AJAY SPORTS INC
8-K, 1997-05-13
SPORTING & ATHLETIC GOODS, NEC
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                                    FORM 8-K


                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  20549



                                 CURRENT REPORT


                       Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934


                                   May 5, 1997



                                Ajay Sports, Inc.                       
             (Exact Name of Registrant as specified in its charter)



                                 Delaware                        
                 (State or other jurisdiction of incorporation)



       0-18204                                        39-1644025            
- ------------------------                          -----------------------------
(Commission File Number)                           (IRS Employer Identification
                                                    Number)


        1501 E. Wisconsin Street, Delavan, WI         53115 
      ---------------------------------------------------------
       (Address of Principal Executive Offices)      (Zip Code)


       Registrant's telephone number, including area code:  (414) 728-5521











<PAGE>

Item 5:     Other Events

     On May 5, 1997 the  Registrant  announced that on May 5, 1997, the Board of
Directors of the  Registrant  extended the  expiration  date of its common stock
purchase  warrants  from 5:00 p.m.  Mountain  Time,  June 30,  1997 to 5:00 p.m.
Mountain  Time,  December  31, 1997.  The  Registrant  issued these  warrants on
November  29,  1989 and on July 26,  1995 each of which is  exercisable  for the
purchase  of one  share of the  Registrant's  common  stock  for $1.00 per share
pursuant to the terms of its initial  public  offering and a Warrant  Agreement,
dated  November  21,  1989,  as amended,  between the  Registrant  and  American
Securities  Transfer,  Inc.,  as warrant  agent and its  Preferred  Series C and
Common Stock Warrants offering of July 26, 1995

     The  Registrant's  Stock  Transfer  Agent was  notified  by letter from the
Registrant's  Corporate  Secretary as to the extension of the expiration date of
the warrants.





<PAGE>

                                  SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                    AJAY SPORTS,INC.



                                    By  /S/ROBERT R. HEBARD    
                                        -----------------------------        
                                        Robert R. Hebard, Secretary

May 13, 1997







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