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

Brave Losses

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

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.

The Meteoric Rise of Women’s Basketball in 2024

The business of women’s basketball exploded this year.

Mets: Not Concerned About Lower-Revenue Clubs After Soto Signing

The club dismisses concerns about fundamentally resetting the sport’s salary scale.

F1’s TV Ratings Similar to 2023, but Still Below the Record Highs..

The F1 season averaged 1.1 million viewers in the U.S.

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

‘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.

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.