The Atlanta Braves baseball club tends to be treated by its owner like a line item in a large conglomerate. That’s because it is, quite literally, a line item in a large conglomerate, Liberty Media. Now the large conglomerate is going to treat it like even more of a corporate entity by selling off shares. From the AJC:
Liberty, a publicly traded company with a range of media and entertainment assets, said it will create a tracking stock that will allow investors to buy shares in the Braves separate from the rest of the conglomerate.
The stock – expected to trade on the Nasdaq exchange in the first half of next year – would make the Braves one of the few professional sports franchises with publicly listed shares allowing for direct investment.
You know what makes share prices go up? When a company cuts costs and turns a profit. Whether the company provides customers with a fun product they can love is a secondary consideration. Which, unfortunately for Braves fans, will mean not much will change with how the club has been run for the past several years.
TheStreet.com has a little history lesson of professional sports teams which have been publicly traded. It’s a . . . weird little corner of the investment world.
I’m not the brightest when it comes to investments, but if any of you who are can figure out a way we can use this to mount a hostile takeover of the team and put Ted Turner back in charge, give me a call.