A sports afternoon (13:00–17:00) is the most popular choice for smaller groups or when people have other commitments afterwards. A sports day (10:00–17:00) gives more room for multiple activities, an extended lunch and a closing moment.
Want to turn it into a full day-and-evening combination? Add another 3–4 hours for drinks or dinner after the sport. That's the moment when the real bonding happens: when the adrenaline has settled and everyone gathers in a relaxed way.
When planning, factor in travel time, changing time and the energy curve of your participants. After intense sport, you don't want to schedule a long presentation.