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Intangibles | 12 Months Ended
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Dec. 31, 2024
Intangibles |
Intangibles | 5.Intangibles The following table summarizes the Company’s intangible assets and liabilities: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of December 31, 2024 | ​ | As of December 31, 2023
​ | ​ | ​ | ​ | ​ | Accumulated | ​ | Net | ​ | Gross | ​ | Accumulated | ​ | Net
​ | ​ | Gross Asset | ​ | (Amortization)/ | ​ | Carrying | ​ | Asset | ​ | (Amortization)/ | ​ | Carrying
in thousands | ​ | (Liability) |  | Accretion |  | Amount |  | (Liability) |  | Accretion |  | Amount
Intangible Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
License agreement with MLB (a) | ​ | $ | 24,872 | ​ | $ | (9,949) |  | $ | 14,923 | ​ | $ | 24,872 |  | $ | (7,354) |  | $ | 17,518
Other definite lived intangibles (b) | ​ | ​ | 6,844 | ​ | ​ | (4,388) |  | ​ | 2,456 | ​ | ​ | 6,844 |  | ​ | (3,828) |  | ​ | 3,016
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​
Tenant leases: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ |  |  | ​ |  |  | ​ | ​
Below-market | ​ | ​ | (3,679) | ​ | ​ | 3,679 |  | ​ | — | ​ | ​ | (3,679) |  | ​ | 3,403 |  | ​ | (276)
Total amortizing intangibles | ​ | $ | 28,037 |  | $ | (10,658) |  | $ | 17,379 | ​ | $ | 28,037 |  | $ | (7,779) |  | $ | 20,258
| (a) | Represents 10-year player development agreement between the Aviators and MLB.
| (b) | Includes a franchise relationship and food and beverage contract associated with the Aviators
​ The tenant below-market lease intangible liabilities resulted from real estate acquisitions. The below-market tenant leases are included in Accounts payable and other liabilities and are amortized over the remaining non-cancelable terms of the respective leases. See Note 4 – Other Assets and Liabilities for additional information regarding Other assets, net and Accounts payable and other liabilities. The Company has no indefinite lived intangible assets. Net amortization and accretion expense for these intangible assets and liabilities was $2.9 million, $2.8 million, and $2.8 million in 2024, 2023, and 2022, respectively. Future net amortization and accretion expense is estimated for each of the five succeeding years as shown below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
in thousands |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029
Net amortization and accretion expense |  | $ | 3,155 | ​ | $ | 3,155 |  | $ | 2,895 | ​ | $ | 2,844 | ​ | $ | 2,844
5. |

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