We advised the debt exchange party and the secondary offering underwriter

Davis Polk advised the debt exchange party in connection with the $60.9 million debt-for-equity exchange of 1,811,066 shares of Series C common stock of Atlanta Braves Holdings, Inc. held by Liberty Media Corporation. In addition, Davis Polk advised the underwriter in connection with the sale by the selling stockholder of 1,811,066 shares of Series C common stock of Atlanta Braves Holdings, Inc.

Atlanta Braves Holdings, Inc. consists of 100% of the ownership and voting interest in Braves Holdings, LLC, which is the owner and operator of the Atlanta Braves Major League Baseball Club and the mixed-use real estate development The Battery Atlanta and is the operator of the Atlanta Braves Major League Baseball Club’s stadium, Truist Park.

The Davis Polk capital markets team included partner Byron B. Rooney and associates David Li and Joyce Kim. The finance team included partner James A. Florack, counsel Mayer J. Steinman and associate Jenny Dai. Partner William A. Curran provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice. Partners Eric McLaughlin and Zachary J. Zweihorn provided regulatory advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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