calan drugs for sale ampicillin uses for dogs low dose accutane long term results beconase aq sublingual dosage where to get hoodia lollipops comprar moduretic en argentina proper use of cytotec for abortion levitra plus online overnight shipping buy phenamax hong kong blood pressure medication atacand side effects the chepest cleocin purchase non perscription birth control pills online cipro pharmacy prices list low cost trazodone uroxatral without script prescription drug tadapox can order mycelex-g canada cytotec australia cheap propecia buy online where to buy tretinoin cream uk problemas diabetes y disfuncion erectil viagra wikipedia francais monavie acai berry price how to use viagra soft tabs where to buy cafergot hyzaar combination buy tadalafil uk levitra super active store cheap periactin no prescription cephalexin drugs india reminyl uk brand name mirapex sale best generic finast review what is crestor 20mg purchase ethionamide cheap brand amoxil where can i buy it property for sale benicarlo spain us online pharmacy no prescription atacand what is amoxil 500mg www.canadian-pharmacy24h.com the online drugstore reviews viagra para la mujer natural doxycycline sunlight generic from trazodone buy maxalt mg online buy zofran online canada acquisto nootropil sicuro online order aciclovir 400mg tablets can you get methotrexate yasmin birth control prices trazodone cost walmart skelaxin dosage children buy midamor mg crestor shortage penegra uk next day delivery acyclovir mechanism of action ppt nexium tablets spc cardura for purchase clomid for men sperm count cheap arava pharmacy that sells bactrim acheter kamagra gold pas cher how to get roxithromycin vente de revatio au quebec meclizine over the counter walmart best place to buy nizoral in mexico purchasing septilin online uk zyvox over counter cheapest place buy zetia where to buy cialis with amex l-tryptophan generic reviews buy serpina in singapore stromectol coupon code buy tadapox in australia singulair tablets 150 mg what is fluoxetine medication augmentin and birth control pills rumalaya liniment without a prescription buy doxycycline discount atacand tablets for sale cost of serevent diskus trazodone pharmacy order walmart generic prices prescriptions global pharmacy canada coupon dostinex tablet price risperdal 20 mg prevacid without prescriptions olanzapine drug classification buy cheap meclizine can you buy viagra over the counter in the uk generic accutane tablets buy viagra alternatives in india finasteride generic visa cheap allegra india yasmin side effects mood generic dilantin uk paypal buy omnicef no prescription fast delivery primatene mist inhaler ebay generic pills for asacol carafate to buy in england list of drugs manufactured by cipla where is the love lyrics barracuda rualis 20 strattera online in usa astrazeneca seroquel lawsuit 2010 viagra sublingual best price chloramphenicol eye drops dose for babies malegra fxt online in usa how to buy pain pills online legally buy erexin no prescription purchase elocon in mexico generic advair diskus international best site to buy betnovate what does vc mean in phenergan vc generic for prometrium 200 mg fluconazole for thrush dose best canadian no prescription pharmacy buy diclofenac pills online where do i buy tamoxifen norvasc generic name keppra weight gain buy probalan online paxil for dogs buy sominex 2 pills cialis side effects cialis vs viagra malegra dxt canada overnight delivery cialis jelly cost canadian what is prednisolone for kids raclet allegra for sale bula do sertralina 50 mg cheap diclofenac 50mg asacol tablet sale top 10 online anacin sites fluconazole 50 mg and alcohol buy vasotec patch zyban pharmacy western drug zithromax artane medication morning after pill nhs free Purchase suprax 400mg no prescription liposafe extendaquin pills sweat female viagra order online no prescription female cialis 100mg cheap exelon patch side effects forum atrovent prices usa is lipitor generic as good as lipitor generic triamterene hctz 37.5 25 mg what is zetia taken for can order keppra canada buy motilium instant no prescription clomiphene citrate low testosterone
Home MLB News It's Offical: Liberty Media Now Owns the Braves

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 1639 guests online

Atom RSS

It's Offical: Liberty Media Now Owns the Braves PDF Print E-mail
User Rating: / 8
PoorBest 
Written by Maury Brown   
Wednesday, 16 May 2007 11:10

Liberty Media and the Atlanta BravesMark it on your calendar: The Atlanta Braves were sold from Time Warner to Liberty Media on Wed. May 16, 2007 for a transactional value of $461 million. By unanimous vote at the Owners Meeting today in New York, the deal was approved.

“I am pleased to welcome Liberty Media as the owner of the Atlanta Braves,” said Commissioner Selig said at the announcement. “I am also excited that Terry McGuirk will remain in his role with the club, along with John Schuerholz, Mike Plant, Derek Schiller, Bobby Cox and others. They have made the Braves a model of consistency. I also want to thank Turner Broadcasting and Time Warner for their years of successfully owning the club.”

“On behalf of Liberty Media and the entire Braves organization, we want to thank Major League Baseball for their diligence and approval of this deal," Braves president Terry McGuirk said. "We are excited to move forward and to bring our fans more championship-caliber baseball and experiences at Turner Field in the years ahead. I look forward to staying on and continuing to lead this organization, and I am confident that fans will enjoy a world-class baseball experience. We will continue to strive for World Championships for our fans and the city of Atlanta.”

Along with the retention of the front office brass, it was announced that Henry Aaron will take on a more visible role with the organization.

The deal is a final break between Ted Turner and the Braves. Turner purchased the Braves on January 1, 1976 owning the team outright until merging Turner Broadcasting Systems, Inc. with Time Warner in October of 1996.

Time Warner has been working towards a sale of the club since December of 2005. At the time of the announcement, Arthur Blank the owner of the NFL Atlanta Falcons showed interest in the purchase, along with Colorado based Liberty Media. Talks were broken off with all parties except Liberty early in 2006, as Time Warner and Liberty worked through a complex swap of cash, stock, and a group of craft magazines, including Leisure Arts.

The sides agreed to the deal in February of this year, needing only MLB's ownership approval for the Braves to fully consummate the transaction.

In total, the cash-rich split-off will see approx. $770 million in taxes saved between Time Warner and Liberty Media.

UPDATE: The final financial figures released by the parties have, Liberty Media Corporation (Nasdaq: LINTA, LCAPA) ("Liberty") and Time Warner Inc. (NYSE: TWX) announcing Thursday, May 7th that they completed a transaction on May 16, 2007, in which Liberty exchanged approximately 68.5 million shares of Time Warner common stock, subject to a working capital adjustment, for a newly created subsidiary of Time Warner which holds the Atlanta Braves, Time Inc.'s Leisure Arts, Inc. and $960 million of cash.

While the figures have somewhat changed since this flowchart was initially created late last year, select the image below to see how the transaction will flow, with the Braves as a small part of the transaction.

Braves Sale

With these details of the transaction, there have been concerns on how the Braves might be viewed by Liberty. The Braves are not being purchased by Liberty due to their interest in the Braves. With the Braves simply being a holding in a much larger deal, MLB has worried that the new owners would not tend to the running of the franchise as they see fit. As reported earlier today , provisions are in place that guarantee that player payroll will remain at least at the same level as it has in the past three seasons (about $80 million) and a commitment that current Braves president Terry McGuirk would remain in control of the team for Liberty.

As for Liberty's partial ownership of Toronto-based DonBest.com, a gambling information business, Selig said at the announcement that they were, "working internally to resolve that." 

Odds are that Liberty will not hold onto the Braves any longer than they have to. They will be locked in till at least 2011.

"They have committed to 4 1/2 years ownership, minimum, which frankly is more than we get guaranteed from anybody else," Selig said to the Atlanta Journal-Constitution.

They will have to own the club for at least several years in order to avoid paying taxes on the sale, but beyond that, Liberty would seem to have little interest in owning the Braves. While Liberty continues to gobble up regional sports networks, and now owns the majority of DirecTV (another cash-rich split-off to avoid taxes), the direct ownership of a sports franchise breaks with their portfolio.

 
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?