The CEO of Atlanta Braves Just Announced his Retirement

Now that the Atlanta Braves are a stand-alone public business, president and CEO Derek Schiller acknowledges that he frequently monitors the team’s stock price.

Beyond those glimpses into the market, though, the veteran team executive is trying to minimize the internal impact of the organization’s split with Liberty Media.

This week, the Braves finished their long-awaited separation from Liberty and started trading on Wednesday. The Braves intend to maintain their winning streak unhindered as the top team in MLB both on and off the field.

Schiller informed Front Office Sports, “We’re going to operate the same way today that we did yesterday.” “The formula for success is still the same as we move forward. The primary distinction nowadays is more transparency, which implies an increase in attorneys, accountants, and watchful eyes for those kinds of matters.

After rising 24% at the opening bell, Braves stock sank 15% on its first day of trading. However, the team’s market capitalization at the start of trading was $2.74 billion, in accordance with external valuations.

Given that the corporate separation lessens the tax ramifications of such a transfer, the split is thought to be a possible prelude to the sale of the club. Despite the fact that Liberty chairman John Malone owns almost half of the team’s shares, Schiller stated that a sale is not likely.

Schiller stated, “Liberty Media has shown no signs of selling the team—quite the contrary.” “They’ve been really content, and they advise us to keep it that way.”