Because Atlanta Braves Holdings Inc., is a publicly-traded company, their obligatory financial reports provide an annual peek into the Braves’ business dealings, and Tim Tucker of the Atlanta Journal-Constitution shared the details of the company’s disclosure earlier this week. ABH Inc. reported $641MM in revenue in 2023 from the Braves and the associated ballpark village next to Truist Park known as The Battery Atlanta — this figure represents a sizable jump from the $589MM in revenues from 20222. Between Truist Park’s opening in 2017 and the success of the Battery as an attraction outside of just Braves gamedays, the Braves have seen revenues soar from $262MM in 2016 to last year’s $641MM number, with only a dip in 2020 due to the pandemic.
However, ABH Inc. still reported an overall operating loss of $46MM for 2023. As per the team statement, baseball-related operating costs “increased primarily due to higher player salaries, including offseason trade activity in the fourth quarter, as well as increases under MLB’s revenue sharing plan.” The operating profit for 2023 stood at $38MM, but dropped into the red due to $13MM drops for stock-based compensation and $71MM in depreciation and amortization. (Tucker notes that “large deductions for depreciation and amortization are believed to be common for MLB teams.”)
The revenue increase has gone hand-in-hand with a big increase in the Braves’ payroll, as Atlanta is set to far exceed its club-record $205MM payroll from 2023. The Braves are currently projected (as per RosterResource) for a payroll close to $228MM and a luxury tax number of $270MM. After paying into the tax for the first time last season, the Braves have now gone well beyond the initial CBT threshold, as their projected $270.3MM tax number is now approaching the third penalization tier of $277MM. The front office’s aggressive strategy of locking up star players to extensions has both increased spending but also built a powerhouse team that is expected to again contend for a World Series title.
Some more items from around the NL East…
- Nationals outfield prospect Daylen Lile was stretchered off the field in a scary incident in today’s Spring Training game. While attempting to catch a home run, Lile went over the right field fence and took a bad landing, drawing immediate calls for medical attention from Red Sox pitchers in the bullpen. Lile reportedly gave a thumbs up while being removed from the field, according to Chelsea Janes of the Washington Post. A second-round pick in the 2021 draft, the 21-year-old Lile missed all of the 2022 season recovering from Tommy John surgery, and is ranked by Baseball America as the 11th-best prospect in Washington’s farm system. [UPDATE: Manager Davey Martinez told Janes and other reporters that Lile will undergo a CAT scan. Lile apparently landed hard on his lower back after his fall, but was able to move his feet.]
- Jeff McNeil is dealing with some left biceps soreness and won’t hit for a few days, Mets manager Carlos Mendoza told reporters (including Mark W. Sanchez of the New York Post). McNeil is still able to participate in fielding drills since he throws with his right arm, though his left arm continues to be a concern given how McNeil has a partially torn left UCL. The thought was that McNeil would be fine after an offseason of recovery rather than surgery, and a biceps issue doesn’t necessarily hint at any further UCL damage. The former NL batting champion and two-time All-Star is looking to bounce back from an underwhelming .270/.333/.378 slash line over 648 plate appearances in 2023.
- Marlins manager Skip Schumaker provided media (including the Miami Herald’s Jordan McPherson and MLB.com) with some updates on starters Braxton Garrett and Trevor Rogers. Garrett has been dealing with soreness in his left shoulder for a couple of weeks but has been throwing bullpen sessions and is on “normal progression now” towards throwing a live batting practice, Schumaker said. Rogers is tentatively scheduled to make his Grapefruit League debut in a 20-pitch outing on Tuesday, as the Marlins have been building him slowly in camp in the aftermath of an injury-riddled 2023 season. Rogers threw a live batting practice session on Thursday that left Schumaker impressed, as the southpaw “was throwing 93-94 mph in a setting with not much adrenaline.”