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Braves stadium deal details released; Cobb to pay $300 million

Let's pick it apart, CL money gurus! According to the just released details, Cobb County would pay a total of $300 million to build the proposed Atlanta Braves stadium near I-285 and I-75. The Braves would pick up the remainder of the costs for the $672 million ballpark that, pending approval by the Cobb County Commission later this month, would become the team's new home after decades playing near Downtown.

The local contribution adds up to approximately $17.9 million per year. It includes $14 million from the county's transportation department, money to operate a circulator, hotel and motel taxes, car rental taxes, and cash from the nearby Cumberland Community Improvement District, a business group that imposes a tax on itself to pay for area improvements and projects. It also includes an $8.67 million "reallocation of revenues." The county notes that it would not include a property tax hike on Cobb homeowners.

The Braves would handle cost overruns but would retain exclusive rights to the stadium and all revenue, minus the small share the county would receive for naming rights.



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