Report: Cobb to Fund 45 Percent of Braves Stadium

Cobb County will finance 45 percent of the estimated $672 million cost for a new Atlanta Braves stadium near Cumberland Mall, according to a published report this morning. 

The Marietta Daily Journal quoted Cobb Commission Chairman Tim Lee as saying that the county's share of the cost "will be funded without a tax increase for over 95 percent of Cobb County residents. This is a public-private partnership and the Braves are paying for 55 percent of the cost.”

He did not elaborate, as details of the financing plan may be revealed later today. The 45 percent share comes to a little more than $300 million for the proposed 42,000-seat stadium near the intersection of interstates 285 and 75.

The newspaper story, which is behind a paywall, also quoted North Cobb Commissioner Helen Goreham as saying that "the taxpayers are going to be pleased with the arrangement that is going to be shared with the media very shortly.” 

She didn't offer any more information than that, as Cobb officials have been tight-lipped since the Braves announced on Monday they would be relocating from Turner Field for the 2017 season.

Bob Ott, the commissioner who represents the Smyrna-Vinings area where the stadium would be located, told Patch he also was "comfortable with" the outline of the financing plan presented to him in the last week.

But, he said, his final support depends on the financial details. 

Earlier reports indicated that Cobb would be on the hook for $450 million of the stadium cost, but Cobb officials disputed that number, which was cited by Atlanta Mayor Kasim Reed. 

Cobb commissioners are expected to vote on a memorandum of understanding between the county and the Braves on Nov. 26.