In just a matter of months, fans across the country could be able to describe themselves as owners of the Atlanta Braves organization.
Current owner Liberty Media announced they are going to spin the Braves off into an entirely separate public company.
According to Deadline, Liberty will complete the shift in 2023 to “better highlight its strong value.”
It’s unclear how many fans will be interested, however, given the Biden Administration’s stance on the Braves’ “controversial” name.
The move is part of a broader reorganization of Liberty’s holdings. Liberty Live will become a new tracking stock that would house the company’s stake in Live Nation.
They also have tracking stocks arranged for Sirius XM and Formula One.
While Liberty is a public stock, this is the first time the Braves specifically will be traded.
According to Deadline, Liberty CEO Greg Maffei said that the move is about raising capital and broader “investor choice.”
‘Atlanta Braves Holdings’
The new company will apparently be called “Atlanta Braves Holdings.”
That group will control the businesses involved in the Braves organization. Those businesses include the team, certain stadium assets, as well as holdings in the mixed-use development next to Truist Park.
These are fascinating changes for Major League Baseball.
While fans will obviously not be able to influence on-field decisions, becoming a separate public company involves enhanced scrutiny.
Details on team finances and expenditures will be even more accessible.
Liberty claims that the Braves have “strong value” to potential investors. That’s likely true, and could help put to rest team owner’s complaints about money.
Owners across the league have often cried poor when pursuing free agents or retaining their players.
With the Braves going public, there will be more information to contradict those assertions.
It’ll also be fascinating to see if the stock price moves in conjunction with team performance.
If the Braves go on a losing streak, does the value fall? If they make the playoffs, does it rise?
With the spinoff set to be complete by early next year, we won’t have long to wait to find out.