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The Future. If you’re a Braves fan, you can now scoop up a little ownership stake in the team for less than $60. This stock option makes the Braves the only publicly-traded team in the MLB. If investors bite, it could provide a new strategy for baseball to raise funds and join the alternative asset class… not unlike their player cards.
Baseball IPO
Anyone can own a piece of the best team in baseball right now.
- On Wednesday, the Atlanta Braves started trading as a common stock, with about 61.7 million shares available under the ticker BATRA.
- The asset — which includes the team and its associated real estate development, The Battery — was valued at $2.74 billion.
- The stock popped like a fly ball early in trading, reaching a high of almost $55 before dropping 15% as the day wore on.
- Nonetheless, analysts believe investor interest will pick up as fans realize the stock is probably the best piece of memorabilia they can buy.
Even with all the available shares, the Braves are still majority-owned by cable billionaire John Malone — who also sits on the board of Warner Bros. Discovery — and his Liberty Media Corp — which also has majority stakes in Formula 1, SiriusXM, and Live Nation.
By going public, Malone may have a cleaner trajectory to ultimately selling the Braves to another investor group or private equity player, which are hot on sports teams right now.
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