I’ve come up with four. They are:
Yellowcard (which is a soccer term)
Five For Fighting (a hockey penalty)
Nickleback (a football position)
Fastball (a pitch in baseball)
Any others come to mind?
The Outfield (baseball)
Luscious Jackson (after baseball player Lucius Jackson)
Vida Blue - Page McConnell, Oteil Burbridge, Russell Batiste; named after the former Oakland A’s pitcher.
Pearl Jam (basketball)
Sweethearts of the Rodeo
And I presume that Sugar Ray is named after “Sugar” Ray Robinson.
Never heard of the band, but if, as I suspect, it’s modern, it’s more likely they named themselves after Sugar Ray Leonard.
No sense of history, these young folks.
Surfaris
Butthole Surfers
Damn Yankees (possible baseball)
Dropkick Murphys
Everlast
They had a big hit or two in the mid-90s… yeah, you’re probably right. At least it’s a boxer either way. 
I never knew that. What does it mean?
Darts - crappy late 70’s British rock and roll revival band.
A seminal Aussie new wave band was The Sports and it was pretty good stuff.
Smashmouth. (Usually a term for a football game being more brutal than normal.)
Indirectly, I’d say. It was a Broadway play that opened in 1955, made into a movie in 1958. It’s a retelling of the Faust legend in the baseball arena.
Pearl Jam was named after Earl “The Pearl” Monroe, a basketball player for the Knicks in the 70s.
And while I’m not up on my Pearl Jam history completely, that wasn’t the first choice. The first choice was some other athlete’s full name that I can’t remember for the life of me.
All-Time Quarterback
American Football
Both are really good bands, I highly recommend them
~S&S
Mookie Blaylock. The story goes that their first album was called Ten because that’s the number Mookie wore.
“Fastball” is also the name of the band members’ favorite porn flick, which is what they named themselves after.
According to Eddie Vedder, the name “Pearl Jam” is essentially meaningless. The band found they were unable to use the name Mookie Blaylock for trademark reasons, and had to come up with something else in a hurry. Vedder apparently liked the word “Pearl” because of multiple positive associations, including (as Justin_Bailey mentioned) Earl “The Pearl” Monroe and the Janis Joplin album. He’s also said that he often tells people that the initials “PJ” were inspired by Phil Jackson’s name.
In Japan, there’s SMAP – “Sports Music Assembly People”, best known for their TV variety show.