As expected, baseball owners approved the sale of the Atlanta Braves from Time Warner to Colorado-based Liberty Media on Wednesday.

Liberty, a communications giant, has no interest in baseball. The company bought the team for tax reasons. It had been a major stockholder in Time Warner. Purchasing the team allowed the company to make a tax-free redemption of the stock.

Here's what the sale means to the Braves and baseball fans:

The Braves are now a self-governed subsidiary of Liberty Media. Club president Terry McGuirk will continue to run the show and it appears as if Hank Aaron, at the urging of commissioner Bud Selig, could have a more significant role than his current figurehead status.

Liberty Media has pledged to keep the team for at least 41/2 years and not reduce the operating budget, including the team payroll, which stands at about $82 million this season.