ATLANTA — Just months after the Atlanta Braves became the only publicly traded team on the stock market in Major League Baseball, the team now has a billionaire investor.
Warren Buffett and his holding company Berkshire Hathaway, a multinational conglomerate mega-fund, bought stock in Atlanta Braves Holdings, Inc. on Wednesday, according to a report from Front Office Sports.
On the most recent filing submitted to the Securities and Exchange Commission, Berkshire Hathaway is shown to have purchased over 200,000 shares in Atlanta Bravess Holding, Inc. for just under $8 million.
Berkshire Hathaway currently has the highest share price in the world, with the stock trading for over $542,000 per share as of Wednesday night.
The move to become publicly traded came as a result of a business move by Liberty Media, the now-former parent company of the Braves, back in July. Liberty split the Braves off from the rest of its properties to create Atlanta Braves Holdings, Inc. The split came roughly eight months after Liberty Media announced they would split the team back in November.
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Speaking on July 18 about the new business arrangement, Braves President Derek Schiller said it wouldn't disrupt the team's operations but could give fans an opportunity to feel a new level of investment in the team.
The Braves are just the second team in baseball history to become publicly traded. The then-Cleveland Indians became available on the open market for a short period of time on Nasqad in the late 1990s. The Toronto Blue Jays are owned by the city-based Rogers Communications, which has owned the team since 2000. The company is publicly traded, but the team is not.