Sports development can lead to the emergence of external economies, which forms part of the spillover effects on regional economic growth under certain conditions. This study uses a sample of 31 provinces in China from 2008–2012 to construct a panel data model to examine the role of sports development in the regional economic growth in the C-D function. The results indicate that sports development indeed brings a good incentive effect to the economy in all areas, which suggests a spillover effect of Chinese sports development that stimulates regional economic growth, but this spillover effect reflects a greater difference between different regions. Overall, Hebei, Jiangxi, Henan, Hubei, Hunan, and Sichuan have the highest coefficient of sports investment on economy, but Jilin is relatively weak.