Atlanta Braves, ‘the model' in MLB, could have added payroll at trade deadline
'We had dry powder in our arsenal for (the) trade deadline this year, for payroll,' McGuirk said Thursday on an investor call. 'Our threshold for investment there was basically that investment either needed to move us towards a playoff position this year, or help us dramatically in '26. And our limited activity during that period sort of reflected the inability of the market to meet those two requirements.'
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The Braves' revenues are up 12 percent through the first six months of the year, the team said in a quarterly earnings report Thursday, despite a 47-66 record that has them 17 1/2 games out of first place. The Braves have brought in about $360 million through the first half of 2025, an increase of about $40 million from the same period in 2024. The team played the same number of home games, 40, in both periods. The Braves were the host of this year's All-Star Game and the accompanying festivities, as well.
'What we have built in Atlanta is the model that every other MLB franchise is chasing because of our ability to deliver consistent results in a cyclical sports team environment,' McGuirk said.
Yet, on the field, the Braves are having a tough go. At the trade deadline, the team didn't deal pending free agents Raisel Iglesias and Marcell Ozuna despite being so far out of contention, while it added a couple rotation stopgaps in Carlos Carrasco and Erick Fedde.
'As we have the continuing upward trend of our business, will those dollars be reinvested in payroll? I'd start off saying that we have been a top-10 payroll team for some period of time,' McGuirk said, repeating an analyst's question. 'I see us continuing to maybe move up that ladder.'
The Braves are projected to finish the year with a payroll of about $230 million, per FanGraphs.
McGuirk pegged the team's performance woes on injuries, and said 'it's a challenge to compete in the short run.'
'This season has been a difficult one,' McGuirk said. 'We have endured some of the hardest injury news I have ever witnessed. Since Opening Day, we have lost all five of our opening day starting pitchers to injuries, and Ronald (Acuña Jr.) is once again on the IL.
'We're disappointed with the year. There's some underperformance, but the majority of it is injuries and missing players. Everyone is back for spring training '26. … We were a favorite to potentially be in the World Series this year. I think we will line up in that kind of a mode again next spring, and we will take a very hard look at the team and at everything that contributes to winning and losing during this off season.'
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The Braves break down their earnings into two large buckets: baseball and mixed-use development, with the latter tied to its real-estate holdings around the ballpark in an area known as The Battery. Both have improved as the Braves have struggled on the field.
Mixed-use revenue grew 37 percent in the first half of 2025, accounting for about $12 million of the growth. But the baseball side was still the main driver: it's grown 10 percent this year, and provided the remaining $28 million.
'The business model that we have created here at the Battery … drives consistent fan loyalty and economic success in a game where winning and losing can turn on the luck of an injury,' McGuirk said.
Ticket sales could slow from here, however.
'We continue to see strong demand for our tickets overall, but we do expect to see some reductions in attendance now that school has started and given our team performance,' team president Derek Schiller said Thursday.
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