Abstarct: The aim of this study was to identify and prioritize risks of sport events (case study: Iranian cultural and sport Olympiads of universities). The method of research was Qualitative and quantitative. Review of literature and documents, interviws and surveys were used to for collecting the data. All managers of Olympiads and supervisors of sport teams were population of this research. Because of the dispersion population was used of nonrandomly and available sampling 125 persons was selected as sample. After determination of validity and reliability to collect data was used researcher made questionnaire. Face and content validity of the questionnaire by 20 experts from the fields of management and sports event were review and approved. The reliability of questionnaire were calculated by Cronbachs alpha 0.92 respectively. This questionnaire consisted of 30 items with 5 elements that include: 1- hardware infrastructural, 2- Sociocultural, 3-political-security 4- economical 5- Manegeral. At the end of components were prioritizing according to the Friedman test. The results showed Weakness of managerial factors, political, economic, infrastructural and Socio-cultural have the highest impact on risks of universities sport olypiads respectively.