The Atlanta Braves won the 2021 World Series beating the Houston Astros 7-0 in Game 6 Tuesday night. The championship also marked the first major sports title for a publicly traded sports team in a significant amount of time.
What Happened: The Braves beat the Astros after coming in as a +130 underdog to win the series at DraftKings Inc DKNG. The World Series aired on Fox, a unit of Fox Corp FOX.
The Braves are publicly traded as Liberty Braves Group BATRABATRK. Liberty bought the team for $400 million in 2007. The Braves had last reached the World Series in 1999 and last won it all in 1995.
Forbes valued the Braves at $1.88 billion in the last Major League Baseball team rankings, coming in at 11th on the list. Prior to the World Series, the Braves had a market capitalization of $1.42 billion and an enterprise value of $1.94 billion.
Stocks To Watch: The Braves reported second-quarter revenue of $216 million, a significant increase from the prior year with 42 home games. Many of the home games were not yet at 100% capacity.
Throughout the 2021 season, the Braves ranked second in attendance for MLB, averaging 29,490 fans. The company reports third-quarter earnings on Thursday, which could highlight the strong attendance and discuss the impact of the Playoffs and World Series.
Formula One Group FWONA and Liberty Sirius XM LSXMA own 11% and 4%, respectively, of Liberty Braves Group.
Sinclair Broadcast Group SBGI airs Braves games on Bally Sports South and Bally Sports Southeast during the season. The company could benefit from strong demand and advertiser revenue for Braves games next season.
Publicly Traded Sports Champions: The list of professional sports teams to be publicly traded and win a championship is thin.
The National Football League’s Green Bay Packers are publicly traded, owned by shareholders, but not available on a major exchange. The team has been public since 1923 and won a total of 13 championships, including Super Bowl wins in 1967, 1968, 1997 and 2011.
Manchester United MANU went public in August 2012. The team won the English Premier League for the 2012-2013 season. The team lost out on any other major hardware in the season, losing in the Champions League, FA Cup and League Cup.
The Toronto Raptors won the 2019 National Basketball Association Championship. The team is partially owned by two publicly traded companies: Rogers Communications RCI owns 37.5% of Maple Leaf Sports & Entertainment, the holding company of the Raptors. BCE Inc (Bell Canada) BCE owns 28% of Maple Leaf Sports & Entertainment.
Price Action: BATRA shares closed down 2% to $31.42 on Tuesday ahead of the World Series win.
Atlanta Braves pitcher Aaron Harang warms up from the pitching mound at Turner Field, Atlanta, Ga., Jun. 13, 2014. (U.S. Army photo by Staff Sgt. Justin P. Morelli /)
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