Braves revenue down $14 million, Liberty Media says
Braves owner Liberty Media disclosed Wednesday that the team’s revenue declined by $14 million in the first half of this year, compared to the same period last year.
Liberty, in a filing with the Securities and Exchange Commission, said the drop was “primarily due to lower game attendance, decreased concession sales and fewer (home) games played” through June 30.
The Braves had played 35 home games at that point, compared to 39 through the same date last year. Attendance is down by an average of about 3,800 per game.
In its filing, Liberty also disclosed these financial details regarding the team:
- For the new Cobb County stadium project, the Braves had borrowed approximately $185 million through June 30 from two credit facilities with a capacity of $350 million. The team had spent about $169 million on the stadium and adjacent mixed-use development through June.
- The Braves, as of June 30, had long-term guaranteed contracts with players and coaches totaling $59 million in 2016, $61 million in 2017, $54 million in 2018 and $105 million thereafter.
About the Author
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.
