Braves Fans Await Offseason Moves After Positive Q3 Results
The Braves' financial results during Q3 showed an "organization thriving financially," which has led fans to "wonder how aggressively the team will spend on the free-agency and trade markets during the offseason," according to Tim Tucker of the ATLANTA JOURNAL-CONSTITUTION. The Braves generated $212M in revenue in Q3, up from $200M in the same period a year ago. While parent company Liberty Media said the revenue growth was "primarily due to increased ticket and concession sales," the additional revenue was "more than offset" by a $40M increase in the team's operating expenses, resulting in a decline in profit. Liberty said that the Braves had "operating profit before depreciation, amortization and stock-based compensation" of $46M in Q3, compared to $74M during the same period last year. Liberty also disclosed that the Braves' debt grew by $70M in the July-September period to $540M. The debt "largely stems from the construction of SunTrust Park and the continuing development of The Battery Atlanta." Of the total revenue, $203M "came from baseball sources," up from $190M in during the same period last year. The other $9M "came from The Battery," down from $10M last year (ATLANTA JOURNAL-CONSTITUTION, 11/12).