Liberty Media to spin Braves stock off into new publicly-traded stock
ATLANTA - The owners of the Atlanta Braves, Truist Park, and The Battery will be splitting off into a separate publicly traded company.
Liberty Media announced the assets under the current Liberty Braves tracking stock would be spun off in exchange for a newly formed company stock under the name Atlanta Braves Holdings, Inc.
"We plan to split off the Atlanta Braves into an asset-backed stock to better highlight its strong value. Additionally, post Split-Off, we plan to recapitalize all of Liberty Media’s remaining common stock into three tracking stock groups," said Greg Maffei, Liberty Media President and CEO. "These actions will provide greater investor choice and enable targeted investment and capital-raising through more focused currencies, while maintaining an optimal capital structure for Liberty Media and preserving optionality with respect to our subsidiary SiriusXM and our Live Nation stake."
A Liberty Live tracking stock would be created for its Live Nation holdings. It also would reconfigure the Liberty Sirius XM and Liberty Formula One tracking stocks.
The measure should not significantly impact the daily operations for the Braves, The Battery, its other properties, or its cash assets.