It could offer a couple options. One being the main view is like you are there. You see the court in a huge view in your main view. Then, similar, but way better than in person, you have several big views off to the side, for replays, stats, maybe following a view of your favorite player... I would think they we have a way to make it so your view (switches as the action on the court switches to the other basket). That will have to be a good design but just the idea of something like teleporting from your seat with a great view of this half of the court to now having it on the other half.

And for other sports even better I think. With say soccer/football and football (USA) you can have a big overview (like you are sitting at midfield) but then camera angles for closer view of the action...

I think sports viewing could really be incredible. Figuring out exactly how to do it well will take awhile. But it seems to me the kind of thing Apple could do very well.