It is widely recognized that sports businesses run by sports associations have a public interest and that sports associations will be able to act as social capital. Simultaneously, the sports business has certain profitability and also attracting attention as a new growing industry. In this way, how should we institutionalize the business that integrates public interest and profitability in society? <br>This paper confirms the affinity of a cooperative association and sports business, referring the sports associations registered under “The Industrial and Providential Societies Act.: IPS” enacted on 1852 in UK, the birthplace of modern sports. The IPS institutionalized the cooperative philosophy proposed by R. Owen. Although cooperative laws are also available in Japan, there are no examples of sports associations registered and not possible to be registered as a cooperative in Japan.<br>Japan's cooperative laws differ from the UK in terms of its limitation for business territory and conditions for becoming a member. In the UK, there are basically no restrictions on the operating businesses and the qualifications to be a cooperative member. In Japan, however, the operable business are regulated within a specific business, and the members are limited within a certain local area or occupation. Since a cooperative can enjoy preferential tax systems both in UK and Japan, higher requirements are applied in governance compare with a company. In UK, democratic governance by a wide range of citizen members is required. Whereas in Japan, the licensing and auditing authority supervises the governance. <br>Through the observation of UK sports associations registered under IPS, they have gained economic sustainability through a sporting business with a certain profitability, which makes them possible to provide sports business that is not economically viable but having public interest. Through the integration of these businesses, sports association is developing to a social capital. We should also pay attention to the widely recognized instinct nature of sports, such as developing weak tie and cohesion among the people. By this nature, the association itself could be a symbol of a community, and then help them to be sustainable over the generation. <br>In Japan, there is no juridical personality that fit and designed for such sports associations. The establishment of a cooperative-type juridical personality that can be used for sports associations will also help sports associations to provide public interest to society in more effective manner.