Andrew Goldsmith, PhD

The Atlanta Braves financial statements are publicly available and serve as a general guide for understanding the business of baseball. Any good accountant can move some decimals here and there, but these are a good starting ground. The Braves made $46M in profit last year on $600M in baseball revenue and currently have $150M cash reserves. They're making huge profits (only 15% expenses) from The Battery, a reminder that the business of baseball spans beyond the concourse. This shows that, yes, teams like the Braves (or your favorite franchise in the top 1/2 of baseball revenues) could probably spend more. This also shows that they could not spend anywhere near the levels of LAD, who are projected to spend $300M more this year than the Braves on payroll and taxes alone. Peep TV revenue for the Braves - incredibly strong at nearly $165M during baseball season in 2025. It's still hundreds of millions short of what LAD brings in. That's why you're starting to hear about Rob Manfred wanting to consolidate MLB's media rights. The idea that 29 other owners are just broke boys who are choosing not to spend like the Dodgers is a logical fallacy. They are not capable of sustaining losses of 8-9 figures each year. We've seen it fail time and time again in this sport. You can handle losses in the short-term, but it's not a long-term ownership strategy. With all due respect to 3YearLetterman, I'm convinced that people who think everyone should spend like this are the same ones who are financing their waterbeds. batterypower.com/atlanta-bra…