March 20, 2003
Poor Ted!
Ted Turner can't afford to buy the Braves.
Turner bought the Braves for about $10 million in 1976. He sold the team and the rest of his cable empire to Time Warner in 1996 for $7.5 billion, becoming the company's largest shareholder in the process. The Braves are now worth about $424 million, according to an estimate by Forbes magazine.
Turner has lost $7 billion to $8 billion from his net worth as AOL Time Warner's stock has plunged. After pledging $1 billion to the United Nations, he recently said he would extend the duration of payments to more than 10 years.
Not that I feel sorry for him, but it's too bad for the Braves. I'm afraid that AOL won't be able to maintain the team at the level to which they are accustomed.
Posted by David Pinto at
07:21 PM
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Owners