Sports
Atlanta Braves Fans Can Now Own a Piece of the MLB Team
- MLB’s best team erased initial surge in thinly-traded session
- Formal split to unlock value for investors, open up sale
Dereck Rodriguez of the Atlanta Braves pitches against the Arizona Diamondbacks on July 18.
Photographer: Kevin C. Cox/Getty ImagesFans of Major League Baseball can now own a stake in the Atlanta Braves after the franchise became the league’s only publicly-traded team.
The MLB’s best team was worth roughly $2.74 billion when Atlanta Braves Holdings Inc. began trading as a common stock on Wednesday, based on roughly 61.7 million shares spread across three share classes, according to a company filing. The team’s debut wasn’t greeted with much investor fanfare as Class A shares — under the ticker BATRA — popped as high as $54.94 before tumbling 15%.