A weekly report on the business of the Braves:
SunTrust Park: Braves owner Liberty Media recently updated the scoreboard on the team's spending for its Cobb County stadium project. In a filing with the Securities and Exchange Commission, Liberty disclosed that the Braves had spent approximately $131 million on the stadium and adjacent mixed-use development through March 31.
Of that amount, $110 million was borrowed by the Braves — up from $100 million at the end of last year — and the rest came from the team’s cash reserves, according to the filing.
The Braves intend to take on much more debt for the project. Liberty said the team has access to two credit facilities that were increased from $250 million to $350 million in April.
The company’s report puts the cost of the stadium at $672 million, although the Braves’ agreements with Cobb peg the budget at a minimum of $622 million. Liberty said the Braves “are expected to spend approximately $50 million in other costs and equipment related to the new ballpark.” In any case, the county is committed to contribute $392 million.
As for the privately funded mixed-use development, Liberty’s filing pegs the cost to the Braves and “outside development partners” at $452 million.
Accounting: Liberty Media reported Braves revenue was down $2 million in the first quarter of this year, compared with the same period last year. The team's operating income (revenue minus operating expenses) improved by $4 million, Liberty said.
Payroll: With pitcher Mike Minor out for the season after shoulder surgery, the Braves' payroll includes about $29 million for players who won't play for the team this year (the bulk of that to Dan Uggla, Carlos Quentin and Minor) and about $68 million for players on the active roster.
Attendance: The Georgia-Georgia Tech baseball game at Turner Field on Tuesday night posted higher attendance (18,792) than the average for Braves home games on Monday through Thursday nights so far this season (15,687). In both cases, announced attendance represents tickets sold.
