Sunday October 1, 2023

Braves Throw A Curve, Ask for $200M in Tax Breaks

  • The Atlanta Braves and Truist Financial are asking for $200 million in tax breaks for a development next to the team's ballpark.
  • The team had previously said it would fund the development privately.
Dale Zanine-USA TODAY Sports
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Editor’s note: This story was updated on April 21 to clarify the request made was for tax breaks.

The Atlanta Braves have reversed their stance on not asking for funding for a development in Cobb County, submitting a $200 million request.

The team had pledged to privately develop the area surrounding Truist Park, which opened in 2017 with the help of $300 million in public funds.

  • Representatives of the Braves and Truist Financial presented a proposal to Cobb County officials on Tuesday asking for tax breaks to help cover the cost of a planned $200 million, 250,000-square-foot office tower overlooking the ballpark.
  • Braves officials disputed the notion that they were going back on their word, saying that the team isn’t asking for the tax breaks, “Truist is.”
  • The bank holding company will lease space in the new development, which will be owned by the Braves.

Public Enemy

The Buffalo Bills secured $850 million, including $600 million from New York State — a deal that did not poll well among New Yorkers. On Tuesday, the Carolina Panthers terminated a planned $800 million headquarters over a public funding dispute.

Commissioner Rob Manfred has reportedly sought to retain a precedent of public funding for new stadiums, which could complicate a potential move to Las Vegas by the Oakland A’s.

It is not clear if a lack of public funds would derail the planned development. Truist has already announced relocations related to the development, and a representative from the bank said the funding was “one factor” that would determine the scope of the project.

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