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In recent years, due to the adjustment of economic structure, the people’s living standard and the increase of leisure time, the sports industry has become a new economic growth point. This paper studies and analyzes the characteristics of the industry background and business background of the sports industry, explores the factors and internal driving force affecting the design of its business model, and fully analyzes the mechanism, functional role, and logical relationship of the elements for constructing the business model of the sports industry, and then explores the characteristics of the business style of the sports industry. From the perspective of knowledge state, using the reinforcement learning mechanism, the evolution process of the sports industry business model from the first stage to the fourth stage is described. Taking Company H as a research case, the process and economic effect of the transformation and upgrading of its business model through the reinforcement learning mechanism is analyzed and it is found that as of 2023 the company’s operating income has increased by 2.4 times through transformation and upgrading, and its net profit has increased by 125.57 percentage points compared to 2016. It further understands the role that the enhanced learning mechanism brings to the development of the sports industry, and expects to be able to provide a reference for the sports industry to carry out business model transformation in the future.