Atlanta Braves Holdings (BATRA) risk factors, FY2024 10-K

Other

1. 01The historical financial information included in this Annual Report on Form 10-K is not necessarily representative of our future financial position, future results of operations or future cash flows
2. 02As we begin transitioning away from services previously provided by Liberty, we may fail to replicate or replace certain functions, systems and infrastructure in a timely fashion, or at all, and may lose benefits from Liberty’s global contracts
3. 03We have incurred, and may continue to incur, material costs not previously incurred as a result of our separation from Liberty Media
4. 04Our agreements with Liberty Media were negotiated while we were still a subsidiary of Liberty Media and therefore may not be the result of arms’ length negotiations
5. 05We may have a significant indemnity obligation to Liberty Media
6. 06We may not realize the potential benefits from the Split-Off in the near term or at all
7. 07Our business’ financial success depends, in large part, on the Braves achieving on-field success
8. 08The success of the Braves depends largely on their ability to develop, obtain and retain talented players
9. 09Determining the market value of an MLB player is difficult, subject to market conditions and involves the use of subjective inputs and significant assumptions, any of which may prove to be inaccurate
10. 10The risk of injuries to key or popular players creates uncertainty and could negatively impact financial results
11. 11Focus on team performance, and decisions by management, may negatively impact financial results in the short-term
12. 12Our ability to retain and attract key personnel could adversely impact our success
13. 13The organizational structure of MLB and its rules and regulations impose substantial restrictions on our and our subsidiaries’ operations
14. 14Organized labor matters could have an adverse effect on our financial results
15. 15The possibility of MLB expansion could create increased competition
16. 16Viewership, and interest in baseball generally, may fluctuate due to factors outside of our control
17. 17Broadcasting rights, both national and local, present an important source of revenue for us, and decreases in this broadcasting revenue could have an adverse effect on our financial results
18. 18Our ability to incur indebtedness to fund our operations will be limited, which could negatively impact our operations
19. 19Certain covenants included in the documents governing our indebtedness impose limitations on the liquidity of our business
20. 20Our holding company structure could restrict access to funds of our subsidiaries that may be needed to pay third-party obligations
21. 21Our financial performance may be materially adversely affected if we do not experience the anticipated benefits of the Mixed-Use Development in the near term or at all
22. 22Development activities, such as those associated with the Mixed-Use Development, are subject to significant risks
23. 23Failure of lessees of the Mixed-Use Development to renew their leases as they expire and improvement costs associated with new leases may adversely impact our cash flow from operations, which could negatively impact our financial condition
24. 24deterioration of physical condition of properties in the Mixed-Use Development
25. 25Fans attending professional baseball games risk personal injury or accident, which could subject us to personal injury or other claims and could increase our expenses
26. 26We may be adversely affected by the occurrence of extraordinary events, such as terrorist attacks or future pandemics or epidemics
27. 27Poor weather may adversely affect attendance at professional baseball games
28. 28Data loss or other breaches or disruptions of our information systems and information system security could materially harm our business and results of operations
29. 29The processing, storage, sharing, use, disclosure and protection of personal data could give rise to liabilities as a result of governmental regulation, conflicting legal requirements or differing views of personal privacy rights
30. 30We and our subsidiaries have operations outside of the United States that are subject to numerous operational risks
31. 31The Company’s ability to use net operating loss and disallowed business interest carryforwards to reduce future tax payments could be negatively impacted
32. 32Our multi-series structure may depress the trading price of the shares of our common stock
33. 33It may be difficult for a third-party to acquire us, even if doing so may be beneficial to our stockholders
34. 34In the future, we may be deemed a “controlled company” under The Nasdaq Stock Market listing standards, and our stockholders may not have certain corporate governance protections that are available to stockholders of companies that are not controlled companies
35. 35Our multi-series voting structure may limit your ability to influence corporate matters and future issuances of BATRB may further dilute voting power of shares of BATRA
36. 36The holders of any series of our common stock, or the holders of our common stock as a whole, may not have any remedies if an action by our directors or officers prioritizes other interests or has a disparate effect on our common stock or any series thereof
37. 37Weak or uncertain economic conditions may impact our business, including reduced consumer demand for products, services and events offered by us
38. 38Our directors and officers have significant protections from individual liability under Nevada law