SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
----------
SCHEDULE 13G
(Amendment No. 2)
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 and 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Bally Total Fitness Holding Corporation
-------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, Par Value $.01 Per Share
-------------------------------------------------------------------------------
(Title of Class of Securities)
05873K108
-------------------------------------------------------------------------------
(CUSIP Number)
--------------------- ---------------------
CUSIP No. 05873K108 13G/A Page 2 of 10 Pages
--------------------- ---------------------
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Highfields Capital Management LP
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [_]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
445,950
NUMBER OF ------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY ------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 445,950
PERSON ------------------------------------------------
WITH 8. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
445,950
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [_]
CERTAIN SHARES
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.5%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
--------------------- ---------------------
CUSIP No. 05873K108 13G/A Page 3 of 10 Pages
--------------------- ---------------------
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Highfields GP LLC
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [_]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
445,950
NUMBER OF ------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY ------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 445,950
PERSON ------------------------------------------------
WITH 8. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
445,950
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [_]
CERTAIN SHARES
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.5%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
--------------------- ---------------------
CUSIP No. 05873K108 13G/A Page 4 of 10 Pages
--------------------- ---------------------
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jonathon S. Jacobson
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [_]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
445,950
NUMBER OF ------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY ------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 445,950
PERSON ------------------------------------------------
WITH 8. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
445,950
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [_]
CERTAIN SHARES
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.5%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
--------------------- ---------------------
CUSIP No. 05873K108 13G/A Page 5 of 10 Pages
--------------------- ---------------------
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Richard L. Grubman
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [_]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
5. SOLE VOTING POWER
445,950
NUMBER OF ------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY ------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 445,950
PERSON ------------------------------------------------
WITH 8. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
445,950
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [_]
CERTAIN SHARES
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.5%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
--------------------- ---------------------
CUSIP No. 05873K108 13G/A Page 6 of 10 Pages
--------------------- ---------------------
Item 1(a). Name of Issuer:
Bally Total Fitness Holding Corporation
Item 1(b). Address of Issuer's Principal Executive Offices:
8700 West Bryn Mawr Avenue, Chicago, IL 60631
Item 2(a). Name of Person Filing:
This statement is being filed by the following persons with
respect to the shares of common stock of the Issuer directly
owned by Highfields Capital I LP, Highfields Capital II LP and
Highfields Capital Ltd. (collectively, the "Funds"):
(i) Highfields Capital Management LP, a Delaware limited
partnership ("Highfields Capital Management") and
Investment Manager to each of the Funds,
(ii) Highfields GP LLC, a Delaware limited liability
company ("Highfields GP") and the General Partner of
Highfields Capital Management,
(iii) Jonathon S. Jacobson, a Managing Member of Highfields
GP, and
(iv) Richard L. Grubman, a Managing Member of Highfields GP.
Highfields Capital Management, Highfields GP, Mr. Jacobson and
Mr. Grubman are sometimes individually referred to herein as a
"Reporting Person" and collectively as the "Reporting Persons."
Item 2(b). Address of Principal Business Office or, if None, Residence:
Address for Highfields Capital Management, Highfields
GP, Mr. Jacobson and Mr. Grubman:
c/o Highfields Capital Management LP, 200 Clarendon Street,
Boston, Massachusetts 02116
--------------------- ---------------------
CUSIP No. 05873K108 13G/A Page 7 of 10 Pages
--------------------- ---------------------
Item 2(c). Citizenship:
Highfields Capital Management - Delaware
Highfields GP - Delaware
Jonathon S. Jacobson - United States
Richard L. Grubman - United States
Item 2(d). Title of Class of Securities:
Common Stock, par value $.01 per share
Item 2(e). CUSIP Number:
05873K108
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or
13d-2(b) or (c), Check Whether the Person Filing is a:
(a) [_] Broker or dealer registered under Section 15 of the
Exchange Act.
(b) [_] Bank as defined in Section 3(a)(6) of the Exchange
Act.
(c) [_] Insurance company as defined in Section 3(a)(19) of
the Exchange Act.
(d) [_] Investment company registered under Section 8 of the
Investment Company Act.
(e) [_] An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in
accordance with Rule 13d-1(b)(1)(ii)(F);
(g) [_] A parent holding company or control person in
accordance with Rule 13d-1(b)(1)(ii)(G);
(h) [_] A savings association as defined in Section 3(b) of
the Federal Deposit Insurance Act;
(i) [_] A church plan that is excluded from the
definition of an investment company under Section
3(c)(14) of the Investment Company Act;
(j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
--------------------- ---------------------
CUSIP No. 05873K108 13G/A Page 8 of 10 Pages
--------------------- ---------------------
Item 4. Ownership.
Provide the following information regarding the aggregate
number and percentage of the class of securities of the Issuer
identified in Item 1.
For Highfields Capital Management, Highfields GP, Mr. Jacobson
and Mr. Grubman:
(a) Amount beneficially owned:
445,950 shares of Common Stock
(b) Percent of class:
1.5%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote 445,950
(ii) Shared power to vote or to direct the vote --0--
(iii) Sole power to dispose or to direct the
disposition of 445,950
(iv) Shared power to dispose or to direct the
disposition of --0--
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report that as of the date
hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities,
check the following |X|.
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
--------------------- ---------------------
CUSIP No. 05873K108 13G/A Page 9 of 10 Pages
--------------------- ---------------------
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
--------------------- ---------------------
CUSIP No. 05873K108 13G/A Page 10 of 10 Pages
--------------------- ---------------------
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 14, 2002
-----------------
Date
HIGHFIELDS CAPITAL MANAGEMENT LP
By: Highfields GP LLC,
its General Partner
/s/ Kenneth H. Colburn
-------------------------------------------
Signature
Kenneth H. Colburn, Authorized Signatory
-------------------------------------------
Name/Title
HIGHFIELDS GP LLC
/s/ Kenneth H. Colburn
-------------------------------------------
Signature
Kenneth H. Colburn, Authorized Signatory
-------------------------------------------
Name/Title
JONATHON S. JACOBSON
/s/ Kenneth H. Colburn
-------------------------------------------
Signature
Kenneth H. Colburn, Attorney-in-Fact
-------------------------------------------
Name/Title
RICHARD L. GRUBMAN
/s/ Kenneth H. Colburn
-------------------------------------------
Signature
Kenneth H. Colburn, Attorney-in-Fact
-------------------------------------------
Name/Title