Examining Li traditional sports culture’s inheritance and innovation status from the non-heritage perspective can guide its further inheritance and development. This paper measures the level of inheritance and innovation of traditional sports in the Li ethnic group using a multi-dimensional analysis perspective. A consumption-based inheritance mechanism is proposed to assess the impact of traditional culture inheritance from the consumption perspective. The measurement indexes are standardized, and weights are assigned objectively to them to obtain the development index of the sports and culture industry of the Li ethnic group through the use of the entropy weight method. Synthesizing the characteristics of the sports and culture industries, a quantitative assessment model of the consumptive inheritance effect is constructed, and the DEA benefit index of the Li sports industry is measured simultaneously. Based on the three dimensions of emotional value, innovative development of the cultural sector, and cultural protection and inheritance effect, a quantitative assessment of Li sports culture’s inheritance and innovation effect is conducted. Through the model, the development value of Li sports resources was calculated to be 75.51 points, which has achieved good results while preserving cultural heritage. In the comprehensive effect of Li traditional sports culture protection, the scores of cultural and social benefits are 8.89 and 8.48, respectively, at a reasonable level. Still, the economic benefit is only 4.28, the lowest among the three dimensions. The study acknowledges the problems that persist in the inheritance of Li sports culture and recommends an efficient path for development.