|（School of Journalism and Communication，Nanjing Normal University，Nanjing 210097，China）
Abstract: TV relay right of contest is a link to connect the sports industry with the media industry. It is the eco-nomic lifeline of modern professional sport, and the resource with high quality contents for mass media. The fact that TV relay right becomes a precious commodity is determined by the supply and demand relation, the result of helping and gaming between sports organizations and communication institutions. In recent years, the rapidly ex-panding game scale and billions of relay fees have enlarged business risks of TV institutions. If a TV station makes a little mistake, it may slip to the edge of bankruptcy. Therefore, sports organizations and TV institutions should all gain an in-depth insight into market patterns and pricing strategies behind TV relay right, and help TV institutions avoid business risks by means of risk prediction, mutual support and resource development, so as to boost the de-velopment of modern competitive sport.
Key words: sports；TV relay right；value pattern；business risk