When NASCAR constructed a racetrack inside the L.A. Coliseum, it enabled 70% of the people in attendance to witness their first NASCAR race.getty images
No. 6: Los Angeles
Score: 56.3
The City of Angels checks nearly all the boxes. As far as quantitative data, L.A. and New York lead the industry in most categories. But the cost of doing business and standard of living concerns weighed heavily in our algorithm. As one executive put it: “It’s hard to recruit people to move here, and our clients aren’t crazy about visiting. It’s more about cost than desire.”
Sports properties (29): Los Angeles sits behind New York City as the overall largest sports footprint, highlighted by 22 top-tier events (most in the industry). Los Angeles has hosted a Super Bowl, multiple all-star games, pro golf (including the 2023 U.S. Open), NCAA basketball tournaments, CFP title games and The Breeders’ Cup. And that’s about 20% of the list.
Sponsor footprint (73): Most would recognize that Los Angeles is the country’s entertainment capital (14 major media headquarters), but the market’s corporate sponsor roster is also impressive, with notable brands like Oakley, Honda, Monster Energy, Red Bull, Taco Bell and Beats Electronics calling SoCal home.
Facilities: SoFi Stadium is a $5.5 billion marvel, specifically designed with the Super Bowl in mind (it hosted in 2022). The new home of the Clippers, the Intuit Dome, opens in 2024. And talk about a creative solution: re-imagining the recently renovated L.A. Coliseum as a NASCAR track enabled 70% of fans to attend their first NASCAR race.
Cost: Los Angeles gets pinged for its high cost of living, which is 51% above the national average. The average home price, sitting just shy of $1 million, is 132% higher than the national average.
Getting around: Critics will always bring up the issue of traffic. And it’s true that the sports venues in the market are spread over a wide area, limiting the ability to visit more than two or three properties in a single day.
Did you know … : It’s no surprise that Los Angeles is home to some of the most powerful sports agencies in the country — nine of the top 50 sports agencies are headquartered in the city.
What they’re saying: “It’s just too hard to navigate. If you’re planning an event, expect people to be late. I also think our industry is fairly apathetic and unimpressed with substance. If you don’t deliver flash, celebrity and free stuff, forget about it.” — D.M.
