Braves' Q1 revenue down significantly amid attendance limits

The Braves’ revenue "declined in the first quarter this year," attributable in part to "reduced attendance at spring-training games," according to financial results disclosed by team owner Liberty Media and cited by Tim Tucker of the ATLANTA JOURNAL-CONSTITUTION. The Braves had revenue of $16M in the January-March quarter, down 27% from $22M in the same period last year. The Q1 results "don’t include any regular-season games or telecasts." Of the $16M in Braves revenue, Liberty Media said that $7M "came from baseball sources" (down from $12M in the same period last year) and $9M "from The Battery Atlanta," the mixed-used development next to Truist Park (down from $10M in the same period last year). Liberty Media said the Braves’ Q1 revenue decline this year was "more than offset" by an $11M reduction in operating expenses. The Braves had an "operating loss before depreciation and amortization" of $20M in the quarter, compared with a loss of $25M in the same period last year. The Braves’ debt as of March 31 was $676M, "up slightly" from $674M on Dec. 31. The debt "mostly stems from the construction of Truist Park and CoolToday Park and continuing construction at The Battery" (ATLANTA JOURNAL-CONSTITUTION, 5/8).