Atlanta Braves wait to play as MLB and MLBPA bicker - Tomahawk Take

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The Atlanta Braves' projected loss of $65M will grow with or without an agreement.

The Atlanta Braves could lose $100M this year. (Photo by Taylor Weidman/Getty Images)

Teams are losing money every day, and that will continue with or without an agreement. The only difference is the final red number. Below is the quarterly report for January through March 2020.

Revenue
Corporate and other	$	22		$	22
Operating Income
Corporate and other	$	-49		$	-44
Adjusted OIBDA
Corporate and other	$	-33		$	-26
The following table provides the operating results of Braves Holdings, LLC ("Braves").
		1Q19			1Q20	% Change
Baseball revenue	$	14		$	12	-14	%
Development revenue		8			10	25	%
Total revenue		22			22	—	%
Operating expenses (excluding stock-based compensation included below):
Other operating expenses		-31			-29	6	%
Selling, general and administrative expenses		-22			-18	18	%
Adjusted OIBDA	$	-31		$	-25	19	%
Stock-based compensation		-3			-3	—	%
Depreciation and Amortization		-13			-15	-15	%
Operating income	$	-47		$	-43	9	%
Number of home games		—			—

The Atlanta Braves lost $43M before the country went into hibernation. The team is still paying their lease for Truist Park and Cool Today Field, as well as making their loan payments on existing debt.

As Alan wrote a few days ago, the Braves are paying their front office a reduced amount and their minor league players through June 30.

In a 76 game season with a full postseason, team payroll comes in at about $53.1M. The Braves will earn nothing from the ballpark and get a reduced dollar amount from the TV contract. Looking at last year's form 10-K, it's pretty easy to predict a loss nearing triple digits.

That's a wrap

The latest offer isn't perfect, but no offer can meet that standard. The union has a Wednesday deadline to negotiate the proposal into a reality. As time passes, MLB will lower the number of possible games.

If the union continues to stonewall, the commissioner will use his power under the rules to declare a season of 48 games and the union's full negotiated prorated pay.

If there's no play, or limited play, followed by a lot of angry rhetoric leading up to the next CBA, the game looks headed for trouble.

Next: Would 50 work?

Both sides should understand that, unfortunately, neither seems to care, the principles are too busy playing mine is longer than yours, to work together. No one ever wins that contest.

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