Sports media market: San Francisco-Oakland-San Jose, California

The Bay Area sports media market is a vibrant hub in the U.S., known for its rich history of professional teams and dedicated fan base. Featuring prominent franchises, it is ranked as the 10th largest designated market area (DMA), according to Nielsen. The landscape has also been transformed in recent years with the 2020 relocation of the Raiders to Las Vegas, and the Athletics current transition to Vegas for the start of the 2028 MLB season. The interaction between these teams and their media partners creates a dynamic ecosystem that highlights the economic importance of sports in the region.

The most valuable NBA franchise

The Golden State Warriors are the premier franchise in the NBA, leading the league with an estimated revenue of nearly $900 million last year. This marks their fourth consecutive season at the top, significantly outpacing the league's average revenue of just over $400 million. Their financial success is attributed to on-court performance, strategic marketing, and strong fan engagement, resulting in high-profile sponsorships and premium seating investments. The Warriors have a valuation of approximately $11 billion, making them one of only three North American franchises valued at $10 billion or more, alongside the Dallas Cowboys and the Los Angeles Lakers.

Current dynamics of regional coverage in the Bay Area

The current landscape of regional sports networks (RSNs) in the Bay Area is defined by strategic partnerships between NBCUniversal Media LLC and several local teams. NBC Sports Bay Area (US) serves as the primary broadcaster for the San Francisco Giants and the Warriors, while NBC Sports California (US) covers the San Jose Sharks, Oakland Athletics and the nearby Sacramento Kings. This collaboration enables the networks to deliver comprehensive coverage of major sports events, catering to the region's passionate fan base. Additionally, NBC Sports has expanded its reach by offering direct-to-consumer (DTC) coverage through Peacock.

The Athletics' contract with the RSN will reportedly expire once the team relocates to Las Vegas, which is scheduled to occur prior to the 2028 MLB season.

Private equity invading Bay Area as 49ers and Giants sell minority stakes

Private equity investment in Bay Area sports has surged as leagues relax restrictions, attracting firms seeking high returns. The Warriors partnered with Arctos Partners, selling a total of 13% of the franchise, significantly increasing its value from $5.5 billion to over $10 billion. The 49ers sold 6% of their franchise for over $500 million, maintaining a valuation exceeding $8.5 billion, while the Giants sold a 10% stake to Sixth Street Partners for approximately $380 million, aiming to upgrade Oracle Park. The Earthquakes are exploring a potential sale amid changing dynamics in the sports investment landscape. Additionally, Sixth Street Partners acquired a controlling interest in Bay FC for $53 million, with plans for team development and a potential new stadium.

Valkyries debut with a historic WNBA inaugural season

The Golden State Valkyries, launched in 2023 and debuting in 2025, have made a significant impact in the WNBA by securing over 20,000 season-ticket deposits before their first game. They sold out all 22 home games this season, averaging over 18,000 attendees and setting a WNBA record. Their community engagement efforts, including partnerships with local companies like Chase and Kaiser Permanente, have driven merchandise sales nationally. The team also saw a 19.8% increase in social media followers from May to August 2025. Looking ahead, owner Joe Lacob aims for a championship within five years, leveraging their successful inaugural season and modern facilities to attract top free agents.

Bay Area represents key destination for major events

The Bay Area is a premier destination for major sporting events, with several high-profile opportunities on the horizon. In 2025, the NBA held its 74th All-Star Game at Chase Center in San Francisco, marking the venue's first time hosting the event since its opening in 2019. The Bay Area is also positioning itself as a strong contender for future MLB All-Star Games, with the Giants vying to host the 2028 All-Star Game, particularly if MLB players participate in the 2028 Los Angeles Olympics.

The Bay Area is poised to host Super Bowl LX at Levi's Stadium in February 2026, marking a significant return to the region after the success of Super Bowl L. In addition to this prestigious event, Levi's Stadium will play a vital role in the 2026 FIFA World Cup, hosting six matches during the tournament.

Earthquakes, Bay FC maintain strong following in Bay Area

The San Jose Earthquakes and Bay FC have established the Bay Area as a prominent soccer destination. The Earthquakes, valued at nearly $550 million, attracted over 50,000 fans for a match against LAFC at Levi's Stadium, showcasing the venue's capacity for the upcoming 2026 World Cup. Bay FC set a league attendance record with over 40,000 fans at a game against the Washington Spirit, marking the largest crowd for any women's professional league event in the U.S. Their second season has seen an 8% increase in average attendance.

Departure of Raiders and Athletics leaves Oakland without major sports team

In contrast, the departures of the Raiders and Athletics have left Oakland without major league teams. The Raiders relocated to Las Vegas in 2020, followed by the Athletics, who temporarily moved to Sacramento for the 2025-2027 seasons as part of a strategy for a permanent move to Las Vegas by 2028.

The Sacramento relocation was viewed as a necessary step for their local television deal with NBC Sports California, vital for the team's revenue. Prior to the move, the A's renegotiated their RSN agreement with NBCUniversal to ensure continued game broadcasts, allowing them to capture a significant portion of their local rights fee, which was over $60 million in 2024.

According to data from S&P Global Market Intelligence Kagan's US MediaCensus online consumer survey, MLB viewership in the Sacramento-Stockton-Modesto market has already seen a substantial increase, climbing to 41% in 2025, up from 31% the previous year. Meanwhile, the A's are expected to see a gradual increase in viewership in Las Vegas as well, with the percentage of respondents watching MLB games rising from 26% to 29% over the past year.