The present study aims to develop a model for the development of virtual media in Iranian professional sports clubs. This research employs a grounded theory approach with a constructivist perspective. The participants included professors in the field of physical education and sports science (with a focus on sports management), researchers in sports media, and CEOs of sports clubs. Purposeful sampling and the snowball sampling technique were used to conduct in-depth interviews. Throughout the sampling process, three stages—open, relational, and theoretical sampling—were followed, adhering to the constructivist grounded theory approach. Data collection was halted after 20 interviews due to data saturation. After reviewing theoretical foundations, raw data were inductively extracted from in-depth interviews with experts and specialists, and were simultaneously analyzed using the constructivist grounded theory approach. In this study, 245 initial concepts or codes were identified. In the second phase, 31 primary categories were derived, followed by axial coding, which resulted in 7 main categories based on semantic affinity: shared economy creation, policymaking, social image, prominence, modernization, awareness-building, and institutionalization.