News that the Los Angeles Rams baseball team is getting a new owner shares of the Atlanta Braves higher on Tuesday afternoon.

The same thing happened in April, after reports that the San Diego Padres were close to a sale to an investor group for $3.9 billion, as reported by the The Wall Street Journal and others.

On Tuesday, the MLB reported that the Los Angeles Rams owner Stan Kroenke has entered an agreement to purchase the Angels, with the transaction expected to become official in the first quarter of 2027, pending Major League approval. The deal would end Arte Moreno's 23-year tenure as the Angels owner.

While the report didn't mention a price, the Journal reported it to be $4 billion, which would be an MLB record.

That's good news for shares of Atlanta Braves Holdings, the only publicly traded Major League Baseball team. Higher valuations for rival teams are a boon for its stock. The Braves have high attendance, strong popularity in the Southeast, a history of success on the field, and an attractive real estate development around their stadium, Truist Park. Baseball revenue was about $600 million last year.

Its nonvoting Series C stock closed up 1.3% on Tuesday, at $50.21, snapping a four-day losing streak and posting its largest percent increase since Aug. 19, according to Dow Jones Market Data. Shares traded as high as $51.08 intraday, up more than 3%. They eased back a bit after hours, drifting lower by 0.4%.

The Braves' current market cap is $3.296 billion. The Series C stock is up 27.3% this year, and 15% over the past 12 months.

Kroenke, a billionaire real estate mogul, also owns the Denver Nuggets NBA team, Colorado Avalanche NHL team, Colorado Rapids pro soccer team, Colorado Mammoth pro lacrosse team, and Arsenal Football Club in the Premier League.

The Angels have won six division titles, but haven't had a winning record since 2015, and currently have a 53-85 record, tied for the worst mark in the AL, the MLB report said.