The strategy aims to turn Auckland into a world leader for high-performing sport training and technology businesses.
"The opportunity for Auckland in the sports sector is even greater than simply hosting large events," Mr O'Riley said.
Areas like sports nutrition, wearable sports technology and sports training were worth more than US$50 billion ($73 billion) - annually, with rapid growth predicted over the next decade, he said. "If Auckland is able to grow its market share even slightly ... there is huge potential for economic gains."
Mr O'Riley said a forum on Friday, jointly hosted by Callaghan Innovation and High Performance Sport NZ, would bring members of the sports industry together and provide an opportunity for sport technology companies to profile their innovations.
Six sport tech businesses will also be presenting their innovative new products and services.
Massey University sociologist Paul Spoonley said Ateed was right to focus on the opportunities that are on offer because sport was "big international business".
However the author of a 2009 report, "Sport and Cultural Diversity," criticised the Ateed approach as being "rather orthodox".
He said an "obvious opportunity" was for Ateed to help regional sports organisations to expand their appeal to diverse communities here, rather than look overseas.
A full financial feasibility report is expected by June.
Hi-tech dollars
Where $100 million annually for Auckland could come from
• Cryotherapy: the use of low temperatures, which start at or below -150C, to help athletes speed recovery and treat a variety of tissue damage.
• Kinesiotherapy: treatment to help enhance overall physical conditioning, and used to improve endurance, mobility and strength.
• Sports training: setting up sports academies similar to the world famous IMG Tennis Academy in Florida.
• Innovation: becoming a test bed for sports research and development.