Sports teams generally tend to closely guard their financial data, but Braves owner Liberty Media’s plan to issue stock in the team has opened the window to some new details about the Braves’ economic performance.
Liberty this month filed a lengthy document with the U.S. Securities and Exchange Commission about the company’s plan, announced late last year, to issue a “tracking stock” that would allow investors and baseball fans to buy and sell shares in the Braves.
The document shows the Braves’ revenue fell by $15 million in the first nine months of last year, but expenses declined even more — $25 million.