Liberty Media Corporation announced amendments to the debt agreements of certain subsidiaries of Braves Holdings, LLC (“Braves Holdings”).

The debt agreements governing $297 million of debt at Braves Stadium Company, LLC (collectively the “Ballpark funding”) have been amended such that the applicable financial covenants will not apply until the quarter ending September 30, 2021, subject to certain conditions being met.

In addition, the credit facility at Atlanta National League Baseball Club, LLC (the “ANLBC Credit Facility”) has been amended such that the applicable financial covenant will not apply until the quarter ending March 31, 2022, subject to certain conditions being met. The ANLBC Credit Facility has total capacity of $85 million and is fully drawn as of June 30, 2020.

The aforementioned amendments require that certain conditions be met by the various borrowing entities, including but not limited to minimum liquidity thresholds.

Separately, as previously disclosed in Liberty Media’s recently filed form 10-Q, in August 2020, Braves Holdings amended the terms of a $100 million operating credit facility and extended the maturity to December 2022.

As a result of the aforementioned amendments, Braves Holdings and its subsidiaries are in compliance with all debt covenants.