Major League Baseball All-Star Hosts Braves Pursue Underrated Shares in Stock Market
The Atlanta Braves are set to host the MLB All-Star Game on Tuesday, marking their first time hosting the event since 2000. This significant milestone is part of the vision that Liberty and Braves leadership set out to fulfill when they announced plans to leave downtown Atlanta's Turner Field in 2013.
The game will be played at Truist Park, a state-of-the-art ballpark that has been a hub of activity since its opening. The Braves' campus, which includes the ballpark and the mixed-use development known as The Battery, has grown more than 30% with a recent acquisition of nearby office properties sitting on 34 acres.
The Braves are MLB's only publicly traded team, with a market cap of $3 billion. However, Atlanta Braves Holdings' valuation is slightly less than Sportico's recent valuation of $3.71 billion for the MLB club and its real estate. This discrepancy might be attributed to the fact that the Battery, the mixed-used development surrounding Truist Park, has not received its true valuation, according to Braves president and CEO Derek Schiller.
The Battery has been attracting attention from fans taking in ancillary events and festivities this week. Last year, the development welcomed nearly 9 million visitors, generating $68 million in revenue, a 14% increase from the year prior.
The Braves' young talented roster, locked into long-term deals at below market rates, has one of baseball's largest TV footprints. This roster, coupled with the allure of The Battery and Truist Park, makes the Braves an attractive proposition for potential buyers. Despite this, there is no publicly confirmed candidate who has taken or will take majority ownership of the Atlanta Braves after MLB franchise values increased.
John Malone, a cable TV pioneer and head of Liberty Media, split off the Braves to eliminate their former tracking stock structure. Liberty Media, known for prioritizing value and avoiding unnecessary tax leakage, has been a steadfast partner in the Braves' growth.
New tax rules on public companies set to go into effect in 2027 could potentially limit compensation deductions for a company's highest-paid employees, including baseball players. This could have implications for the Braves' payroll in the future, but for now, the focus remains on the All-Star Game and the continued optimisation of opportunities for fans and visitors at the Braves' campus.
Schiller stated that the ballpark and mixed-use development were built for events like the MLB All-Star game. With the success of The Battery and the excitement surrounding the All-Star Game, it's clear that the Braves' campus is living up to its potential.
The Braves are considered a willing seller at the right price, according to Braves analyst Matthew Harrigan. However, for now, the Braves are focused on delivering an unforgettable All-Star Game experience for fans and continuing to grow and improve their campus for visitors.
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