• Loading stock data...
Sunday, February 25, 2024
Rates for the 2024 Best Venue Awards increase this Sunday at 11:59 p.m. ET

Liberty Media Spins Off Atlanta Braves

  • If granted the necessary approvals, Liberty Media and Atlanta Braves Holdings will become separate publicly traded companies.
  • Liberty Media also announced the creation of a third tracking stock group.
Players warm up on field inside of Atlanta Braves' Truist Park
Dale Zanine-USA TODAY Sports

The Atlanta Braves are becoming their own company.

Formula 1 parent company Liberty Media is splitting off the MLB team “through the redemption of Liberty Media’s existing Liberty Braves common stock in exchange for common stock of a newly formed company” called Atlanta Braves Holdings, Inc.

The entity will hold everything currently under the Braves Group, including the Atlanta Braves and The Battery, its associated development project adjacent to Truist Park.

  • The split, which still needs several approvals including from MLB, will make Liberty Media and Atlanta Braves Holdings separate publicly traded companies.
  • Liberty Media, which acquired the team in 2007, would redeem each outstanding share of its Liberty Braves common stock for one share of the new company.

Braves Group reported $252 million in third-quarter revenue earlier this month.

Tracking Change 

Liberty Media, which has an 81.2% stake in SiriusXM, also announced the creation of a third tracking stock group — Liberty Live Group — through the reclassification of Liberty Media’s remaining common stock after the completion of the split-off. 

Adding to tracking groups Liberty SiriusXM Group and Formula One Group, Liberty Live Group would include the company’s interest in Live Nation — Liberty owns 31% of the company — and certain F1 public and private assets, among other things.

Liberty Media president and CEO Greg Maffei said the moves “will provide greater investor choice and enable targeted investment and capital-raising.” 

The split-off and reclassification is expected to be completed in the first half of 2023.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sham Gods: The Rapidly Growing World of Sports Impersonators on X

Fake Schefters and Wojs, fabricated trade demands, and borrowed profile pictures.
Sep 24, 2023; Oakland, California, USA; A general view of the Oakland Athletics dugout after the game against the Detroit Tigers at Oakland-Alameda County Coliseum.

Murky Future: Everything You Need to Know About the A’s Move to Las Vegas

Breaking down one of the most drawn-out, multifaceted sagas in sports.

WBD Touts Streaming Profit, Sports Alliance While Stock Is Hammered

TNT Sports parent sees tough reaction from Wall Street to latest earnings.

Despite Nike’s Efforts, MLB Uniform Controversy Isn’t Looking Good

Manufacturer touts product benefits but ignores complaints of see-through fabric.
podcast thumbnail mobile
Front Office Sports Today

How the Negro Leagues Are Staying in the Game

0:00
0:00

Featured Today

Sabrina-Steph Wasn’t the ‘Battle of the Sexes’—But It Was Part of the Bigger War

The competition could play a factor in increasing the WNBA’s media value.
NASCAR Cup Series driver Bubba Wallace (23), in a Star Wars rebel alliance X-wing fighter pilot-inspired race suit, motions to the crowd to get louder during the driver introductions for the Cup Series Championship race at Phoenix Raceway in Avondale on Nov. 5, 2023.
February 17, 2024

Celebrity Owners, International Ambitions, and $7B Media Deals: Welcome to the New NASCAR

NASCAR boldly keeps pace with the increasingly competitive sports and entertainment world.
February 16, 2024

Wilson Introduced an Airless Basketball for $2,500. We Had Questions

The black, 3D-printed ball appeared in last year’s Slam Dunk Contest.
Emily Henegar, a baker and content creator, made a batch of NFL-inspired cookies featuring Taylor Swift and Travis Kelce.
February 11, 2024

The ‘Life-Changing’ Economy of Taylor Swift’s NFL Outfits

Appearing in Swift’s game-day wardrobe has been “life-changing” for small businesses.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Finance Manager
FanDuel
New York, NY
Senior Technical Artist - Sports Technology
EA Sports
Orlando, FL
Assistant Manager, Affiliate Operations
Adidas
Portland, OR
Phoenix Suns
February 15, 2024

Suns Last NBA Team To Add a G League Squad

Mat Ishbia made his latest move a year into owning the Suns.
February 20, 2024

An About-Face in D.C. As Lerners Pull Nationals From the Market

MLB club no longer for sale as ownership family changes course.
Sponsored

Live Sports Are Now High-Tech Experiences

Oracle is leading the technology revolution happening in stadiums across the world.
February 13, 2024

Royals Trust Owner’s ‘Gut,’ Commit to Downtown K.C. Site for New Stadium

MLB club targets late-emerging location near downtown for ballpark development.
Chiefs andy reid
February 12, 2024

The Chiefs’ Biggest Offseason Deal Stands on the Sideline

Reid’s $12 million yearly salary is increasingly out of step with current NFL trends.
February 8, 2024

The Chiefs: Big in Germany. (But Does It Matter?)

Chiefs’ president on K.C.’s international ambitions.
Rob Manfred
February 8, 2024

Manfred’s Patience Wearing Thin? Commish Makes Stance on A’s Clear

Commissioner says he would be ‘disappointed’ if club misses 2028 target for Las Vegas ballpark.