Atlanta Braves Face $19 Million Tax-Hike Battle Over Player Pay

The Atlanta Braves, the country’s only publicly traded Major League Baseball team, is facing off against the US tax code in a lonely battle that threatens to cost the franchise millions.

A little-known tax rule soon to go into effect will restrict public corporations from deducting the salaries paid to their highest compensated employees. For Atlanta Braves Holdings Inc., those employees are players — including first baseman Matt Olson, third baseman Austin Riley and former National League Most Valuable Player Ronald Acuña Jr.

Privately held teams like the New York Mets, owned by Point72 Asset Management founder ...