The era of 5G Internet of Things (IoT) has changed people’s daily life, brought great convenience to people’s clothing, food, housing, and transportation, and also changed the management mode of physical education in colleges and universities (CAU). The research purpose of this paper is to make college physical education have a better management method in the IoT era. The intelligent management mode in the IoT era is deeply integrated into sports management (SM), and a new mode of college SM is created. This paper uses the questionnaire survey method to analyze the management status of 12 colleges and universities in a city from the aspects of sports course management, sports venue management, physical education teacher management, student and sports management, and so on. The results show that most colleges and universities only implement part of the physical education management system, the sports venues are inconsistent with the curriculum, teachers and students are not satisfied with the use of sports equipment, and the training system for physical education teachers is not perfect. The current situation of sports management reflects the problems in colleges and universities in sports management. In this regard, this paper puts forward suggestions for improving the management of sports teaching, hoping to promote the reform of intelligent management in colleges and universities.