There have not been a lot of big splashes this offseason so far for most MLB teams and that includes the SF Giants. A potential lockout after the 2026 season may be part of the reason why, but the Giants' TV deal may also have something to do with it.
In a recent article for The Athletic, Giants beat writer Andrew Baggarly fielded questions from fans and included an important nugget in one answer to a fan's question about the team's slow offseason thus far:
"Don’t forget that the Giants get a chunk of their rightsholder fees from NBC Sports Bay Area as a percentage of revenues, and the cord-cutting era is killing the golden goose: all that passive income from cable subscribers who paid for the sports channels even if they didn’t want them.