This paper argues that sport is not about conflict but competition, not about violence but controlled aggression, neither is it amoral and value-free but is itself a moral enterprise. The paper provides an analysis of the internal values and the internal logic of sport, which combine to ‘make peace’ via their isomorphism with political liberalism, especially the liberal idea of the ‘contract to contest’, and its emphasis on equality, respect, mutuality and other ‘human rights’ values. It is not only just sport's popularity, but also this peacemaking capacity of sport, which informs its peacekeeping potential.