We can stand in awe of the pyramids while understanding the slave labour and misery that comprised their construction. Similarly, amid the politics and pain that engulf and sometimes threaten to ______professional sport, there is also a/an _____ that can take your breath away.

The sentence contrasts negative aspects (politics, pain) with positive aspects (beauty, art) in professional sport. 'Smother' means to overwhelm or suppress completely - politics and pain could smother professional sport. 'Art' represents the beautiful, breathtaking aspect that can emerge despite the negativity. This parallel structure matches the pyramid construction example.