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                                   EXHIBIT 5.1




                                  May 12, 1998


Escalade, Incorporated
817 Maxwell Avenue
Evansville, Indiana 47717

         RE:      REGISTRATION STATEMENT ON FORM S-8

Gentlemen:

         We have acted as counsel to Escalade, Incorporated, an Indiana
corporation (the "Company"), in connection with the registration under the
Securities Act of 1933, as amended, on Form S-8 (the "Registration Statement")
of up to 300,000 shares of the Company's Common Stock, no par value per share
(the "Shares"), issuable under the Company's 1997 Incentive Stock Option Plan.

         As counsel for the Company, we have made such legal and factual
examinations and inquiries as deemed advisable for the purpose of rendering this
opinion. In addition, we have examined such documents and materials, including
the Articles of Incorporation and Bylaws of the Company, and other corporate
records of the Company as we have deemed necessary and appropriate for the
purpose of this opinion.

         On the basis of the foregoing, we are of the opinion that the 300,000
shares of Common Stock of the Company registered for issuance pursuant to the
Registration Statement, are currently validly authorized and, when issued as
contemplated by the Registration Statement, will be legally issued, fully paid
and nonassessable shares of Common Stock of the Company.

         We hereby consent to the filing of this opinion as part of the
above-referenced Registration Statement and amendments thereto.

                                               Very truly yours,

                                               GRAYDON, HEAD & RITCHEY

                                               /s/ Richard G. Schmalzl

                                               Richard G. Schmalzl