Multimodal Large Language Models (MLLMs) are advancing the ability to reason about complex sports scenarios by integrating textual and visual information. To comprehensively evaluate their capabilities, we introduce SPORTU, a benchmark designed to assess MLLMs across multi-level sports reasoning tasks. SPORTU comprises two key components: SPORTU-text, featuring 900 multiple-choice questions with human-annotated explanations for rule comprehension and strategy understanding. This component focuses on testing models' ability to reason about sports solely through question-answering (QA), without requiring visual inputs; SPORTU-video, consisting of 1,701 slow-motion video clips across 7 different sports and 12,048 QA pairs, designed to assess multi-level reasoning, from simple sports recognition to complex tasks like foul detection and rule application. We evaluated four prevalent LLMs mainly utilizing few-shot learning paradigms supplemented by chain-of-thought (CoT) prompting on the SPORTU-text part. GPT-4o achieves the highest accuracy of 71\%, but still falls short of human-level performance, highlighting room for improvement in rule comprehension and reasoning. The evaluation for the SPORTU-video part includes 6 proprietary and 8 open-source MLLMs. Experiments show that models fall short on hard tasks that require deep reasoning and rule-based understanding. GPT-4o performs the best with only 57.8\% accuracy on the hard task, showing large room for improvement. We hope that SPORTU will serve as a critical step toward evaluating models' capabilities in sports understanding and reasoning. The dataset is available at https://github.com/chili-lab/SPORTU.