Atlanta Braves Holdings, Inc. (“ABH”) (Nasdaq: BATRA, BATRK) today reported fourth quarter and year end 2023 results.
Headlines include(1):
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Total revenue grew 9% to $641 million in 2023
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Mixed-use development generated $39 million of Adjusted OIBDA(2) in 2023
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Extended Alex Anthopoulos as President of Baseball Operations and General Manager through 2031 season
“The Braves are a unique and valuable sports property with leading on-field and off-field business performance. Congrats to the team on capping off the 2023 season with their sixth consecutive NL East title and unprecedented player accolades,” said Greg Maffei, Chairman and CEO of ABH. “Strong on-field performance yielded robust revenue growth for the full year, and early indicators for the 2024 season show increased demand.”
“We are thrilled with both the team and financial performance at the Braves in 2023,” said Terry McGuirk, Chairman and CEO of Braves Holdings, LLC. “Our management continues to focus on optimizing the ballpark, with upgrades planned for 2024 to drive more commercial opportunities and an improved fan experience. Season tickets, including premium seats, are already sold out in anticipation of another exciting season. The Battery benefitted from increased foot traffic and strong sales across the development and we expect another strong year ahead.”
Corporate Updates
On July 18, 2023, Liberty Media Corporation (“Liberty Media”) completed the split-off of the Braves and its associated mixed-use development (the “Split-Off”) into the separate public company ABH. The businesses and assets at ABH consist of Braves Holdings, LLC, the owner and operator of the Atlanta Braves Major League Baseball Club, and certain assets and liabilities associated with the Braves’ ballpark and mixed-use development, called The Battery Atlanta, which were previously attributed to the Braves Group tracking stock of Liberty Media. For purposes of this presentation, ABH standalone…
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