EXHIBIT 5(a)
FOR FURTHER INFORMATION:
At the Company:
John P. Walker
President
972/406-7108
Robert Mitchell
Chief Financial Officer
972/406-3484
FOR IMMEDIATE RELEASE
November 9, 2000
SPORT SUPPLY GROUP, INC. APPLIES FOR LISTING OF ITS COMMON STOCK
ON THE AMERICAN STOCK EXCHANGE
November 9, 2000 Dallas, Texas - Sport Supply Group, Inc. (the
"Company") today announced that it has applied for the listing of
its Common Stock on the American Stock Exchange (the "AMEX").
The Company has been listed on the New York Stock Exchange
(the "NYSE") since 1993. The NYSE recently adopted new continued
listing requirements that require a listed company to have both
$50 million of stockholders equity and $50 million of market
capitalization. As of September 30, 2000 the Company did not meet
these requirements. Since the Company does not meet the NYSE's newly
adopted continued listing requirements, the NYSE has notified the
Company that trading in the Company's shares on the NYSE will be
suspended.
The NYSE has not announced a suspension date. A suspension date
will be announced at such time as (i) the Company does not request
a review by the Committee of the Board of Directors of the NYSE,
(ii) the subsequent review of the Committee determines that the
Company should be suspended, or (iii) the Company commences trading
in another securities marketplace. The Company has ten business days
to request a review by the Committee.
Although the Company has applied for listing on the AMEX, the Company's
listing on the AMEX is subject to the completion, submission and final
AMEX approval of the Company's listing materials. No assurance can be
made that the Company's shares will be approved for listing on the AMEX.
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The Company also reported that the engagement of PaineWebber to explore
strategic alternatives on the Company's behalf has been terminated.
Sport Supply Group is the leading direct marketer of sporting goods
equipment to the institutional marketplace. The Company's products and
proprietary brands are used by amateur and professional athletes in
schools, colleges, universities, governmental agencies, camps and youth
organizations across the country. For more information about Sport Supply
Group visit http://www.sportsupplygroup.com.
This news release, other than the historical information, consists of
forward looking statements that involve risks and uncertainties detailed
from time to time in the Company's filings with the Securities and
Exchange Commission, including the Company's Reports on Form 10-K and
Form 10-Q. Actual results may vary materially.
