Available as an option in the UK, I have the sport suspension on my MC.
Bit of a mystery as the handbook, somewhat unhelpfully, only tells you that if sport mode is selected then the car will be in sport mode.
Sport mode changes...
Engine mapping, making for better throttle response.
Gearbox mappping, upshifts happen at higher revs.
ESP and other other electronic driving aid functions.
Steering is firmer.
I also get the impression that the suspension is harder - I could be wrong though, depends whether 'adaptable' = adaptive
Skoda (aka VW) are a bit secretive on what sport mode actually is/does,
I have the 1.5 TSI + DSG auto (7 speed), selecting 'sport' position on the auto selector has, as far as I can tell, has an identical effect to the throttle and gearbox mappings.