The sport package entails sport-tuned suspension, sport seats, three-spoke steering wheel, black body trim (as opposed to chrome), bigger wheels/tires, and (maybe) a few ///M badges here and there.
There was no performance package for the 5 Series. Ask the seller is he or she meant "premium package," which is a bundle of luxury options that saves the buyer money when compared to getting each option individually: leather seating, power memory seats, and sometimes things like integrated garage opener and auto-dimming mirrors, but the latter two seem to have come to the lineup more recently.
The only "performance package" from BMW was for the mid-2003 through 2005 330i sedan, and the 2004-2006 330Ci coupes and convertibles.
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