T
he Atlanta Braves believe Wall Street undervalues their commercial real estate assets, which make up a significant portion of the team's balance sheet. At an investor day event, executives touted their $1 billion portfolio as a key driver of growth and a cornerstone of their business model. The team has invested heavily in mixed-use development around Truist Park, including the recent acquisition of Pennant Park for $93 million.

    Braves Chairman Terry McGuirk and MLB Commissioner Rob Manfred highlighted the franchise's approach to monetizing ballparks through development. They cited the 2017 move to Cobb County and the creation of The Battery Atlanta as a game-changing model for stadium economics. The team is expanding its footprint around The Battery, with new tenants like Shake Shack and Truist Securities, and a 250,000-square-foot headquarters building under construction.

    Despite their market cap of $2.73 billion, Braves executives argue that their real estate holdings are worth over $1 billion. They see this as an opportunity to increase value and reduce the seasonal volatility of baseball-related revenue. McGuirk dismissed plans to spin off the team's baseball and real estate operations, leaving open the possibility of investing in other sports and entertainment assets.