Atlanta’s new Suntrust Park has provided a fresh scene for Braves fans, but also a huge increase in revenue for the franchise. Liberty Media (BATRA), reported a $45 million (or 34%) increase over the same period last year, attributing the growth to improved performance on the field and updated amenities at the new stadium. Operating profit before depreciation and amortization was $27 million for Q2, up from $12 million from last year, however after depreciation and amortization the team showed a $3 million loss. Liberty cited an increase in property and equipment, to support the development of mixed-use real estate around the ballpark, as the cause for the rise in depreciation and amortization expenses.
Howie Long-Short: Professional sports team owners demand a new stadium every 25-30 years for exactly this reason. New buildings offer new amenities. New amenities bring new revenue.
Fan Marino: Turner Field (the old stadium) opened with the ’96 Olympics. It’s absolutely remarkable the franchise was able to squeeze the city for a new ballpark after 20 years.