President, Sales
Jonathan C. Hodgins      34        President, Hockey Division

     Stephen M. O'Hara has served as Chairman of the Board and
Chief Executive Officer since November 1998.  From November 1994
until August 1998, Mr. O'Hara served as President of Specialty
Catalog Corporation (SC), a public company, which is a direct
marketer of wigs and hairpieces with $42 million in net revenues. 
From November 1991 through November 1994, Mr. O'Hara was
President of SC's largest subsidiary, Wigs by Paula, Inc.,
including the period of time when SC and its subsidiaries were in
Chapter 11.  Prior to 1991, Mr. O'Hara held various marketing
positions at consumer product companies including Procter &
Gamble, Kraft General Foods and CML Group.  Mr. O'Hara has a MBA
degree from the Harvard Graduate School of Business and an AB
degree from Harvard College.

     Howard B. Keene has served as President since October 1997. 
From October 1997 to October 1998, Mr. Keene served as interim
Chief Executive Officer and President.  From April 1995 to
October 1997 Mr. Keene served as Chief Operating Officer.  From
November 1992 to March 1995, Mr. Keene served as Vice President,
Foreign Activity and Procurement of <PAGE> Rawlings.  From February 1990
to November 1992, Mr. Keene served as International Purchasing
Consultant for all divisions of Figgie International, Inc.  He
was President of Rawlings from 1987 to February 1990.  From 1973
to 1987, Mr. Keene held various positions at Rawlings, primarily
in product procurement.

     Paul E. Martin has served as Chief Financial Officer of the
Company since June 1995.  From February 1993 to May 1995, Mr.
Martin served as Director of External Reporting and Analysis for
Pet Incorporated, a public company that manufactured prepared
foods with $1.5 billion in revenues.  From January 1992 to
January 1993, Mr. Martin served as Chief Financial Officer of
CPC-Rexcel, Inc., a public company that manufactured packaging
materials with $50 million in revenues.  From 1982 to 1991, Mr.
Martin was employed in progressively responsible positions,
including Senior Audit Manager, by Arthur Andersen LLP.

     Stan W. Morrison has served as Vice President, Sales and
Marketing of Rawlings since September 1998.  From April 1998 to
September 1998, Mr. Morrison served as a consultant to a number
of companies in the sporting goods industry.  From 1993 to 1998,
Mr. Morrison served as President of Legends Athletic, a $22
million sports apparel company.  From 1985 to 1993, Mr. Morrison
served as Senior Vice President of Sales and Marketing for
Swingster, a $180 million sports apparel company.

     Ted C. Sizemore has served as Vice President, Baseball
Development and International Sales of Rawlings since 1984, with
primary responsibility for maintaining and strengthening the
Company's relationship with sports organizations, players and
coaches.  Prior to 1984, Mr. Sizemore was a Major League Baseball
player who played second base for a number of teams, including
the Los Angeles Dodgers, the St. Louis Cardinals and the
Philadelphia Phillies.  Mr. Sizemore received Rookie of the Year
honors with the Los Angeles Dodgers in 1969.

     J. Michael Thompson has served as Vice President, Sales of
Rawlings since July 1994.  Mr. Thompson joined Rawlings in 1984
as a sales representative and was promoted in 1989 to western
regional sales manager.

     Jonathan C. Hodgins has served as President, Hockey Division
since September 1997.  From September 1996 until joining the
Company, Mr. Hodgins served as President and Chief Executive
Officer of USA Skate, Inc., the previous owner of the hockey
business.  From 1990 to 1996 Mr. Hodgins was employed by
CCM/Sports Maska, Inc. in various management and executive
capacities.  From 1986 to 1990 Mr. Hodgins was employed by
Canstar Sports Group in product management.

ITEM 2.   PROPERTIES 2.  Properties.

     The following table sets forth certain information as of
August 31, 1998 relating to Rawlings' principal properties:


<PAGE> 



                                   Approximate         Owned or
Location       Purpose/Products    Size (sq. ft.)      Leased

Ava, Missouri  Manufacturing of         90,000         Leased
(two adjoining baseball gloves,         60,000         Leased
facilities)    batter's helmets,   
               footballs and       
               injection molded    
               accessories         

Daveluyville,  Manufacturing of         74,000         Owned
Quebec         hockey sticks  
Canada         

Dolgeville,    Manufacturing of wood    80,500         Owned
New York       baseball bats
(three         
properties)

Fenton,        Corporate headquarters   25,000         Leased
Missouri

Licking,       
Missouri       Manufacturing of         55,400         Owned
(two           apparel                  55,000         Leased
facilities)                                            

London,        Manufacturing of         5,000          Leased
Ontario        goaltending equipment
Canada                   

Montreal,      Manufacturing of         9,600          Leased
Quebec         hockey protective
Canada         

Springfield,   Warehouse/               83,500         Owned
Missouri       distribution center      

Tullahoma,     Leather tanning          69,000         Owned
Tennessee      

Turrialba,     Manufacturing of         54,000         Owned
Costa Rica     baseballs and apparel

     In addition, Rawlings leases approximately 5,600 square feet
of office space in Fenton, Missouri for research and development
activities and an average of 5,000 square feet for each of its
three outlet stores.  Rawlings also leases space for six regional
sales offices.

     The Company believes that its facilities are suitable for
their present and intended purposes and adequate for the
Company's current and expected levels of operations.




<PAGE> 



ITEM 3.   LEGAL PROCEEDINGS.

Environmental Matters

     Like similar manufacturing companies, the Company is subject
to various federal, state and local environmental laws, including
those relating to air emissions, water discharges, and the
storage, handling, disposal and remediation of petroleum and
hazardous substances.  The Company is not currently identified as
a potentially responsible party under the federal Superfund law
or comparable state laws at any of its properties or in
connection with its shipments of waste from any of its facilities
to off-site disposal locations.

     The Company has been conducting environmental investigation
and remediation activities at its Dolgeville, New York facility
(the "Site") with respect to the release of wood pitch into
surrounding soil and surface water.  In November 1997, the
Company entered into a Voluntary Agreement with the New York
State Department of Environmental Conservation (the "NYSDEC") to
conduct certain environmental remediation activities related to
the presence of wood pitch in the soils at the Site.  The wood
pitch was generated as a result of the operation, before
Rawlings' ownership of the Site, of a retort facility by a third
party unrelated to Rawlings. In December 1997, an environmental
consulting firm retained by Rawlings initiated remediation
activities under the oversight of the NYSDEC.  In conducting the
remediation activities under the Voluntary Agreement, it was
discovered that the actual volume of wood pitch substantially
exceeded the amount originally estimated by the environmental
consulting firm.  Some of the unanticipated, additional wood
pitch has been remediated in accordance with the requirements of
the Voluntary Agreement.  The Company believes that a portion of
the unanticipated, additional volume of wood pitch remaining at
the Site may be outside the scope of the current Voluntary
Agreement.  Nevertheless, the Company expects to be required to
address such additional wood pitch through an amendment to the
Voluntary Agreement.  In May 1998, the Company's environmental
consultants completed an investigation of the amount of the
additional wood pitch at the Site.  Based upon the report
received from the environmental consultants and the Company's
historical experience with environmental matters at this Site,
the Company recorded a $975,000 charge in 1998 to remediate the
additional unanticipated wood pitch, which is reflected in
unusual charges in the accompanying consolidated statement of
income for fiscal 1998.  In the year ended December 31, 1993, the
Company recorded a charge of $1,559,000, which included the
estimated clean up costs at this site.  The Company's reserve for
remediation costs as of August 31, 1998 was $1,082,000.  In
management's view, this amount is adequate to cover the expected
remediation activities at the wood pitch Site.

     In June 1998, the Company filed an action in the Northern
District of New York against Trident Rowan Group, Inc. (Trident
Rowan), which the Company believes is the successor to the entity
which owned the wood pitch Site during the period in which the
wood pitch contamination occurred.  The Company believes that the
case against Trident Rowan is strong and all or a portion of the
clean up costs associated with the wood pitch at the Site may be
recoverable.  However, due to the uncertainty associated with
this matter, no receivable associated with a <PAGE> potential recovery
has been recorded at this time and there can be no assurance that
any amount will be recovered.

Litigation and Other Liabilities

     The nature of the Company's products has subjected it to
product liability claims from time to time which have not had a
material adverse effect on the Company.  In addition, the Company
is from time to time subject to proceedings involving its patents
which have not had a material adverse effect on the Company.  The
Company expects that it will be subject to product liability
claims and proceedings involving its patents in the future due to
the nature of its products.  The Company did not assume any
litigation or product liability of the Rawlings' business
relating to incidents that occurred prior to July 8, 1994.  A
possibility exists, however, that the Company could be liable for
liabilities of the Rawlings' business not assumed by the Company
in the July 8, 1994 net asset transfer under a theory of
successor liability.  While the former parent has agreed to
indemnify the Company for such liabilities, as well as certain
other obligations that relate to the assets and liabilities of
the Rawlings' business, there can be no assurance that the former
parent will be able to fulfill these indemnification obligations
to the Company if required to do so.

     The Company intends to vigorously defend all product
liability matters.  The Company believes that these matters will
not have a material adverse effect on the Company's financial
condition, results of operations or cash flow.

ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

     There were no matters submitted to a vote of security
holders through the solicitation of proxies or otherwise during
the quarter ended August 31, 1998.


                            PART IIII

ITEM 5.   MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED
          STOCKHOLDER MATTERS.

     The information regarding the market for the Company's
common stock, quarterly market price ranges, dividends declared
and shareholders of record is incorporated by reference from page
33 of the Company's 1998 Annual Report to Stockholders.

     In November 1997 the Company issued warrants to purchase
925,804 shares of common stock at $12.00 per share to Bull Run
Corporation for $3.07 per warrant.  The warrants expire in
November 2001 and are exercisable only if the Company's common
stock closes above $16.50 for twenty consecutive trading days.



<PAGE> 



     The information regarding dividend restrictions is
incorporated by reference from page 30 of the Company's 1998
Annual Report to Stockholders.

ITEM 6.   SELECTED FINANCIAL DATA.

     The information required by Item 6 is incorporated by
reference from the Selected Financial Data Section on page 16 of
the Company's 1998 Annual Report to Stockholders.

ITEM 7.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
          CONDITION AND RESULTS OF OPERATIONS.

     The information required by Item 7 is incorporated by
reference from the Management Discussion and Analysis Section on
pages 17 to 21 of the Company's 1998 Annual Report to
Stockholders.

ITEM 8.   FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

     The information required by Item 8 is incorporated by
reference from the "Consolidated Statements of Income,"
"Consolidated Balance Sheets," "Consolidated Statements of
Stockholders' Equity," "Consolidated Statements of Cash Flows,"
"Notes to Consolidated Financial Statements" and "Report of
Independent Public Accountants" on pages 22 to 32 of the
Company's 1998 Annual Report to Stockholders.

ITEM 9.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
          ACCOUNTING AND FINANCIAL DISCLOSURE

     None.




<PAGE> 



                           PART III

ITEM 10.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT.

     (a)  Identification of Directors

     Information with respect to the members of the Board of
Directors is set forth under the caption "Election of Directors"
in the Company's proxy statement to be filed pursuant to
Regulation 14A, which information is incorporated herein by
reference.

     (b)  Identification of Executive Officers

     Information with respect to the executive officers of the
Company is set forth under the caption "Executive Officers of the
Registrant" contained in Part I, Item 1 of this report, which
information is incorporated herein by reference.

ITEM 11.  EXECUTIVE COMPENSATION.

     Information required by Item 11 is set forth under the
captions "Compensation of Directors" and "Executive Compensation"
in the Company's proxy statement to be filed pursuant to
Regulation 14A, which information is incorporated herein by
reference.

ITEM 12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
          MANAGEMENT.

     Information required by Item 12 is set forth under the
captions "Principal Stockholders" and "Stock Ownership of
Directors, the Nominees for Directors and Executive Officers" in
the Company's proxy Statement to be filed pursuant to Regulation
14A, which information is incorporated herein by reference.

ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

     Information required by this Item is set forth under the
caption "Certain Transactions" in the Company's proxy statement
to be filed pursuant to Regulation 14A, and page 32 of the
Company's 1998 Annual Report to Stockholders, which information
is incorporated herein by reference.




<PAGE> 




                             PART IV

ITEM 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON
          FORM 8-K.

     (a) (1)   Financial Statements: The financial statements
               filed as a part of this report are listed in Part
               II, Item 8.

     (a) (2)   Financial Statement Schedules: None.

     (a) (3) Exhibits

          2.1       Asset Purchase Agreement, dated September 10,
                    1997 among Les Equipments Sportif Davtec,
                    Inc. USA Skate Corporation, California Pro
                    Sports, Inc., Rawlings Canada, Inc. and the
                    Company, included as Exhibit 2.1 to the
                    Company's Form 8-K filed on October 21, 1997
                    is hereby incorporated herein by reference.

          3.1       Certificate of Incorporation, included as
                    Exhibit 3.1 to the Company's Registration
                    Statement on Form S-1 (File No. 33-77906), is
                    hereby incorporated herein by reference.

          3.2       By-Laws, included as Exhibit 3.2 to the
                    Company's Registration Statement on Form S-1
                    (File No. 33-77906), is hereby incorporated
                    herein by reference.

          3.3       By-Law amendment included as exhibit 3.3 to
                    the Company's Form 10-K for the fiscal year
                    ended August 31, 1996, is hereby incorporated
                    herein by reference.

          4.1       Rights Agreement dated as of July 1, 1994
                    between the Company and Boatmen's Trust
                    Company as Rights Agent, included as Exhibit
                    4.1 to the Company's Form 10-Q for the
                    quarter ended June 30, 1994, is hereby
                    incorporated herein by reference.

          4.2       Amendment of Rights Agreement dated November
                    21, 1997 between the Company, Boatmen's Trust
                    Company and ChaseMellon Shareholder Services,
                    Inc., included as Exhibit 4.2 to the
                    Company's Form 8-K dated November 21, 1997 is
                    hereby incorporated herein by reference.

          4.3       Common Stock Purchase Warrant dated November
                    21, 1997 issued by the Company to Bull Run
                    Corporation included as Exhibit 4.1 to the
                    Company's Form 8-K dated November 21,1997 is
                    hereby incorporated herein by reference.




<PAGE> 


          10.1      Amended and Restated Credit Agreement dated
                    as of September 12, 1997 among the Company,
                    The First National Bank of Chicago, as agent,
                    and certain lenders named therein included as
                    Exhibit 99.1 to the Company's Form 8-K filed
                    on October 21,1997 is hereby incorporated
                    herein by reference.

          10.1.1    First Amendment to Amended and Restated
                    Credit Agreement dated May 31, 1998 by and
                    among Rawlings Sporting Goods Company, Inc.,
                    the First National Bank of Chicago, as agent,
                    and certain lenders named therein included as
                    Exhibit 10 to the Company's Form 10-Q for the
                    quarter ended May 31, 1998, is hereby
                    incorporated herein by reference.

          10.2      Assets Transfer Agreement dated as of July 8,
                    1994 by and among Figgie, Figgie Licensing
                    Corporation, Figgie International Real
                    Estate, Inc., Figgie Properties, Inc. and the
                    Company, included as Exhibit 10.1 to the
                    Company's Form 10-Q for the quarter ended
                    June 30, 1994, is hereby incorporated herein
                    by reference.

          10.3      Transitional Services Agreement dated as of
                    July 8, 1994 between Figgie and the Company,
                    included as Exhibit 10.2 to the Company's
                    Form 10-Q for the quarter ended June 30,
                    1994, is hereby incorporated herein by
                    reference.

          10.4      Tax Sharing and Separation Agreement dated
                    July 8, 1994 between the Company and Figgie,
                    included as Exhibit 10.3 to the Company's
                    Form 10-Q for the quarter ended June 30,
                    1994, is hereby incorporated herein by
                    reference.

          *10.5     The Company's 1994 Long-Term Incentive Plan,
                    included as Exhibit A to the Company's proxy
                    statement dated December 9, 1994, is hereby
                    incorporated herein by reference.

          *10.6     The Company's 1994 Non-Employee Directors'
                    Stock Plan, included as Exhibit B to the
                    Company's proxy statement dated December 9,
                    1994, is hereby incorporated herein by
                    reference.

          10.7      Amendment Agreement between Rawlings Sporting
                    Goods Company and ASICS Corporation, dated
                    January 21, 1991, included as Exhibit 10.6 to
                    the Company's Registration Statement on Form
                    S-1 (File No. 33-77906), is hereby
                    incorporated herein by reference.


<PAGE> 



          *10.8     Form of Indemnity Agreement entered into with
                    Directors and executive officers, included as
                    Exhibit 10.7 to the Company's Form 10-K for
                    the fiscal year ended August 31, 1994, is
                    hereby incorporated herein by reference.

          *10.9     Form of Severance Agreement entered into with
                    executive officers included as Exhibit 10.8
                    to the Company's Form 10-K for the year ended
                    August 31, 1995 is hereby incorporated herein
                    by reference.

          10.10     Investment Purchase Agreement dated November
                    21, 1997 between the Company and Bull Run
                    Corporation, included as Exhibit 99.1 to the
                    Company's Form 8-K dated November 21, 1997 is
                    hereby incorporated herein by reference.

          10.11     Standstill Agreement dated November 21, 1997
                    between the Company and Bull Run Corporation,
                    included as Exhibit 99.2 to the Company's
                    Form 8-K dated November 21, 1997 is hereby
                    incorporated herein by reference.

          l0.12     Registration Rights Agreement dated November
                    21, 1997 between the Company and Bull Run
                    Corporation, included as Exhibit 99.3 to the
                    Company's Form 8-K dated November 21,1997 is
                    hereby incorporated herein by reference.

*    Management contract or compensatory plan or arrangement
     required to be filed as an exhibit pursuant to the Item
     14(c) of this report.

          13.  Annual Report to Stockholders for the Fiscal Year
               Ended August 31, 1998.

          21.  Subsidiaries of the Company.

          23.  Consent of Arthur Andersen LLP. 

          27.  Financial Data Schedule.

     (b)  Reports on Form 8-K

          There were no reports filed on Form 8-K for the quarter
ended August 31, 1998.



<PAGE> 


                            SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Company has duly caused this
report to be signed on its behalf by the undersigned, thereunto
duly authorized.

                                   RAWLINGS SPORTING GOODS
                                   COMPANY, INC.



Date:  November 19, 1998           By: /s/ Paul E. Martin
                                        Paul F. Martin 
                                        Chief Financial Officer

     Pursuant to the requirements of the Securities Exchange Act
of 1934, this report has been signed by the following persons on
behalf of the Company and in the capacities and on the date
indicated.

     SIGNATURE                     DATE

By:  /s/ Stephen M O'Hara              November 19, 1998
     Stephen M. O'Hara
     Chairman of the Board and Chief Executive Officer
     (Principal Executive Officer)

By:  /s/ Paul E. Martin                November 19, 1998
     Paul E. Martin
     Chief Financial Officer
     (Principal Financial Officer
     and Accounting Officer)

By:  /s/ Andrew N. Baur                November 19, 1998
     Andrew N. Baur
     Director

By:  /s/ Linda L. Griggs               November 19, 1998
     Linda L. Griggs
     Director

By:  /s/ Charles L. Jarvie             November 19, 1998
     Charles L. Jarvie
     Director



<PAGE> 




By:  /s/ Michael McDonnell             November 19, 1998
     Michael McDonnell
     Director

By:  /s/ Robert S. Prather Jr.         November 19, 1998
     Robert S. Prather Jr.
     Director

By:  /s/ Michael J. Roarty             November 19, 1998
     Michael J. Roarty
     Director

By:  /s/ William C. Robinson           November 19, 1998
     William C. Robinson
     Director