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Braves, Cobb Release Draft Agreement Documents

Team and County closing in on final deal for new Cumberland-area ballpark; Cobb Board of Commissioners to vote on proposed agreements later this month.

The Atlanta Braves hope to be playing in a new Cumberland-area ballpark in 2017. Courtesy Atlanta Braves
The Atlanta Braves hope to be playing in a new Cumberland-area ballpark in 2017. Courtesy Atlanta Braves
On Wednesday, Cobb County and the Atlanta Braves released documents that outline the details of a framework agreement the Cobb Board of Commissioners approved with the baseball club last November.

The five documents at the bottom of this article reflect the draft agreement between the County and the Braves as of Wednesday, May 7 and are subject to change as negotiations continue.

The Cobb Board of Commissioners anticipates voting on the proposed agreements on May 27 during their regularly scheduled commission meeting. The agreements are necessary before construction can commence on the new Cumberland-area ballpark that the Braves hope to be playing in beginning with the 2017 season.

The documents show the Braves will be responsible for all construction cost overruns, and the team will be playing in the new stadium through the 2046 season.

The stadium development agreement outlines the project’s budget and taxpayers’ obligations toward funding its construction. The budget lists the “total project cost” at $622 million, with a “maximum stadium cost” of $672 million.

The “county contribution” toward the budget is $368 million, including $92 million the county says will be repaid with $6.1 million in annual rent payments from the team. 

Cobb is planning a $368 million bond issuance to finance the stadium.

At $230 million, the Braves are slated to pay 37 percent of the stadium project’s up-front costs, which could increase to 42 percent if the team contributes $50 million in discretionary funds.

Read more here.

Assurance Agreement DRAFT 05-06-14 

Construction Administration Agreement DRAFT 05-06-14 

Development Agreement DRAFT 05-06-14 

Non-Relocation Agreement DRAFT 05-06-14 

Stadium Operating Agreement DRAFT 5-7-14
Jeff Goodman May 08, 2014 at 09:45 AM
Great job by the BOC for getting the Braves to come to Cobb County!
Ira May 08, 2014 at 04:23 PM
I agree Jeff. The BOC did a wonderful job in putting this together. It amazes me people think the BOC should put issues to vote instead of doing the job they are elected to do. This will be a good thing for Cobb County.
Brian May 08, 2014 at 08:18 PM
Agreed. This is good for the county.
Jacquelyn Bettadapur May 09, 2014 at 07:36 AM
Government sponsorship and subsidies for wealthy, private corporate interests. It is corporate welfare, pure and simple. Socialism at its best.
Richard "the Equalizer" Pellegrino May 09, 2014 at 06:32 PM
Jeff, Ira and Brian....I guess you are in favor of shady backroom deals which skirt all ethical standards and sunshine laws, helping to make GA top in corruption in the nation; in favor of crony capitalism, in favor of corporate welfare. This "good deal" for the county is all of the above, and we haven't even begun or signed the contracts yet, and learn more about cost overruns weekly. If this is so good for the people why did the chief negotiators tell us that if they put it to a vote by the people it would fail?

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