Highlights of Cobb County’s stadium deal with the Braves:
Cobb County and the Braves "anticipate" a total project budget, including the stadium, parking and related infrastructure improvements, of up to $672 million. The county will be responsible for $300 million and the Braves for up to $372 million. (Plus interest in both cases.)
Of the county's $300 million commitment, $276 million will come from bonds to be repaid over 30 years from a mix of new and existing taxes. Of the Braves' $372 million, $92 million will come from additional bonds to be issued by Cobb and repaid with $6.1 million annual payments by the Braves to the county. In all, the Cobb-Marietta Coliseum and Exhibit Hall Authority will issue $368 million in bonds.
The Braves have the right to cut the project budget by up to $50 million, which would reduce the team's contribution but not the county's. (Braves executive vice president Mike Plant said such a reduction, if made, would be related to savings in the need for parking structures.)
The Braves will be responsible for cost overruns unless caused by changes requested by the county.
The Braves will hire the architect, subject to the county's approval, and will manage design and construction.
The Braves will retain all revenue from the stadium (except for the $6.1 million annual payment to the county to repay the $92 million in bonds funding part of the team's commitment toward construction). The Braves' revenue streams will include tickets, concessions, parking, suites, sponsorships and naming rights, among others.
The Braves will be responsible for routine maintenance and operating expenses.
The team and county will make equal annual contributions into a fund for capital maintenance and repairs needed to keep the stadium up to Major League Baseball standards. The agreement does not specify the amount of those contributions.
The Braves commit to play in the stadium from the 2017 through 2046 seasons.
Tim Tucker, a long-time AJC sports reporter, often writes about the business side of the games. He also had stints as the AJC's Braves beat writer, UGA beat writer, sports notes columnist and executive sports editor. He was deputy managing editor of America's first all-sports newspaper, The National Sports Daily.