Investments in Affiliates Accounted for Using the Equity Method |
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| Investments in Affiliates Accounted for Using the Equity Method | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments in Affiliates Accounted for Using the Equity Method | (4)Investments in Affiliates Accounted for Using the Equity Method The following table includes the Company’s carrying amount and percentage ownership of its investments in affiliates:
The following table presents the Company’s share of earnings (losses) of affiliates, net:
MLBAM MLB Advanced Media, L.P. (“MLBAM”) was formed in January 2000 pursuant to a vote of the 30 owners of the Clubs, whereby each Club agreed to cede substantially all of its individual Club internet and interactive media rights to MLBAM for an indirect 3.3% interest in MLBAM. The Company’s investment in MLBAM is considered an equity method investment as the investment is in a limited partnership where significant influence is generally presumed to exist. At the time of a prior acquisition, the fair value of the MLBAM investment exceeded the Company’s proportionate share of MLBAM’s net assets, resulting in excess basis in the investment in MLBAM. The excess basis as of June 30, 2026 and December 31, 2025 was indefinite lived and aggregated to approximately $10.3 million. BELP Baseball Endowment, L.P. (“BELP”) is an investment fund formed by the Clubs principally for the purpose of investing, on a long-term basis, assets on their behalf intended to provide a competitive market rate investment return while minimizing investment volatility. The Company’s investment in BELP is considered an equity method investment as the investment is in a limited partnership where significant influence is generally presumed to exist. The Company records its share of BELP’s earnings (losses) on a one-month lag. Other Affiliates The Company has 50% interests in various joint ventures that were formed to develop, own and operate hotels within the Mixed-Use Development. The equity method of accounting is applied to these investments as the Company does not have the ability to direct the most significant activities that impact their economic performance. In addition, the Company records its share of the earnings (losses) of these investments on a three-month lag. |
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