Introduction: Despite possessing substantial social capital for public participation, the sports club system in Iran continues to face structural challenges. The objective of this study is to explain participatory models grounded in the cooperative economy for transforming investment in Iranian sports clubs and to propose a framework for institutionalizing such participation.

Methods: This research adopts a qualitative design employing two complementary strategies: thematic analysis and comparative analysis. Data were collected through 18 in-depth semi-structured interviews with experts in sport and economics, along with an analysis of 26 selected national and specialized policy documents. A three-stage coding process was applied for qualitative data analysis, while a four-stage framework guided the comparative analysis.

Results:The thematic analysis identified six principal themes: aggregation of small-scale capital, democratic governance, financial transparency, economic resilience, community engagement, and sustainable development. Comparative analysis of participatory club models in Spain, the United Kingdom, and Germany, in relation to Iran, revealed that the primary gap in Iran lies not in the absence of social willingness to participate, but in the weakness of legal and institutional mechanisms required to convert such participation into sustainable investment models within sports clubs.

Conclusion:The findings culminate in an integrative framework demonstrating that the cooperative economy is not merely a supportive financial mechanism but a strategic approach to restructuring investment in sports clubs-provided that social participation is embedded within transparent, accountable, and institutionally disciplined governance structures. The results offer a scientific foundation for macro-level policy-making and for redesigning ownership and management systems in Iranian sports clubs.