I have long known that watching sports and playing with fiber go well together. When I was growing up I would watch football with my stepfather and I would knit. As an adult, I knit while watching baseball and football (although recently the Seahawks have been too exciting to knit to).
There are group fiber events coinciding with sporting events now. The Tour de France, Iditarod and the Olympics all have coinciding fiber competitions. I think the Winter Olympics are perfect for this. There is something about playing with wool and looking at snow (and odd sports) that just goes together. So this year I am actually participating in the Ravellenic Games on Team My Favorite Sheep and am going to weaving a shawl completely out of yarn from our Shetland sheep. Hopefully I make it to the finish line!
If you are on ravelry.com you can follow my progress at http://www.ravelry.com/projects/donnaschoon/schoonover-farm-shetland-shawl