Braves got $500 million from TV renegotiation
The Atlanta Braves and team owner Liberty Media Corp. received some $500 million last year when they renegotiated the teams television rights, Liberty CEO Gregory B. Maffei revealed Thursday.
Maffei also discussed the financial benefits of the Braves planned stadium in Cobb County, in a conference call with analysts to discuss Libertys first-quarter earnings.
Last year through some good work of the management of the Braves and a confluence of events, we were able to renegotiate positively a bunch of those [TV] rights and receive probably on the order of $500 million of incremental revenue over the life of the contracts, of value to us, Maffei said. So thats been very positive.
Liberty previously said the Braves gained $36 million in revenue in 2013, boosting the team's income 16 percent, to $261 million, due in part to "a one time recognition of revenue from a settlement of outstanding broadcast rights issues."
Maffei said the Braves TV deals originally ran out in 2027. He did not say when the renegotiated deals expire.