• Loading stock data...
Friday, December 13, 2024
    More
    Finance

    Brave Losses

    By
    Aug 10, 2020 | 08:06 pm
    UPDATED Aug 10, 2020 | 10:38 pm
    Atlanta Braves
    Adam Hagy-USA TODAY Sports
    Liberty Media’s quarterly earnings reports gave a peek at the massive loss the coronavirus pandemic dealt Major League Baseball teams. Liberty owns the Atlanta Braves and reported the team suffered a 95% year-over-year second quarter revenue loss.

    Between April and June, the Braves generated only $11 million, down from 2019’s $208 million. There was a 97% drop in baseball revenue and a 40% drop in the team’s Battery Atlanta development.

    Liberty also owns Formula One and a stake in Live Nation Entertainment. Formula One’s revenue was down 96% to $24 million.

    The company reported a 32% quarterly revenue drop to $1.91 billion, which resulted in a $326 million loss. Last year, the same quarter resulted in a $116 million profit.

    Linkedin
    Whatsapp
    Copy Link
    Link Copied
    Link Copied

    What to Read
    by

    The Top-Secret Operation to Create the Army-Navy Football Uniforms
    The two-year process includes dozens of employees, NDAs, and military historians.
    Cody Bellinger
    by

    The Astros Cheating Scandal Still Looms Large Five Years Later
    It may end up a major factor in the Cubs’ and Yankees’ offseasons. 
    Indiana Fever forward Aliyah Boston (7) celebrates with Indiana Fever guard Caitlin Clark (22) altering recording a triple-double Wednesday, Sept. 4, 2024, during the game at Gainbridge Fieldhouse in Indianapolis. The Indiana Fever defeated the Los Angeles Sparks, 93-86.
    by

    The Meteoric Rise of Women’s Basketball in 2024
    The business of women’s basketball exploded this year.
    by

    Mets: Not Concerned About Lower-Revenue Clubs After Soto Signing
    The club dismisses concerns about fundamentally resetting the sport’s salary scale.

    Featured Today

    Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena
    by

    ‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern
    A season after Jontay Porter, the biggest risk may not be players.
    Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
    opinion
    December 7, 2024

    College Football’s Billionaire Backer Era Begins
    Is this the new normal in CFB recruiting?
    LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
    December 6, 2024

    With or Without Messi, Major League Soccer Is Barreling Into the Future
    After the Cup final, the league looks to accelerate its growth.
    Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
    December 2, 2024

    FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World
    Resentment and frustration over expanded schedules is nearing a breaking point.

    More in Finance
    by

    Endeavor, TKO Consolidate Sports Assets, Hoping They’re Better Together
    The move brings On Location, Professional Bull Riders, and IMG under TKO.
    Sep 11, 2024; Los Angeles, California, USA; The Nike shoes worn by Seattle Storm center Mercedes Russell in the first half against the LA Sparks at Crypto.com Arena.
    opinion
    September 28, 2024

    New Nike CEO Must Do It
    The biggest task the new CEO faces is intangible: Refresh the brand.
    October 1, 2024

    Nike CFO Says ‘Adversity Creates Sharper Focus’
    Amid a downbeat but expected set of earnings, Nike says it sees signs of optimism.
    Sponsored

    How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture
    As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
    A Nike swoosh on a building in Eugene, Oregon.
    September 23, 2024

    Wall Street: Things Will Get Worse for Nike Before They Get Better
    Some analysts are skeptical of how much the new CEO will change.
    Crypto.com soccer advertising
    September 15, 2024

    The Champions League Is Back. So Is Crypto Sponsorship
    Crypto investment is making its debut in the biggest European soccer competition.
    Sep 9, 2024; Santa Clara, California, USA; San Francisco 49ers wide receiver Deebo Samuel (1) warms up before a game against the New York Jets at Levi's Stadium.
    September 12, 2024

    The NFL’s Private Equity Era Won’t Be the Bloodbath You Think—for Now
    “It’s a different kind of investment thesis entirely.”
    ESPN commentator Jay Williams speaking at a conference.
    September 11, 2024

    Jay Williams Supports PE in College Sports: ‘I Would Like to Own 49% of Duke Basketball’
    Williams wants in when PE gets into college sports.