【摘要】 以体育PPP模式REITs的内在逻辑与时代价值作为研究对象。首先，在对PPP和REITs进行阐释的基础上，对两者的逻辑关系进行分析，研究发现体育PPP模式为REITs提供了大量优质资产来源，而REITs为体育PPP模式提供了新的融资渠道并提高资金的流动性。其次，研究发现体育PPP模式REITs的时代价值主要体现在三个方面：拓宽体育资产融资渠道，为防范化解政府债务提供借鉴；降低私营部门高杠杆率，提高资产周转率支持规模开发；破除体育企业参与门槛，实现体育公共服务高质量供给。更多还原

【Abstract】 This study focuses on the internal logic and time value of REITs applied to sports PPP. Firstly,based on the explanation of PPP and REITs,analyze the logical relationship between PPP and REITs,the study shows that sports PPP provides a large number of highquality asset source for REITs,while REITs provide new financing channels and improve the liquidity of funds for sports PPP projects. Secondly,this study shows that the time value of REITs applied to sport PPP is mainly reflected in three aspects:expand financing channels for sports assets and provide reference for preventing and resolving government debts;reduce the high leverage ratio of the private sector and improve the asset turnover to support largescale development;break the entry barriers for the sports enterprises and achieve high-quality supply of sports public services.更多还原