Liberty's Braves buy OK'd by baseball owners
EmptyNEW YORK -- Hank Aaron will take on an increased role with the Atlanta Braves following the team's sale Wednesday from Time Warner Inc. to Liberty Media Corp.
The deal, which Braves chairman Terry McGuirk said values the franchise at $450 million, was unanimously approved by baseball owners at a special meeting called Wednesday night to beat a midnight change in tax laws. The companies were set to transfer the team later in the evening.
"Hank Aaron is going be a critical part of all this. It was very important to me, and I know it's very important to Terry and to Bill," commissioner Bud Selig said at a news conference with McGuirk and Braves chairman emeritus Bill Bartholomay. "I'm sure there will be an increased role for Hank."
After setting the career home run record with 755 and retiring as a player, Aaron became a Braves vice president and the director of player development in October 1976 and held that role for 13 years. He became a senior vice president in December 1989 and also currently is on the club's board of directors.
Selig wouldn't say what Aaron's increased responsibilities will be with the Braves.
"That's something they will announce," Selig said.
Time Warner and Liberty agreed to the sale in February. McGuirk said details of the complicated transaction would be announced by the companies later Wednesday.
Starting Thursday, the Braves will be a self-governed subsidiary of Liberty Media, with McGuirk reporting to the team's board in his capacity as chairman and president. John Schuerholz remains as general manager and Bobby Cox as manager.
Atlanta won 14 consecutive division titles through 2005 and defeated Cleveland in the 1995 World Series. Ted Turner took control of the Braves in 1976, and Time Warner acquired the team in 1996 when it merged with Turner Broadcasting System.