The Atlanta Braves, known as one of the best teams in Major League Baseball both on and off the field, are preparing to separate from their parent company, Liberty Media, and become their own public entity. This move is expected to be finalized on July 18, establishing the new entity called Atlanta Braves Holdings Inc.
The split is part of a reorganization plan announced by Liberty Media in November 2022, with the goal of emphasizing the value of the Braves and offering more options for investors. Greg Maffei, the president and CEO of Liberty, highlighted the desire to better showcase the Braves’ worth and provide increased investor choices.
The Braves have achieved remarkable success in recent years, boasting the league’s top record, five consecutive division titles, and winning the 2021 World Series. They have also excelled in various business aspects, including high attendance figures and the successful development of their mixed-use complex, the Battery.
In addition to their off-field accomplishments, the Braves have made strategic long-term investments in their roster by securing the contracts of seven key players until at least 2027.
Liberty Media reported a 35% increase in the Braves’ revenue for the first quarter of the year, amounting to $31 million. This growth was attributed to strong attendance at Truist Park early in the season and increased rental income from the Battery. The team’s 2023 attendance continues to perform well, showing a 3% increase with an average of 39,076 fans per game, ranking sixth in the league.
However, the Braves’ separation from Liberty Media has sparked speculation about a potential sale of the team in the future. The New York Mets, the most recent MLB club to be sold, was acquired for a record-breaking $2.4 billion in 2020, fueling rumors about the Braves’ potential value in the market.