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Midas Edge

Atlanta Braves Holdings, Inc.

For the period ended Dec 31, 2025. Filed Feb 26, 2026.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 26, 2026

BATRA$57.43-0.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Item 15. Exhibits and Financial Statement Schedules

(a)(1)Financial Statements

Included in Part II of this Report:

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​Page No.
Atlanta Braves Holdings, Inc.:​
Reports of Independent Registered Public Accounting Firm (KPMG LLP, Atlanta, GA, Auditor Firm ID: 185)II-12
Consolidated Balance Sheets, December 31, 2025 and 2024II-15
Consolidated Statements of Operations, Years ended December 31, 2025, 2024 and 2023II-17
Consolidated Statements of Comprehensive Earnings (Loss), Years ended December 31, 2025, 2024 and 2023II-18
Consolidated Statements of Cash Flows, Years ended December 31, 2025, 2024 and 2023II-19
Consolidated Statements of Equity, Years ended December 31, 2025, 2024 and 2023II-20
Notes to Consolidated Financial Statements, December 31, 2025, 2024 and 2023II-21

(a)(2)* Financial Statement Schedules*

(i)All schedules have been omitted because they are not applicable, not material or the required information is set forth in the financial statements or notes thereto.

(a)(3) Exhibits

Listed below are the exhibits which are filed as a part of this Report (according to the number assigned to them in Item 601 of Regulation S-K):

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2 - Plan of Acquisition, Reorganization, Arrangement, Liquidation or Succession:
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2.1Reorganization Agreement, dated as of June 28, 2023, by and between Liberty Media Corporation and the Registrant (incorporated by reference to Exhibit 2.1 of the Registrant’s Current Report on Form 8-K filed on July 18, 2023 (the “July 2023 8-K”)).
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3 - Articles of Incorporation and Bylaws:
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3.1Amended and Restated Articles of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 of the July 2023 8-K).
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3.2Amended and Restated Bylaws of the Registrant (incorporated by reference to Exhibit 3.2 of the July 2023 8-K).
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4 - Instruments Defining the Rights of Securities Holders, including Indentures:
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4.1Description of the Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934 (incorporated by reference to Exhibit 4.1 of the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2023 filed on February 28, 2024 (the “February 2024 10-K”)).
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iv-1

10 - Material Contracts:
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10.1+Atlanta Braves Holdings, Inc. 2023 Omnibus Incentive Plan (incorporated by reference to Exhibit 10.1 to the Amendment No. 2 to the Registrant’s Form S-4 filed on April 6, 2023 (the “S-4”)).
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10.2+Atlanta Braves Holdings, Inc. Transitional Stock Adjustment Plan (incorporated by reference to Exhibit 10.2 of the S-4).
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10.3+Form of Indemnification Agreement by and between the Registrant and its executive officers/directors (incorporated by reference to Exhibit 10.7 to the Amendment No. 3 to the Registrant’s Form S-4 filed on April 28, 2023).
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10.4Stadium Operating Agreement, dated May 27, 2014, by and among Braves Stadium Company, LLC, Cobb-Marietta Coliseum and Exhibit Hall Authority and Cobb County, Georgia (incorporated by reference to Exhibit 10.9 of the S-4).
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10.5Tax Sharing Agreement, dated as of July 18, 2023, by and between Liberty Media Corporation and the Registrant (incorporated by reference to Exhibit 10.1 of the July 2023 8-K).
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10.6Services Agreement, dated as of July 18, 2023, by and between Liberty Media Corporation and the Registrant (incorporated by reference to Exhibit 10.2 of the July 2023 8-K).
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10.7+Form of Restricted Stock Units Agreement (Non-Employee Director) (incorporated by reference to Exhibit 10.10 of the Registrant’s Form S-1 filed on September 8, 2023 (the “S-1”)).
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10.8+Form of Non-Qualified Stock Option Agreement (Non-Employee Director) (incorporated by reference to Exhibit 10.11 of the Form S-1).
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10.9+Form of Non-Qualified Stock Option Agreement under the Atlanta Braves Holdings, Inc. 2023 Omnibus Incentive Plan, as amended from time to time, for certain officers of the company and Atlanta Braves (incorporated by reference to Exhibit 10.1 of the Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 filed on May 8, 2024 (the “2024 First Quarter 10-Q”)).
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10.10+Form of Restricted Stock Unit Agreement under the Atlanta Braves Holdings, Inc. 2023 Omnibus Incentive Plan, as amended from time to time, for certain officers of the company and Atlanta Braves (incorporated by reference to Exhibit 10.2 to the 2024 First Quarter 10-Q).
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10.11+Form of Performance Restricted Stock Unit Agreement under the Atlanta Braves Holdings, Inc. 2023 Omnibus Incentive Plan, as amended from time to time, for certain officers of the company and Atlanta Braves (incorporated by reference to Exhibit 10.3 to the 2024 First Quarter 10-Q).
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10.12+Employment Agreement, dated March 6, 2023 by and between Atlanta National League Baseball Club, LLC and Jill Robinson (incorporated by reference to Exhibit 10.15 of the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2024 filed on March 3, 2025 (the “March 2025 10-K”).
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10.13+Employment Agreement, dated January 1, 2023 by and between Atlanta National League Baseball Club, LLC and Derek Schiller (incorporated by reference to Exhibit 10.16 to the March 2025 10-K).
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10.14+Employment Agreement, dated March 15, 2023 by and between Atlanta National League Baseball Club, LLC and Mike Plant (incorporated by reference to Exhibit 10.17 to the March 2025 10-K).
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iv-2

10.15+Employment Agreement, dated March 6, 2023 by and between Atlanta National League Baseball Club, LLC and Greg Heller (incorporated by reference to Exhibit 10.18 to the March 2025 10-K).
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10.16+Form of Performance Stock Unit Agreement under the Atlanta Braves Holdings, Inc. 2023 Omnibus Incentive Plan, as amended from time to time, for certain officers and employees of the Company (incorporated by reference to Exhibit 10.1 of the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 filed on August 7, 2025).
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19.1Insider Trading Policy (incorporated by reference to Exhibit 19.1 to the March 2025 10-K).
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21Subsidiaries of Atlanta Braves Holdings, Inc.*
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23.1Consent of KPMG LLP.*
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31.1Rule 13a-14(a)/15d - 14(a) Certification.*
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31.2Rule 13a-14(a)/15d - 14(a) Certification.*
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32Section 1350 Certification.**
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97Atlanta Braves Holdings, Inc. Policy for the Recovery of Erroneously Awarded Compensation (incorporated by reference to Exhibit 97 to the February 2024 10-K).
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101.INSInline XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.*
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101.SCHInline XBRL Taxonomy Extension Schema Document.*
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101.CALInline XBRL Taxonomy Calculation Linkbase Document.*
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101.LABInline XBRL Taxonomy Label Linkbase Document.*
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101.PREInline XBRL Taxonomy Presentation Linkbase Document.*
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101.DEFInline XBRL Taxonomy Definition Document.*
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104Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
  • Filed herewith.

** Furnished herewith.

  • This document has been identified as a management contract or compensatory plan or arrangement.
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