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Tuesday, April 16, 2024
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Braves Set To Complete Split From Liberty Media

  • Liberty Media sets July 18 date to complete previously announced split
  • Braves are an industry leader both on and off the field
Brett Davis-USA TODAY Sports

MLB’s best team on and perhaps off the field is set to split off and become its own public company.

The Atlanta Braves — owners of the league’s top record, five straight division titles, the 2021 World Series title, and a league leader on numerous business fronts such as attendance and its influential Battery mixed-use development — is now tentatively scheduled to finalize its split from parent Liberty Media on July 18 and become Atlanta Braves Holdings Inc.

The move will complete a Liberty reorganization plan originally announced in November 2022. Greg Maffei, Liberty president and CEO, said then the split was aimed “better highlighting” the Braves value and “providing greater investor choice.”

As numerous teams seek to replicate the runaway success of the Battery in their own mixed-use stadium complexes, the Braves have also been aggressive in their long-term roster development, locking up seven key players through at least 2027.

Liberty in May said the Braves grew first-quarter revenue 35% to $31 million, boosted by strong early-season Truist Park crowds and increases in Battery rental income, extending a 4% rise in full-year 2022 revenue to $588 million. The Braves’ 2023 attendance is still up by 3% to an average of 39,076 per game, sixth best in the league.

The move, however, continues to raise speculation the Braves could ultimately be sold post-split. The New York Mets, the last MLB club to be sold, fetched a then-record $2.4 billion in 2020.

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