Smart cities allow cities to run more efficiently and have been approved by a lot of cities. During the process of building smart cities, a large amount of data is generated. Particularly, live sports events have been regarded as the inalienable part of smart cities. However, with the improvement in the quality of life, people tend to obtain better watching experience in terms of sports events. For such purpose, this paper proposes the live streaming transmission optimization method based on high-performance server, called HPTO, including two main modules, that is, high-performance server optimization and transmission optimization. Specifically, for the server optimization, this paper devises a distributed storage strategy to avoid producing the internal disk fragments and improve the writing efficiency of sports videos. For the transmission optimization, this paper devises a deep-learning-based video compression strategy to save the storage space of server and accelerate the transmission of sports videos. In addition, this paper makes simulation experiments based on PyCharm. The experimental results show that HPTO has higher storage efficiency, smaller transmission time, and lower packet loss rate than benchmarks, which indicates that the proposed two aspects of optimization strategies (server optimization and transmission optimization) are efficient.