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Image credit: © Brett Davis-USA TODAY Sports
Warning: If finance bores or annoys you, skip this article. There’s lots of other great content on the site today!
As I noted in this article, Atlanta Braves Holdings is now a publicly-traded company. And as a publicly-traded company, it makes quarterly reports and issues audited financial statements, discussing its financial performance. This is important for two reasons. First, it gives us transparency into the operations of a baseball team, albeit one of the sport’s most successful, that we do not have with the other clubs. Second, in a sport in which owners are constantly poormouthing their financial condition, the Braves, with stockholders to satisfy (including company executives), will be incentivized to give us a more honest outlook, one they hope will drive the share price higher.
The company reported earnings and issued its full-year financials last week. I’m going to review them here. I’m going to use Braves, Braves Holdings, and the company interchangeably.
Evergreen disclaimer: When I was a financial analyst, my focus was on companies’ financial performance and what it meant for the outlook for shares of its stock. Here, I’m going to look more at what we can learn from the Braves and implications for the other 29 teams. I’m not going to recommend whether you should buy the stock. That’s up to you. (And until you have a substantial nest egg for retirement, like 30 times the income you think you’ll need per year, you probably should be focusing on index funds rather than individual stocks, but this is not an investment column.)
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