The Atlanta Journal-Constitution
SPRING GAME
April 23, Bobby Dodd Stadium, time TBA
The final score is in on the Braves’ 2020 financial performance, and it’s not pretty.
The Braves’ revenue declined by 63%, falling from a franchise-record $476 million in 2019 to $178 million in 2020, as a result of a shortened season played without fans in the stands, according to figures disclosed Friday by team owner Liberty Media.
The Braves had an operating loss before depreciation and amortization of $49 million last year, representing a negative swing of $103 million from a profit of $54 million in 2019, the company said.
Liberty Media said in its financial report that of the Braves’ $178 million in 2020 revenue, $142 million came from baseball sources, down from $438 million in 2019. The other $36 million came from real-estate development The Battery Atlanta, down from $38 million the year before. Total revenue declined $298 million from 2019.
Such baseball revenue sources as ticket and concession sales were shut off in 2020 as games were played amid the COVID-19 pandemic without fans in attendance. The reduced number of games “also negatively impacted broadcasting revenue,” Liberty Media noted. Other revenue streams, such as sponsorships and parking, also were affected.
Liberty Media President and CEO Greg Maffei said on a conference call with investment analysts Friday that he expects the Braves to have fans in the stands at Truist Park to some extent this year.
“Ninety-seven percent of The Battery’s tenants are operational, which speaks to the relative openness of Georgia and we believe bodes well for fans at Truist this year,” Maffei said. “We do expect to have fans in the stands but are not yet sure of the seating capacity restrictions. And we do have significant demand for tickets, both at Truist and spring training.
“We look forward to a great 2021 season, including hosting the MLB All-star Game on July 13.”
Later on the call, Maffei suggested the Braves might start the season at 25% seating capacity, although that has not yet been determined.
“We will be in far better shape in terms of the fan attendance than if you were in New York or California or some other locale,” Maffei said. “It will be decided not by baseball, but by the local rules and authorities.”
Last year’s financial losses prodded the Braves and many other MLB teams to cut spending for the 2021 season. The Braves currently have a projected opening-day payroll of about $129 million, down from what would have been $152 million if a full season had been played last year. Their player payroll ranks 14th among the 30 MLB teams and fourth among the five National League East teams.
During the offseason, the Braves re-signed outfielder Marcell Ozuna to a four-year contract and added free-agent starting pitchers Charlie Morton and Drew Smyly on oneyear deals. The Braves cut spending in other areas, particularly the bullpen.
“We are excited about our enhanced 2021 roster,” Maffei said. “We came within one win of going to last year’s World Series, so our guys are ready to go.”
As one of the few U.S. sports franchises with publicly traded stock, the Braves are required to disclose their financial results on a quarterly basis.
March 26: Georgia Tech Student Center Programs Council, Live Music.
March 28: Mwenso & the Shakes: “Hope, Resist & Heal.”musician, artist and social commentator Michael Mwenso and his band offer a unique ancestral perspective on Black music and its ability to heal through original compositions and arrangements.
April 14: Chanel Howard of Bill T. Jones/arnie Zane Company and Immerseatl, Contemporary Dance.
April 15: Kaki King. Atlanta-born composer and guitarist will play a selection of songs from her 20-plus year career as well as material from her recent album, “Modern Yesterdays.”
April 16-20: Georgia Tech School of Music. Students in the Laptop Orchestra and New Music Ensembles, the Rock/ Pop Ensemble, Chamber and
Treble Choirs, Jazz Ensembles, Symphony Orchestra and Percussion Ensembles offer free performances.
April 23-25: Atlanta Ballet 2.
April 30–May 2, May 7-9: Atlanta Ballet,“silver Linings.” Works created and performed by company members.
May 15-16: Dance Canvas, Choreographic Showcase.
May 17: Terminus School of Modern Ballet, Spring Showcase. Student Company debuts with a mix of classical ballet and contemporary dance.
May 18: Terminus Modern Ballet Theatre,“interactions | Boundaries of Identity & A.I.”AN excerpt of a work in progress developed with Troy Schumacher in residency at Georgia Tech. The piece explores topics around neurobiology and neuroethics, and is slated for a world premiere in the spring of 2022.
April 5-30: “AMYGDALA” by fuse*. Multimedia art installation builds on themes of“dökk”by pulling information from social media in real time and translating the data into stunning outdoor light displays.
Ferst Center Arts Plaza.
Ongoing: “Chip Off the Ole Block.” 15-Foot Regenerative Design Sculpture by artist Patrick Dougherty. Ferst Drive between Hemphill Avenue and State Street.