Venue Detail
Atlanta Braves
RSV Pro Facilities Report
February, 2016
Atlanta Braves
PO Box 4064 Atlanta, GA 30302 Phone: 404-522-7630 Fax: 404-685-9800 URL: www.atlantabraves.com Owner: Liberty Media League: Major League Baseball, National League, Eastern
Venue
SunTrust Park, , Marietta, GA Owner: Cobb-Marietta County Coliseum and Exhibit Hall Authority Built: 2017 Capacity: 41,500 Soft drink:
Naming rights
Sold to: SunTrust Bank Term: 25 years Expires: 2029
Ticket prices
Season tickets range from $486 to $7,290 Single tickets range from $6.00 to $90.00
Attendance
2013 average attendance: 31,465 2014 average attendance: 29,065
Club seats
Quantity: 4,000 Price: $7,055 to $39,425
Financing
The Braves’ ballpark and surrounding development cost more than $1 billion. A security filing from Braves owners Liberty allots $672 million for SunTrust Park and $452 million for the surrounding mixed-use development. It adds up to a total cost of above $1.1 billion. The next price tag for discussion has fewer zeroes but just as much debate: a double-decker pedestrian bridge that would allow stadium access. It cost $ 9 million, none from the Braves.
The Cobb County Commission approved plans for a new $672 million Braves stadium in its backyard.
The crucial vote – which directs $300 million in taxpayer dollars to the development – came two weeks and a day after the Braves made a stunning announcement the team was moving from downtown Atlanta to the suburbs.
This deal calls for the Braves and Cobb County to build an estimated $672 million, 41,500-seat, open-air ballpark in time for the start of the 2017 season.
Adjacent to the new ballpark is a proposed $400 million mixed-use retail development that the Braves will largely control and that will be privately funded.
While the county will fund approximately 45 percent of the cost, the Braves are responsible for up to $372 million, which could drop to $322 million if the team exercises its option to reduce the project budget by $50 million. The reduction, if made, would be related to a decreased need for parking structures, Plant said.
In any case, $92 million of the Braves' contribution will come from additional bonds to be issued by Cobb but to be repaid, including interest, with annual payments of $6.1 million by the team to the county. In all, the Cobb-Marietta Coliseum and Exhibit Hall Authority will issue $368 million in bonds, the total of the $276 million to be repaid with the various taxes and the $92 million to be repaid with the Braves payments.
The coliseum and authority unanimously approved the financing.
The Braves will incur private debt for the bulk of their remaining contribution, repaying the loan with team revenue streams, according to club officials. Naming rights and sponsorship sales will be among those streams.
Much remains to be done before Major League Baseball is played in Cobb County.
While the memorandum of understanding contains the key terms of a deal, more definitive contracts must be negotiated.
Meanwhile, the team plans to move quickly in hiring an architect and proceeding with design work.
Dallas-based architecture firm HKS has been consulting with the team on the project.
Chairman seats, located between the dugouts directly behind the field-hugging SunTrust Club section, are $215 per game ($17,845 per season), while executive seats, which are behind the chairman seats, are $160 per game ($13,280 per season). (Facilities, Baseball, MLB, Professional Sports, Venue)