The aim of the current study was to reconstruct the sport venue quality dimensionsas an autonomous quality with a utilitarian perspective and examine the impact on spectators’ perceived risk, price perception, and sustained consumption intentions. Venues for National Basketball Association (NBA) and Major League Baseball (MLB) games that mostly represent indoor and outdoor sporting facilities were chosen, and subjects were spectators who have experience of attending professional team sport events in sport venues. The study employed an online survey for data collection, and a total of 595 samples were utilized for data analyses. The data set was randomly split into two halves for a principal component analysis and a confirmatory factor analysis, respectively. Results of the PCA generated 11 factors for venue quality including seating comfort, facility aesthetics, layout accessibility, safety, cleanliness, seating view, space allocation, facility system, electronic device, parking, and signage. The reliability and validity of the measurement model were also confirmed. In the structural model analyses, venue quality was found to be significantly associated with perceived value, perceived risk, and sustained consumption intentions. The relationships among perceived value, perceived risk, and sustained consumption intentions were also positively significant. The mediating effects of perceived value and perceived risk were found in the relationship between venue quality and sustained consumption intentions. The findings of the current research will contribute to the sport management literature by providing meaningful insights on capturing the essence of sport venue quality, based on an autonomous quality, and how it affects spectators’ price perception, alleviates perceived risk, and leads to sustained consumption intentions.