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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	July 30, 2007
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  	Sport Supply Group, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Delaware
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  	001-15289
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  	22-2795073
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
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  ______________<BR>
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	1901 Diplomat Drive, Farmers Branch, Texas
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  	75234
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
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  	Registrant&#146;s telephone number, including area code:
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  	(972) 484-9484
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 7.01 Regulation FD Disclosure.
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  On July 30, 2007, Sport Supply Group, Inc. issued a press release, a copy of which is attached hereto as Exhibit 99.1, announcing the closing of its $18,300,000 private placement of 1,830,000 shares of common stock, par value of $0.01 per share, to CBT Holdings, LLC. <br><br>In accordance with General Instruction B.2 of Form 8-K, the information set forth in this Item 7.01, including Exhibit 99.1, is furnished pursuant to Item 7.01 and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be set forth by specific reference in such a filing.  The information set forth in this Item 7.01 shall not be deemed an admission as to the materiality of any information in this report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.<br>
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  	Item 9.01 Financial Statements and Exhibits.
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  (d) Exhibits.<br><br>Exhibit No. and Description<br><br>  10.1                   Purchase Agreement, by and between Sport Supply Group, Inc. and CBT Holdings, LLC, dated July 26, 2007<br><br>  99.1                   Press Release, dated July 30, 2007
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  	SIGNATURES
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  	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.
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  	Sport Supply Group, Inc.
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  	&nbsp;&nbsp;
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  <I>
  	July 31, 2007
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  	By:
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  <I>
  	Adam Blumenfeld
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  	&nbsp;
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  <I>
  	Name: Adam Blumenfeld
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  	Title: Chairman and Chief Executive Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	10.1
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  	&nbsp;
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  Purchase Agreement, by and between Sport Supply Group, Inc. and CBT Holdings, LLC, dated July 26, 2007
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  	99.1
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  	&nbsp;
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  Press Release, dated July 30, 2007
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_21751.htm", "description": "LIVE FILING", "secsgml_size_bytes": 11306}]
metadata_filer: {"company-data": {"conformed-name": "SPORT SUPPLY GROUP, INC.", "cik": "0000828747", "assigned-sic": "5961", "irs-number": "222795073", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-15289", "film-number": "071011513"}, "business-address": {"street1": "1901 DIPLOMAT DRIVE", "city": "DALLAS", "state": "TX", "zip": "75234", "phone": "9724849484"}, "mail-address": {"street1": "1901 DIPLOMAT DRIVE", "city": "DALLAS", "state": "TX", "zip": "75234"}, "former-company": [{"former-conformed-name": "COLLEGIATE PACIFIC INC", "date-changed": "19980303"}, {"former-conformed-name": "DSSI CORP", "date-changed": "19971031"}, {"former-conformed-name": "DRUG SCREENING SYSTEMS INC", "date-changed": "19920703"}]}
text: Sport Supply Group, Inc. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  July 30, 2007
  Sport Supply Group, Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  001-15289
  22-2795073
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  1901 Diplomat Drive, Farmers Branch, Texas
  75234
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  (972) 484-9484
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 7.01 Regulation FD Disclosure.
  On July 30, 2007, Sport Supply Group, Inc. issued a press release, a copy of which is attached hereto as Exhibit 99.1, announcing the closing of its $18,300,000 private placement of 1,830,000 shares of common stock, par value of $0.01 per share, to CBT Holdings, LLC.
  In accordance with General Instruction B.2 of Form 8-K, the information set forth in this Item 7.01, including Exhibit 99.1, is furnished pursuant to Item 7.01 and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be set forth by specific reference in such a filing.  The information set forth in this Item 7.01 shall not be deemed an admission as to the materiality of any information in this report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.
  Item 9.01 Financial Statements and Exhibits.
  (d) Exhibits.
  Exhibit No. and Description
  10.1                   Purchase Agreement, by and between Sport Supply Group, Inc. and CBT Holdings, LLC, dated July 26, 2007
  99.1                   Press Release, dated July 30, 2007
  Top of the Form
  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.
  Sport Supply Group, Inc.
  July 31, 2007
  By:
  Adam Blumenfeld
  Name: Adam Blumenfeld
  Title: Chairman and Chief Executive Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  10.1
  Purchase Agreement, by and between Sport Supply Group, Inc. and CBT Holdings, LLC, dated July 26, 2007
  99.1
  Press Release, dated July 30, 2007