SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
[x] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [FEE REQUIRED]
For The Fiscal Year Ended December 31, 1998
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d)OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For The Transition Period From ________To__________
Commission File No. 1-10704
SPORT SUPPLY GROUP, INC.
EMPLOYEES' SAVINGS PLAN
(Full Title of the Plan)
SPORT SUPPLY GROUP, INC.
(Name of issuer of the securities held pursuant to the plan)
1901 Diplomat Drive, Farmers Branch, Texas 75234
(Address of principal executives offices) (Zip code)
<PAGE>
SPORT SUPPLY GROUP, INC. EMPLOYEES' SAVINGS PLAN
FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES
INDEX
Page
Report of Ernst & Young LLP, Independent Auditors F-2
Statement of Net Assets Available for Plan Benefits
as of December 31, 1998 F-3
Statement of Net Assets Available for Plan Benefits
as of December 31, 1997 F-4
Statement of Changes in Net Assets Available for Plan
Benefits for the Year Ended December 31, 1998 F-5
Statement of Changes in Net Assets Available for Plan
Benefits for the Year Ended December 31, 1997 F-6
Notes to Financial Statements F-7
Supplemental Schedules
Item 27a - Schedule of Assets Held for Investment Purposes F-12
Item 27d - Schedule of Reportable Transactions F-13
Item 27e - Schedule of Nonexempt Transactions F-14
Signatures F-15
Index to Exhibits F-16
Consent of Ernst & Young LLP, Independent Auditors F-17
<PAGE>
REPORT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
Plan Administrator
Sport Supply Group, Inc. Employees' Savings Plan
We have audited the accompanying statements of net assets available for
plan benefits of the Sport Supply Group, Inc. Employees' Savings Plan as of
December 31, 1998 and 1997, and the related statements of changes in net
assets available for plan benefits for the years then ended. These financial
statements are the responsibility of the Plan's management. Our
responsibility is to express an opinion on these financial statements based
on our audit.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements.
An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present
fairly, in all material respects, the net assets available for plan
benefits of the Plan as of December 31, 1998 and 1997, and the changes
in net assets available for plan benefits for the years then ended, in
conformity with generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the
financial statements taken as a whole. The accompanying supplemental
schedules of assets held for investment purposes as of December 31,
1998, reportable transactions for the year then ended, and nonexempt
transactions for the year then ended, are presented for purpose of
additional analysis and are not a required part of the financial
statements but are supplementary information required by the Department
of Labor's Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974. These supplemental
schedules are the responsibility of the Plan's management. The Fund
Information in the statements of net assets available for plan benefits
and the statements of changes in net assets available for plan benefits
is presented for purposes of additional analysis rather than to present
the net assets available for plan benefits and the changes in net assets
available for plan benefits of each fund. The supplemental schedules and
Fund Information have been subjected to auditing procedures applied in
our audits of the financial statements and, in our opinion, are fairly
stated in all material respects in relation to the financial statements
taken as a whole.
ERNST & YOUNG LLP
May 21, 1999
Dallas, Texas
<PAGE>
<TABLE>
SPORT SUPPLY GROUP, INC. EMPLOYEES' SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
WITH FUND INFORMATION
December 31, 1998
Corporate
Bond
Company Retirement High Basic Global
Stock Preservation Income Growth Value Capital Allocation
Fund Trust Fund Fund Fund Fund Fund Fund Total
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Investments, at fair value $57,477 $175,166 $92,680 $340,681 $278,933 $100,398 $110,490 $1,155,825
Participant loans receivable - 23,514 - - - - - 23,514
Employee contributions
receivable 1,017 1,069 1,845 13,324 9,247 5,298 4,307 36,107
Employer contributions
receivable 232 486 359 2,628 1,884 1,114 896 7,599
Net assets available for
plan benefits $58,726 $200,235 $94,884 $356,633 $290,064 $106,810 $115,693 $1,223,045
See accompanying notes.
</TABLE>
<PAGE>
<TABLE>
SPORT SUPPLY GROUP, INC. EMPLOYEES' SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION
December 31, 1997
Corporate
Bond
Company Retirement High Basic Global
Stock Preservation Income Growth Value Capital Allocation
Fund Trust Fund Fund Fund Fund Fund Fund Other Total
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Investments, at fair value $35,440 $ 77,804 $81,141 $369,064 $196,243 $25,552 $ 41,025 $(16,196) $810,073
Participant loans receivable - 21,175 - - - - - - 21,175
35,440 98,979 81,141 369,064 196,243 25,552 41,025 (16,196) 831,248
Employee contributions
receivable 2,712 6,284 5,416 39,662 15,548 11,480 16,901 16,196 114,199
Employer contributions
receivable 622 1,342 1,095 8,271 3,118 2,323 3,520 - 20,291
Total assets 38,744 106,605 87,652 416,997 214,909 39,355 61,446 - 965,738
Liabilities
Contributions refundable - - - - - - - 13,213 13,213
Total liabilities - - - - - - - 13,213 13,213
Net assets available for
plan benefits $38,744 $106,605 $87,652 $416,997 $214,909 $39,355 $ 61,446 $(13,213) $952,525
See accompanying notes
</TABLE>
<PAGE>
<TABLE>
SPORT SUPPLY GROUP, INC. EMPLOYEES' SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
WITH FUND INFORMATION
Year Ended December 31, 1998
Corporate
Bond Global
Company Retirement High Basic Allo-
Stock Preservation Income Growth Value Capital cation
Fund Trust Fund Fund Fund Fund Fund Fund Other Total
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Investment earnings:
Dividends, interest income,
loan repayments,and other $ 3,704 $ (3,909) $ 11,148 $ 9,355 $ 24,459 $ 6,586 $ 14,033 $ - $ 65,376
Net appreciation (depreciation)
in fair value of investments 9,270 - (13,642) (94,719) (2,964) (2,833) (13,644) - (118,532)
Employee contributions 14,348 37,331 17,837 137,151 75,365 49,382 59,284 - 390,698
Employer contributions 3,079 5,755 3,565 28,580 15,288 9,886 12,307 - 78,460
30,401 39,177 18,908 80,367 112,148 63,021 71,980 - 416,002
Participant withdrawals,
loan withdrawals,
distributions, and other (7,039) (5,360) (6,933) (70,564) (47,034) (6,824) (14,941) 13,213 (145,482)
Transfers between funds (3,410) 59,813 (4,743) (70,167) 10,041 11,258 (2,792) - -
Net increase (decrease)
in net assets 19,952 93,630 7,232 (60,364) 75,155 67,455 54,247 13,213 270,520
Net assets available
for plan benefits,
beginning of year 38,774 106,605 87,652 416,997 214,909 39,355 61,446 (13,213) 952,525
Net assets available
for plan benefits,
end of year $58,726 $200,235 $ 94,884 $356,633 $290,064 $106,810 $115,693 $ - $1,223,045
See accompanying notes
</TABLE>
<PAGE>
<TABLE>
SPORT SUPPLY GROUP, INC. EMPLOYEES' SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
WITH FUND INFORMATION
Year Ended December 31, 1997
Corpo-
Limited Retire- rate
Vola- ment Bond Global
Money tility Equity Discip- Company Preser- High Basic Allo-
Market Bond Index lined Stock vation Income Growth Value Capital cation
Fund Fund Fund Value Fund Trust Fund Fund Fund Fund Fund Other Total
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Investment
earnings:
Dividends,
interest
income,
loan
re-
payments,
and
other $ 4,155 $ 4,927 $ 1,259 $ 1,409 $ 149 $7,744 $4,090 $28,246 $12,947 $ 725 $4,135 $ (625) $69,161
Net appre-
ciation
(deprec-
iation)
in fair
value of
investments - (937) 7,986 (2,882) 7,674 - 1,184 6,722 12,149 (201) (4,595) - 27,100
Employee
contri-
butions 5,609 6,909 19,472 13,798 10,655 20,345 14,541 112,383 45,982 32,582 47,966 (10,088) 320,154
Employer
contri-
butions - - - - 1,724 3,574 2,963 23,734 9,122 6,538 10,029 (2,500) 55,184
9,764 10,899 28,717 12,325 20,202 31,613 22,778 171,085 80,200 39,644 57,535 (13,213) 471,599
Participant
withdrawals,
loan with-
drawals,
distri-
butions,
and other (3,014) (8,137) (40,456) (69,726) (14,461) (2,564) - (2,113) (1,538) (289) (811) - (143,109)
Transfers
between
funds (81,330) (73,604) (240,895) (133,545) (2,000) 77,506 64,874 248,025 136,247 - 4,722 - -
Net increase
(decrease)
in net
assets (74,580) (70,842) (252,634) (190,946) 3,741 106,605 87,652 416,997 214,909 39,355 61,446 (13,213) 328,490
Net assets
available
for plan
benefits,
beginning
of year 74,580 70,842 252,634 190,946 35,033 - - - - - - - 624,035
Net assets
available
for plan
benefits,
end
of year $ - $ - $ - $ - $38,744 $106,605 $87,652 $416,997 $214,909 $39,355 $61,446 $(13,213) $952,525
</TABLE>
<PAGE>
SPORT SUPPLY GROUP, INC. EMPLOYEES' SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS - (CONTINUED)
1. Description of the Plan
Sport Supply Group, Inc. Employees' Savings Plan (the Plan) was
established on June 1, 1993, and was amended on October 18, 1995, to
comply with Internal Revenue Service (IRS) requirements. The following
description of the Plan is provided for general information purposes
only. Participants should refer to the Plan agreement for a more
complete description of the Plan's provisions.
General
The Plan is a defined contribution retirement plan established by
Sport Supply Group, Inc. Supply Group, Inc. (the Company), under the
provisions of Section 401(a) of the Internal Revenue Code (IRC), which
includes a qualified deferral arrangement as described in Section 401(k) of
the IRC, for the benefit of eligible employees of the Company. The Plan is
subject to the provisions of the Employee Retirement Income Security Act of
1974 (ERISA).
Employees become eligible to participate in the Plan upon the completion
of one year of service and attainment of age 21. Employees, except for
leased employees and employees whose employment is governed by a collective
bargaining agreement (unless agreement expressly provides for participation
in the Plan), who had satisfied the eligibility requirements prior to the
effective date of the Plan were eligible to participate as of June 1, 1993.
Eligible employees may become participants on the earlier of the first day
of the Plan year or the first day of the seventh month of the Plan year
coinciding with or next following the date the employees satisfy the Plan's
requirements.
Contributions
In accordance with Amendment I to the Plan, effective May 1, 1997,
participants may elect to defer up to 15% of their compensation each
year, wherein previously participants could defer up to 8% of their
compensation. However, total deferrals for each employee in any taxable
year may not exceed a specified dollar limit set by IRS regulations.
These contributions are invested at the participant's discretion into
funds administered by Bank One, Texas, N.A. until April 30, 1997, and by
Merrill Lynch Trust Company of Texas (the Trustee) after April 30, 1997.
The Company may elect to contribute to the Plan by means of a matching
contribution, a special discretionary contribution, or an additional
discretionary amount. The Company contributed $78,460 and $57,684 in 1998
and 1997, respectively, consisting of a matching contribution equal to 25%
of a participant's deferrals up to 6% of the employee's eligible
compensation. Effective May 1, 1997, Amendment I to the Plan allows the
Company to contribute to the Plan more than once a year, and states that all
Company contributions are fully vested and not subject to forfeiture.
Amendment No. I also requires the employee to be actively employed on
the last day of the month in which the Company's contribution is made.
Until May 1, 1997, a participant must be actively employed on the last
day of Plan year or complete more than 500 hours of service prior to
terminating employment in order to share in the Company's matching
contribution, special discretionary contribution, or additional
discretionary amount.
Investment Options
Through April 30, 1997, participants could direct contributions into the
following investment options:
Money Market Fund - This fund invests in instruments in which the
dollar-weighted average portfolio maturity may not exceed 90 days.
Limited Volatility Bond Fund - This fund invests in bonds, preferred
stocks, and obligations issued or guaranteed by the U.S. government. All
remaining assets will be invested in debt securities of all types.
<PAGE>
1. Description of the Plan (continued)
Equity Index Fund - This fund invests in the stocks which comprise the
Standard & Poor's 500 Composite Index.
Disciplined Value Fund - This fund invests in equity securities with
below-market average price-to-earnings and price-to-book ratios.
Company Stock Fund - This fund invests principally in the Company's
common stock.
As of May 1, 1997, the Company offered the following new investment
options, including the Company Stock Fund:
Retirement Preservation Trust Fund - This fund invests in assets with
AAA or Aaa ratings or U.S. Government agency securities.
Corporate Bond High Income Fund - This fund invests primarily in a
diversified portfolio of corporate fixed income securities, such as
corporate bonds and notes, convertible securities and preferred stocks.
Growth Fund - This fund invests in a diversified portfolio of primarily
equity securities placing principal emphasis on those securities that
management of the fund believes to be undervalued.
Basic Value Fund - This fund invests in securities, primarily equities,
that management of the fund believes are undervalued.
Capital Fund - This fund invests in equity, debt (including money
market) and convertible securities to achieve the highest total
investment return.
Global Allocation Fund - This fund invests in United States and foreign
equity, debt, and money market securities, the combination of which will
be varied in response to changing market and economic trends.
Vesting
A participant is 100% vested in his/her salary deferral amounts
contributed to the Plan and, effective May 1, 1997, in any of the
Company's contributions made to the Plan.
Benefits
Participants or beneficiaries are able to receive vested funds from
their accounts under the following circumstances:
Normal retirement (normal retirement age is 65)
Late retirement
Death
Total and permanent disability
1. Description of the Plan (continued)
If a participant terminates for reasons other than those listed above,
he/she will be entitled to receive only the vested portion of his/her account.
<PAGE>
Participant Loans
The Trustee may, at its discretion, make loans to participants and
beneficiaries. The amount the Plan may loan to a participant is limited
by rules under the IRC. The outstanding balance of any one participant's
loans will be limited to the lesser of $50,000 or one-half of the
participant's vested account balance. The minimum loan is $1,000.
Participant loan balances and related loan activity are included in the
Retirement Preservation Trust Fund in 1998 and 1997.
Hardship Withdrawals
Participants are allowed to withdraw employee account balances prior to
termination of their employment under certain conditions as specified in the
Plan. Participants may not make contributions for at least one year after the
receipt of the distribution.
2. Income Tax Status
The Plan has received a determination letter from the Internal Revenue
Service dated December 1, 1995, stating that the Plan is qualified under
Section 401(a) of the Internal Revenue Code (the Code) and, therefore, the
related trust is exempt from taxation. Once qualified, the Plan is required
to operate in conformity with the Code to maintain its qualification. The
Plan Administrator believes the Plan is being operated in compliance with the
applicable requirements of the Code and, therefore, believes that the Plan
is qualified and the related trust is tax exempt.
3. Plan Termination
While it currently has no intent to do so, the Company has the right to
terminate the Plan at any time. Upon termination of the Plan, all
participants will become fully vested, and the assets of the Plan will be
distributed to the participants in accordance with the Plan provisions.
4. Summary of Significant Accounting Policies
Basis of Accounting
The Plan's financial statements have been prepared on the accrual basis
of accounting.
Use of Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates that
affect the amounts reported in the financial statements and accompanying
notes. Actual results could differ from these estimates.
4. Summary of Significant Accounting Policies (continued)
Income Recognition
Interest and other income are recorded as earned on the accrual basis.
Dividend income is recorded on the ex-dividend date.
Investment Valuation
Investments of the Plan are stated at fair value. The Company's stock is
valued at the last sales price on the day of valuation, or lacking any sales,
at the price at which it was last traded prior to the valuation day. Shares
of registered investment companies are valued at quoted market prices which
represent the net asset value of shares held by the Plan at year-end.
Administrative and Investment Expenses
All trustee fees, investment management fees, and record-keeping fees
are paid by the Company at its discretion on behalf of the Plan. The Company
paid fees on behalf of the Plan of approximately $16,500 and $20,000 for
1998 and 1997, respectively.
5. Investments
The following investments represented 5% or more of the net assets
available for plan benefits at December 31:
Description 1998 1997
Retirement Preservation Trust Fund 175,166 77,804
Corporate Bond High Income Fund 92,680 81,141
Growth Fund 340,681 369,064
Basic Value Fund 278,933 196,243
Capital Fund 100,398 -
Global Allocation 110,490 -
<PAGE>
6. Nonexempt Transactions
Certain employee contributions from 1998 were not deposited into the
Plan's trust on a timely basis, resulting in nonexempt transactions
which have been disclosed in a supplemental schedule. These
contributions were subsequently deposited into the Plan's trust.
7. Year 2000 (Unaudited)
The Company has determined that it will be necessary to take certain
steps in order to ensure that the Plan's information systems are
prepared to handle year 2000 dates. The Company is taking a two phase
approach. The first phase addresses internal systems that must be
modified or replaced to function properly. Both internal and external
resources are being utilized to replace or modify existing software
applications, and test the software and equipment for the year 2000
modifications. The Company completed this phase of the project on May 3,
1999. Costs associated with modifying software and equipment will be
paid by the Company.
7. Year 2000 (Unaudited) (continued)
For the second phase of the project, Plan management established formal
communications with its third party service providers to determine that they
have developed plans to address their own year 2000 problems as they relate
to the Plan's operations. All third party service providers have indicated
that they will be year 2000 compliant by late 1999. If modification
of data processing systems of either the Plan, the Plan Sponsor, or its service
providers are not completed timely, the year 2000 problem could have a material
impact on the operations of the Plan. Plan management has not developed a
contingency plan, because they are confident that all systems will be year
2000 ready.
8. Subsequent Event
Effective April 1, 1999, the Plan's trustee became Frontier Trust Company,
and effective January 1, 1999, the Plan's recordkeeper became COMplete
Professional Administration Services, Inc.
<TABLE>
Sport Supply Group, Inc. Employees' Savings Plan
ITEM 27a - SCHedule of assets held for investment purposes
DECEMBER 31, 1998
EIN: 75-2241783
Plan #: 001
(e)
(b) (c) (d) Current
(a) Identity ofInsurer Description Cost Value
<S> <C> <C> <C>
*Merrill Lynch Trust Co. Retirement Preservation
of Texas Trust Fund $175,166 $175,166
*Merrill Lynch Trust Co. Corporate Bond
of Texas High Income Fund 104,857 92,680
*Merrill Lynch Trust Co.
of Texas Growth Fund 420,418 340,681
*Merrill Lynch Trust Co.
of Texas Basic Value Fund 268,234 278,933
*Merrill Lynch Trust Co.
of Texas Capital Fund 103,221 100,398
*Merrill Lynch Trust Co.
of Texas Global Allocation Fund 126,274 110,490
*Sport Supply Group, Inc. Common stock 45,693 57,477
*Participants Participant loans with
interest rates ranging
from 8.75% to 10% - 23,514
$1,243,863 $1,179,339
*Party-in-interest
</TABLE>
<PAGE>
<TABLE>
SPORT SUPPLY GROUP, INC. EMPLOYEES' SAVINGS PLAN
ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
YEAR ENDED DECEMBER 31, 1998
EIN: 75-2241783 (h)
Current
Plan #: 001 Value of
(a) (c) (d) (g) Assets on (i)
Identity of (b) Purchase Selling Cost of Transaction Net Gain
Party Involved Description of Asset Price Price Assets Date or Loss
Category (iii) - Series of transactions in excess of 5% of plan assets
<S> <C> <C> <C> <C> <C> <C>
Merrill Lynch Trust Retirement Preservation
Company of Texas Trust Fund $130,562 $ - $130,562 $130,562 $ -
- 33,560 33,560 33,560 -
Merrill Lynch Trust
Company of Texas Growth Fund 207,620 - 207,620 207,620 -
- 141,643 149,989 141,643 (8,346)
Merrill Lynch Trust
Company of Texas Basic Value Fund 171,810 - 171,810 171,810 -
- 86,479 87,838 86,479 (1,359)
Merrill Lynch Trust Corporate Bond
Company of Texas High Income Fund 36,695 - 36,695 36,695 -
- 11,676 12,042 11,676 (366)
Merrill Lynch Trust
Company of Texas Global Allocation Fund 111,671 - 111,671 111,671 -
- 28,705 30,998 28,705 (2,293)
Merrill Lynch Trust
Company of Texas Capital Fund, Inc. 86,477 - 86,447 86,447 -
- 8,991 8,988 8,991 3
Columns (e) and (f) are not applicable.
Categories (i), (ii), and (iv) are not applicable for the year ended December 31, 1998.
</TABLE>
<TABLE>
Sport Supply Group, Inc. Employees' Savings Plan
ITEM 27e - SCHedule of Nonexempt transactions
year ended december 31, 1998
EIN: 75-2241783
Plan #: 001
(c)
(b) Description of Transactions
(a) Relationship to Plan, Including Maturity Date, Rate of
Identity of Party Employer of Other Interest, Collateral, Par, or
Involved Party-in-Interest Maturity Value
<S> <C> <C>
Sport Supply Group, Inc. Employer Contributions of $75,222 for the payroll
periods in January and February 1998 were
deposited on April 21, 1998
Sport Supply Group, Inc. Employer Contributions of $29,466 for the payroll
period in March 1998 were deposited on
May 26, 1998
Sport Supply Group, Inc. Employer Contributions of $30,745 for the payroll
period in April 1998 were deposited on
June 12, 1998
Sport Supply Group, Inc. Employer Contributions of $30,183 for the payroll
period in May 1998 were deposited on
July 2, 1998
Sport Supply Group, Inc. Employer Contributions of $29,765 for the payroll
period in June 1998 were deposited on
August 12, 1998
Sport Supply Group, Inc. Employer Contributions of $61,347 for the payroll
periods in July and August 1998 were deposited
on October 2, 1998
Sport Supply Group, Inc. Employer Contributions of $53,989 for the payroll
periods in September and October 1998 were
deposited on December 1, 1998
Sport Supply Group, Inc. Employer Contributions of $25,877 for the payroll
period in November 1998 were deposited on
December 24, 1998
Sport Supply Group, Inc. Employer Contributions of $36,107 for the payroll
period in December 1998 were deposited on
February 5, 1999.
Columns (d) - purchase price, (e) - selling price, (f) - lease rental,
(g) - expenses incurred in connection with transaction, (h) - cost of
asset, (i) - current value of asset, and (j) - net gain or (loss) on
each transaction are not applicable.
</TABLE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
persons who administer the employee benefit plan have duly caused this
annual report to be signed on its behalf by the undersigned hereunto
duly authorized.
SPORT SUPPLY GROUP, INC.
EMPLOYEES' SAVINGS PLAN
June 29, 1999 By:
John P. Walker
President, Chief Operating Officer, and Chief Financial Officer
INDEX TO EXHIBITS
Columns (d) - purchase price, (e) - selling price, (f) - lease rental,
(g) - expenses incurred in connection with transaction, (h) - cost of
asset, (i) - current value of asset, and (j) - net gain or (loss) on
each transaction are not applicable.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
persons who administer the employee benefit plan have duly caused this
annual report to be signed on its behalf by the undersigned hereunto
duly authorized.
SPORT SUPPLY GROUP, INC.
EMPLOYEES' SAVINGS PLAN
June 29, 1999 By: /s/ John P. Walker
President, Chief Operating Officer,
and Chief Financial Officer
INDEX TO EXHIBITS
Number Description
Page
32 Consent of Ernst & Young LLP, Independent Auditors F-
17
EXHIBIT 32
CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
We consent to the incorporation by reference in the Registration
Statement (Form S-8 No. 33-64470) pertaining to the Employees' Savings
Plan of Sport Supply Group, Inc. of our report dated May 21, 1999, with
respect to the financial statements and supplemental schedules of the
Sport Supply Group, Inc. Employees' Savings Plan included in this Annual
Report (Form 11-K) for the year ended December 31, 1998.
ERNST & YOUNG LLP
June 29, 1999
Dallas, Texas
