There is no verified public evidence of a direct business, ownership, employment, or board relationship between Liberty Braves and Vas Narasimhan. Liberty Braves was the name associated with Liberty Media’s former Atlanta Braves tracking-stock group, while Vasant “Vas” Narasimhan is a physician and the CEO of pharmaceutical company Novartis.
The two names belong to very different business worlds. Liberty Braves was connected to professional baseball, media ownership, and real estate. Narasimhan’s career has centered on medicine, pharmaceutical research, drug development, and global healthcare. A review of current corporate biographies, board information, SEC filings, and Atlanta Braves Holdings records does not identify a formal connection between them.
What Does “Liberty Braves” Mean?
“Liberty Braves” generally refers to the Liberty Braves Group, a former tracking-stock group created by Liberty Media Corporation to represent the economic performance of its Atlanta Braves-related assets.
Liberty Media announced plans in 2015 to reorganize its common stock into separate tracking-stock groups, including the Liberty Braves Group. The structure allowed investors to gain market exposure primarily tied to the Atlanta Braves baseball franchise and related assets without Liberty Media creating an entirely independent company at that stage.
A tracking stock is different from ordinary ownership of a separate subsidiary. Its financial performance is associated with a designated collection of businesses or assets, while the underlying businesses can remain legally controlled by the parent company.
The Braves-related tracking stocks eventually traded under:
| Series | Historical Liberty Braves ticker |
|---|---|
| Series A | BATRA |
| Series B | BATRB |
| Series C | BATRK |
The primary assets behind the Braves Group included the Atlanta Braves Major League Baseball franchise and businesses connected with the team’s stadium and surrounding development.
How Liberty Media Became Connected to the Atlanta Braves
Liberty Media’s relationship with the Braves began long before the Liberty Braves tracking stocks appeared.
On May 16, 2007, Liberty completed a transaction with Time Warner in which Liberty exchanged approximately 68.5 million Time Warner shares for a subsidiary holding the Atlanta Braves, Leisure Arts and $960 million in cash. Major League Baseball approved the transaction.
The Braves were initially attributed to Liberty’s broader portfolio. Years later, Liberty created the Braves tracking-stock structure so the market could more clearly value the baseball franchise and its associated businesses separately from Liberty’s other major investments.
That history explains why searches may use phrases such as:
- Liberty Braves
- Liberty Media Braves
- Liberty Braves Group
- BATRA
- BATRK
- Atlanta Braves Holdings
They are related terms, but they do not all describe the same corporate structure today.
What Happened to the Liberty Braves Group?
The Liberty Braves Group no longer exists in its former tracking-stock form.
Liberty Media completed the split-off of Atlanta Braves Holdings, Inc. on July 18, 2023. The businesses and assets formerly attributed to the Braves Group were transferred into the newly independent Atlanta Braves Holdings.
Each Liberty Braves Series A, B, or C share was exchanged on a one-for-one basis for the corresponding series of Atlanta Braves Holdings common stock. Nasdaq confirmed that the old Liberty Braves securities stopped trading after July 18, 2023, while the new Atlanta Braves Holdings securities began trading on July 19 under the familiar BATRA and BATRK symbols.
This distinction is important. Someone searching for “Liberty Braves” today may actually be looking for Atlanta Braves Holdings, Inc.
What Is Atlanta Braves Holdings Today?
Atlanta Braves Holdings is now a separate publicly traded company whose businesses primarily include the Atlanta Braves Major League Baseball franchise and the real estate operation centered on The Battery Atlanta, the mixed-use district adjacent to Truist Park.
The company is led by Terence “Terry” McGuirk, who serves as Chairman, President and CEO of Atlanta Braves Holdings. He also oversees the Braves franchise and Braves Development Company.
Its current publicly traded securities include Series A stock under BATRA and Series C stock under BATRK.
Latest Financial Position
Atlanta Braves Holdings reported $732.5 million in total revenue for 2025, compared with approximately $662.7 million in 2024. Of the 2025 total:
- Baseball revenue was about $635.1 million
- Mixed-use development revenue was approximately $97.4 million
The company reported $108 million of adjusted OIBDA for 2025, while its operating result remained a $14 million loss.
More recently, Atlanta Braves Holdings reported $377.1 million in total revenue for the first six months of 2026, up about 5% from the comparable 2025 period. Second-quarter 2026 revenue was approximately $305.1 million.
Those figures confirm that the former Liberty Braves assets continue operating as a substantial independent sports and real-estate business.
Who Is Vas Narasimhan?
Vasant “Vas” Narasimhan, M.D. is an American physician and business executive who has served as Chief Executive Officer of Novartis since February 2018.
He joined Novartis in 2005 and worked in several senior positions before becoming CEO, including:
- Global Head of Development for Novartis Vaccines
- Global Head of Development at Novartis Pharmaceuticals
- Global Head of Drug Development
- Chief Medical Officer
Narasimhan earned a bachelor’s degree in biological sciences from the University of Chicago, an M.D. from Harvard Medical School, and a master’s degree in public policy from Harvard University’s John F. Kennedy School of Government.
His professional background is therefore fundamentally different from the businesses represented by Liberty Braves.
What Vas Narasimhan Does at Novartis
Narasimhan has led Novartis through a strategy emphasizing innovative medicines rather than a broadly diversified healthcare portfolio.
According to Novartis, the company under his leadership has focused on therapeutic areas and technologies including cardiovascular medicine, oncology, immunology, neuroscience, small interfering RNA therapies, radioligand therapies, and cell and gene therapies.
Novartis says its medicines reached more than 300 million patients during 2025, while the company operated across approximately 120 countries with more than 77,000 associates.
His official current mandates listed by Novartis include roles associated with organizations such as Anthropic, the Pharmaceutical Research and Manufacturers of America and the International Federation of Pharmaceutical Manufacturers & Associations. His official biography does not list Liberty Media, Atlanta Braves Holdings or the Atlanta Braves among his mandates.
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Liberty Braves and Vas Narasimhan: What Is the Actual Connection?
Based on available authoritative records, no formal connection has been established between Liberty Braves and Vas Narasimhan.
There is no verified evidence showing Narasimhan as:
| Possible relationship | Verified? |
|---|---|
| Liberty Braves executive | No public evidence found |
| Atlanta Braves Holdings executive | No |
| Braves board member | No |
| Liberty Media director | No public evidence found |
| Major Braves shareholder disclosed through these records | Not established |
| Business partner of Atlanta Braves Holdings | Not established |
| Employee of a Braves-related company | No |
| Corporate adviser to the Braves | No verified evidence found |
Atlanta Braves Holdings’ current leadership and board disclosures identify its directors and senior executives, and Narasimhan is not among them.
Likewise, Narasimhan’s official Novartis profile describes his major outside mandates and professional affiliations without identifying a Liberty Braves or Atlanta Braves Holdings role.
That does not prove that the individuals or organizations have never crossed paths indirectly. Public executives can attend the same events, use the same financial institutions, or participate in broad industry networks. It does mean that a material corporate or professional connection is not supported by the authoritative public records reviewed for this article.
Why Might These Names Appear Together in Search Results?
The pairing may result from search-engine entity matching rather than an actual relationship.
Both terms can appear in financial and corporate datasets. Liberty Braves and later Atlanta Braves Holdings are publicly traded entities with SEC filings, while Narasimhan appears extensively in public-company documents because Novartis is a major listed pharmaceutical corporation.
Automated databases, investment websites, search engines, and AI-generated pages sometimes combine unrelated entities when processing:
- executive names
- publicly traded companies
- SEC filings
- compensation information
- ownership information
- board memberships
- financial-market keywords
Readers should therefore avoid assuming that two names appearing together in a search query indicate a documented business relationship.
Is Liberty Braves Still a Company or Stock?
Not in its old form.
The Liberty Braves Group was a Liberty Media tracking-stock structure. After the July 2023 transaction, its assets became part of the independent Atlanta Braves Holdings, Inc.
The BATRA and BATRK ticker symbols remained in use, which can cause confusion because Nasdaq effectively reused the symbols for the newly independent company’s securities. Nasdaq specifically warned market-data providers that historical Liberty Braves securities and the new Atlanta Braves Holdings securities were different issues despite sharing ticker symbols.
Vas Narasimhan’s Compensation and Financial Information
Reliable public records provide details about Narasimhan’s executive compensation, but they do not provide a definitive independently verified personal net worth.
Novartis reported total 2025 compensation at grant value for Narasimhan of approximately CHF 15.19 million, compared with CHF 14.19 million for 2024. The 2025 amount included salary, annual incentives, long-term performance awards, other payments and pension benefits.
For 2026, the Novartis board approved a 5% increase in his annual base salary, from approximately CHF 1.90 million to approximately CHF 2.00 million, effective March 1, 2026.
These disclosed compensation figures should not be confused with net worth. Personal wealth estimates found on unofficial celebrity or finance websites often rely on assumptions about investments, taxes, property, historical equity awards and spending that cannot be independently confirmed.
There is also no basis in these disclosures for connecting Narasimhan’s compensation or personal finances to Liberty Braves.
Key Facts at a Glance
| Topic | Verified information |
|---|---|
| Liberty Braves | Former Liberty Media tracking-stock group |
| Main asset | Atlanta Braves and associated real estate businesses |
| Liberty acquisition of Braves | 2007 |
| Liberty Braves tracking-stock era | Began in 2016 |
| Split-off completed | July 18, 2023 |
| Successor company | Atlanta Braves Holdings, Inc. |
| Current public tickers | BATRA and BATRK |
| Atlanta Braves Holdings CEO | Terry McGuirk |
| Vas Narasimhan | CEO of Novartis |
| Narasimhan became Novartis CEO | February 1, 2018 |
| Verified Liberty Braves-Narasimhan relationship | None established in reviewed public records |
Frequently Asked Questions
Are Liberty Braves and Vas Narasimhan connected?
No documented direct relationship has been established in the authoritative corporate records reviewed. Liberty Braves was associated with Liberty Media’s Atlanta Braves assets, while Vas Narasimhan is the CEO of Novartis.
What was Liberty Braves?
Liberty Braves usually refers to Liberty Media’s former Liberty Braves Group, whose tracking stocks reflected the economic performance of the Atlanta Braves franchise and related assets. It was not the name of an individual.
Does Liberty Media still own the Atlanta Braves?
The former Braves businesses were split off from Liberty Media in July 2023 into Atlanta Braves Holdings, Inc., creating a separate publicly traded company.
Is Vas Narasimhan on the Atlanta Braves board?
No. Atlanta Braves Holdings’ published board information does not list Narasimhan as a director.
What company does Vas Narasimhan run?
Vas Narasimhan is the CEO of Novartis, the Switzerland-based global medicines company. He has held the chief executive position since 2018.
What happened to BATRA and BATRK after the Liberty Braves split-off?
The old Liberty Braves Series A and Series C securities ceased trading in July 2023. Atlanta Braves Holdings subsequently began using BATRA and BATRK for its own Series A and Series C shares, respectively.
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