The Braves moved into Turner Field after the 1996 Summer Olympics. (Joe Robbins/Getty Images) The Braves moved into Turner Field after the 1996 Summer Olympics. (Joe Robbins/Getty Images)

The Atlanta Braves announced plans on Monday to relocate to a new suburban stadium in 2017, as first reported by the Marietta Daily Journal.

The Atlanta Journal Constitution reports that Braves executives John Schuerholz, Mike Plant and Derek Schiller told a small group of reporters that the new ballpark will be built in suburban Cobb County, at the northwest intersection of I-75 and I-285 in the Galleria/Cumberland Mall area. They said the team has “secured” 60 acres of land for the project, according to the Journal-Constitution.

The Braves said that the project will be built in partnership with Cobb County. The Atlanta Journal Constitution reported that the county would provide $450 million in financing and the team would pay $200 million up front.

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The Braves will leave Turner Field when their 20-year agreement expires after the 2016 season.

The Braves released a statement explaining the move and outlining the limitations that Turner Field presents on future remodeling and expansion: