This text tends to shed light on the current position and role of sport, as a kind of contemporary phenomenon, which follows the outlines of dominant global trends, but which, therefore, causes various consequences for individuals, groups and entire societies. It is the result of the analysis of this phenomenon done during the preparation of the master thesis “Sport as a Phenomenon of Contemporary Culture” at the Faculty of Political Sciences, University of Belgrade, and therefore includes one part of it. In considering the phenomenon itself, it starts from the perspective of contemporary cultural studies and tries to see the place of sport in current social movements. Thus, the accent is on its place and role, and also on the causes and consequences of the process of which it is obviously a part of. Starting from its primary features and functions, the focus is on those elements that are an evident part of every sporting event today; the positive ones, which encourage models of behaviour that bring the modern individual closer to the ancient ideals of the athlete, but also the negative ones, which are the reverse of such aspirations, and which today, due to these global trends, are accompanied by the race for money and popularity. These are negativities that have become a completely acceptable component of sport over time, and the consequences of which, however, are not talked about enough, although they are often in the foreground, pushing to the margin those original motives of chivalry and Olympism. In that way, the very essence of the existence of sport and sports competitions is gradually being suppressed.