Selective focus
"For sport though you want to maximise the chance of being in focus on fast-moving subjects, so a razor thin DOF is a bad idea: you need to close down the aperture to avoid that, so upping the ISO is the only real in-camera option left."
The above is generally true, especially for less experienced photographers.
Although the learning curve of using a wide aperture with narrow depth of field in shooting sports is rather steep, the results are often gratifying. The ability to isolate individual players from the background can make a rather mundane shoot look rather spectacular. You can often see examples of the effective use of narrow depth of field in the Sports Illustrated magazine images and you can often see images with not only the subject but the background in focus posted on this and other forums. These posts are usually from new photographers who have not mastered the skill of using a wide aperture lens or do not have one to use.
Although, using a wide aperture is generally effective in isolating specific subjects, it is not the only way to do that.
I was just shooting the Unlimited Hydroplane Races at San Diego's Mission Bay with a 400mm f/5.6L lens. I could not get the blurred background I wanted to isolate the hydroplane using f/5.6. So I opted to shoot the boats coming out of a turn so that the "roostertail" would be the background rather than the mess of people and lift cranes onthe opposite shore. Another way would have been to shoot down from a high angle but, I had neither a helicopter nor a lift platform available.
This is an additional reason besides allowing a faster shutter speed (or lower ISO) and faster and more accurate focus (on some camera models) that many sports photographers will opt for the 70-200mm f/2.8L lens over the f/4 models of that focal length.
HOSTED PHOTO
please log in to view hosted photos in full size.