On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams chat with Atlanta Braves president and CEO Derek Schiller about the team’s postseason run. The Braves are back in the World Series for the first time since 1999, with the best-of-seven series heading to Atlanta for Game 3 on Friday.
Schiller discusses team’s unique ownership—the Braves are owned by Liberty Media Corp. and have their own tracking stock (NASDAQ: BATRA), making them one of the few “publicly traded” sports franchises in the major U.S. sports. Schiller details how that differs from teams controlled by a single high net worth individual, and how it’s helped the club on the field.
The Braves are also a good example of how major U.S. sports franchises are expanding into businesses beyond just their teams and leagues. When the Braves built their new stadium five years ago, they added a 75-acre mixed-use development next door. That space, which has restaurants, offices and housing, gives the team a steady revenue stream 365 days a year, Schiller says, which is different than a seven-month MLB season.
Lastly, Schiller discusses how the global supply chain crunch is affecting the Braves business. The team has seen challenges in everything from concessions to hard goods and apparel, he says, and have likely seen shortfalls in the “seven figures, plus” because of delayed shipments and postponed deliveries.