What the changes say
- John C. Malone controls 50.0% of voting power, influencing corporate actions and potential change of control transactions.
What changed since the prior 10-K
New
- New
Applicable domestic and foreign laws and regulations, including tax laws, which are subject to change, could have a material adverse impact on our business
Compliance with evolving domestic and foreign laws, including tax, ticketing, licensing, and emerging AI regulations, could negatively impact financial results.
- New
John C. Malone owns shares of our common stock representing approximately 50.0% of our aggregate voting power, which puts him in a position to influence significant corporate actions and may discourage others from initiating a potential change of control transaction that may be beneficial to our stockholders
John C. Malone controls 50.0% of voting power, enabling him to influence significant corporate actions and potentially discourage change of control transactions.
- New
We are obligated to develop and maintain proper and effective internal control over financial reporting. These internal controls may not be determined to be effective, which may adversely affect investor confidence in our Company and, as a result, the value of our common stock
Failure to maintain effective internal control over financial reporting under Sarbanes-Oxley Act Section 404 could cause a loss of investor confidence and lower stock price.
Dropped
- Dropped
The 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
Historical financial information extracted from Liberty Media prior to the Split-Off may not represent future results.
- Dropped
As 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
Transitioning away from Liberty services and global contracts may cause disruptions or increased costs.
- Dropped
We have incurred, and may continue to incur, material costs not previously incurred as a result of our separation from Liberty Media
Separation from Liberty Media has caused new material costs related to reporting, compliance, tax, and HR.
- Dropped
Our 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
Agreements with Liberty Media were negotiated while a subsidiary and may not reflect arms-length terms.
- Dropped
We may not realize the potential benefits from the Split-Off in the near term or at all
- Dropped
Our 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
Anticipated benefits and reduced valuation discount from the Split-Off may not materialize in the near term.
- Dropped
We and our subsidiaries have operations outside of the United States that are subject to numerous operational risks
Reworded
- 61% rewritten
The 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
Updated to reference data security policies and vendor agreements governing personal information and broader international privacy laws.
- 57% rewritten
Broadcasting 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
Minor update referencing regional sports networks experiencing financial difficulties in recent years.
- 55% rewritten
In the future, we may qualify as 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
Updated controlled company risk to reflect Dr. Malone's 50% voting stake and proxy granted to Mr. McGuirk for 887,079 BATRB shares.
Was: In 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
- 38% rewritten
Our business’ financial success depends, in large part, on the Braves achieving on-field success
Updated postseason performance figures, noting the Braves did not make the postseason in 2025 and removing 2022 statistics.
- 27% rewritten
Data loss or other incidents or disruptions of our information systems and information system security could materially harm our business and results of operations
Changed 'Penetration of our information systems' to 'Compromises of our information systems' regarding data security incidents.
Was: Data loss or other breaches or disruptions of our information systems and information system security could materially harm our business and results of operations
- 26% rewritten
The 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
Added 'on an informed basis' to the board's duty of good faith under Nevada law.
- 25% rewritten
Viewership, and interest in baseball generally, may fluctuate due to factors outside of our control
Updated viewership description from declines in recent years to declines in certain years, and added other sports and entertainment events.
- 24% rewritten
The success of the Braves depends largely on their ability to develop, obtain and retain talented players
Maintained the core risk regarding the ability to develop, obtain, and retain talented baseball players with no substantive text changes.
- 22% rewritten
The Company’s ability to use net operating loss and disallowed business interest carryforwards to reduce future tax payments could be negatively impacted
- 21% rewritten
Our directors and officers have significant protections from individual liability under Nevada law
- 20% rewritten
The risk of injuries to key or popular players creates uncertainty and could negatively impact financial results
All 34 risk factors
Headings as the filing states them, in filing order.
Other
- 01Broadcasting 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 results57% rewritten
- 02Our business’ financial success depends, in large part, on the Braves achieving on-field success38% rewritten
- 03The success of the Braves depends largely on their ability to develop, obtain and retain talented players24% rewritten
- 04Determining 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
- 05The risk of injuries to key or popular players creates uncertainty and could negatively impact financial results20% rewritten
- 06Focus on team performance, and decisions by management, may negatively impact financial results in the short-term
- 07Organized labor matters could have an adverse effect on our financial results
- 08The organizational structure of MLB and its rules and regulations impose substantial restrictions on our and our subsidiaries’ operations
- 09The possibility of MLB expansion could create increased competition
- 10Viewership, and interest in baseball generally, may fluctuate due to factors outside of our control25% rewritten
- 11Our ability to incur indebtedness to fund our operations will be limited, which could negatively impact our operations
- 12Certain covenants included in the documents governing our indebtedness impose limitations on the liquidity of our business
- 13Our holding company structure could restrict access to funds of our subsidiaries that may be needed to pay third-party obligations
- 14Development activities, such as those associated with the Mixed-Use Development, are subject to significant risks
- 15Failure 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
- 16deterioration of physical condition of properties in the Mixed-Use Development
- 17Fans attending professional baseball games risk personal injury or accident, which could subject us to personal injury or other claims and could increase our expenses
- 18Our ability to retain and attract key personnel could adversely impact our success
- 19We may be adversely affected by the occurrence of extraordinary events, such as terrorist attacks or future pandemics or epidemics
- 20Poor weather may adversely affect attendance at professional baseball games
- 21Data loss or other incidents or disruptions of our information systems and information system security could materially harm our business and results of operations27% rewritten
- 22The 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 rights61% rewritten
- 23The Company’s ability to use net operating loss and disallowed business interest carryforwards to reduce future tax payments could be negatively impacted22% rewritten
- 24Applicable domestic and foreign laws and regulations, including tax laws, which are subject to change, could have a material adverse impact on our businessNew
- 25Our multi-series structure may depress the trading price of the shares of our common stock
- 26It may be difficult for a third-party to acquire us, even if doing so may be beneficial to our stockholders
- 27John C. Malone owns shares of our common stock representing approximately 50.0% of our aggregate voting power, which puts him in a position to influence significant corporate actions and may discourage others from initiating a potential change of control transaction that may be beneficial to our stockholdersNew
- 28In the future, we may qualify as 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 companies55% rewritten
- 29Our multi-series voting structure may limit our stockholders’ ability to influence corporate matters and future issuances of BATRB may further dilute voting power of shares of BATRA
- 30The 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 thereof26% rewritten
- 31We may have a significant indemnity obligation to Liberty Media
- 32Weak or uncertain economic conditions may impact our business, including reduced consumer demand for products, services and events offered by us
- 33Our directors and officers have significant protections from individual liability under Nevada law21% rewritten
- 34We are obligated to develop and maintain proper and effective internal control over financial reporting. These internal controls may not be determined to be effective, which may adversely affect investor confidence in our Company and, as a result, the value of our common stockNew
Other Atlanta Braves Holdings 10-Ks
- FY2024 10-K risk factors38 risks
Financial success depends heavily on the Atlanta Braves achieving on-field success and player retention.
Filed Mar 03, 2025
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.