The Atlanta Braves’ championship run spurred Liberty Media to what may be its strongest year to date.
Liberty, the parent company of the Braves and Formula One, reported on Friday that the reigning World Series champs set a new revenue record of $568 million in 2021. That’s up 19% from the $476 million in revenue in 2019 and a 219% swing from $178 million in 2020 when the regular season was shortened.
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The Braves, who had an operating loss of $128 million in 2020, used strong on-field performance this past season to accelerate their COVID-19 pandemic recovery, turning adjusted OIBDA (operating income before depreciation and amortization) from a $49 million loss in 2020 to a $111 million net gain last year.