The Braves have “taken on a significant level of debt and increased expenses” because of the construction projects, Liberty stated.
The team’s debt load dipped to $470 million June 30, 2019, before climbing to $559 million by year’s end.
The added debt stemmed largely from ongoing construction of the second phase of The Battery, Liberty Media said. By completion, construction of that phase is expected to cost approximately $200 million.
Another factor was completion of the spring training facility. A privately funded $14 million Braves Academy building opened in December, completing the North Port complex.
Taxpayer money also paid hefty chunks of the construction cost of Truist Park and CoolToday Park, the spring-training stadium.
As previously reported, Liberty Media disclosed that the Braves' revenue increased to $476 million last year, up 8% from $442 million in 2018. The company attributed the revenue boost primarily to higher attendance and higher local and national broadcast rights fees.