Designing a logo for sports championship

Start by creating a rounded rectangle using rounded rectangle shape tool. Double click the layer to open layer style window. Apply stroke layer style.

Press Ctrl+T. Right Click and select perspective. Adjust the nodes to get a shape as shown.
Select the top two nodes using direct selection tool. Move these nodes a few pixels downwards to get the shape of a baseball bat.

Create a rectangle using rectangular shape tool.
Press Ctrl+T. Right Click and select Warp. Select fish from preset warp shapes on top bar. Apply settings as shown.
Press Ctrl+T and rotate the shape by 90°.

Enable "subtract from shape area" at the top bar. Create a rectangle using rectangular shape tool.

Place the resulting shape as shown.
Select the main baseball bat layer. Double click the layer to open layer style window. Apply settings as shown.

 

Apply same layer style to all layers.
Select and merge all layers of bat. Press Ctrl+T and rotate by a few degrees. Duplicate the layer. Press Ctrl+T. Right click and select Flip Horizontal and place as shown.
Using custom shape tool create a sign 5 shape. Move this layer below all the layers in layer order in layer palette.
Apply a thick stroke layer style to this shape.

Create a circle using elliptical shape tool.

Double click the layer to open layer style window. Apply settings as shown.
Create a rectangle using rectangular shape tool.
Press Ctrl+T. Right Click and select Warp. Select Arc from preset warp shapes on top bar. Apply settings as shown.
Create a rectangle using rectangular shape tool.
Enable "subtract from shape area" at the top bar. Using pen tool create a ribbon end shape as shown.
Press Ctrl+T. Right Click and select Warp. Select Arc from preset warp shapes on top bar. Apply settings as shown.
Move this layer below all the layers in layer order in layer palette. Duplicate the layer. Press Ctrl+T. Right click and select Flip Horizontal and place on the other side.
Type championship name using a bold font.
Click warp text button from top bar. Apply settings as shown.
Select and merge all layers. Double click the layer to open layer style window. Apply settings as shown.