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Comments
Another - The area used for The Stadium development was an extremely valuable tract of land. It's not a zero sum deal, Cobb could have made deals that weren't so favorable to the other side.
While much of the most profitable developments were split off to a separate company that doesn't benefit The Braves even a nickel, Liberty also ''charged'' The Braves 200 million for The Battery. This has always been a real estate business for Liberty Media. Heck, they literally were paid to take The Braves after tax incentives were factored in. Not only did the team not cost them a dime, they made around a 30 million dollar windfall above the selling price.
I agree with most of your assertions. I also know the Cobb County citizens are very informed on these issues, and very happy with the deal. It's called a win-win.
If I remember correctly, wasn't there a significant incentive for Liberty to hold on to the Braves for significant amount of time?
Hard for me to find fault with shrewd business decisions. It’s the job of fans to determine whether or not to support the team, and the fans are free to use whatever criteria they choose in making those decisions. The fact Libwrty has made out like gangbusters doesnt make them bad owners or bad people. In the end, it’s a business. Fans would just prefer a Cuban type owner who thinks winning a major aports championahip will make him look cool.
As for that property in Cobb - yes, it was valuable property but it was destined to be office and apartments without the stadium. It would have never produced the tax revenue of the Battery and Suntrust Park.
It's only a win if you look at an empty tract of land vs what was developed. It wasn't like Chavez Ravine where The Dodgers built on waste property, it was probably the largest prime tract of undeveloped land in the metro area. What could have been made from the property ? that should be the question.
That rings a bell. Something to do with taxes maybe? But I bet they could sell a small minority interest to an individual owner with local ties (business owner, athlete, or entertainer), and let him become the face of ownership in Atlanta, as the first step in a long term plan to eventually sell off their entire interest.
The problem is, the Braves are a profitable business for Liberty, so they don't have incentive to sell. The only way I know to incentivize them to sell is for the fan base to grow frustrated enough that it starts to generate substantial bad will towards Liberty. I think Tom Glavine's recent statements are a big step in that direction. I hope it builds. Atlanta fans deserve better.
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Bank. Everybody loves rich thieves, it's the poor ones that we hate.
Office buildings and apartments. That’s what would have become of the property. Instead, the property will likely be one of the most visited tourist attractions in the Southeast.
For comparison, let’s discuss The Gulch and Atlanta City Government. Makes the Suntrust Park deal look like a million carat diamond.
Bank, it's a great deal for Liberty for sure.
Also something Liberty keeps hidden from sight. They split off much of the real estate development into a separate company about the time it started accruing income. If and when Liberty sells The Braves not only will they likely retain ownership of much of the surrounding development, they'll have the next owners by the short hairs.
I'm good with that number, I just set it lower because Freddie doesn't seem to hit a ton of homers every year. He just bats .325 and rakes inside the park.
The Braves can spend like the big market teams, as Ted Turner proved throughout the 90s and early 2000s. Braves were always a top 5 payroll, usually top 3. Heck, the Braves are only spending $14 million more this season than they did in 2003! That's awful considering the huge baseball contracts these days. It's just not in the interest of Liberty, as they are all about profit (as most baseball owners are) .
My opinion is that Liberty tried to play cheapskate, then realized they had infuriated the fan base and media. So they publicly declare that Anthopolous has full discretion to sign anybody he wants. By the time that happened, all the difference-makers were off the market.
Our lead off hitter strikes out looking, theirs hits a homer.
fortunately, the game lasts a bit longer.