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Report: McLane to sell Astros to Crane next week

Posted on: May 13, 2011 4:36 pm
Edited on: May 13, 2011 4:46 pm
 
By Matt Snyder

Astros owner Drayton McLane has been trying to sell the ballclub since November and it appears he has a deal in place -- to the frequently rumored front-runner Jim Crane. McLane said Friday the two have agreed to terms and everything should be signed sometime next week.

"We have an understanding, and Jim's an honorable person, and I am, too," McLane said. "We have an overall agreement, but things come up. Lawyers draw up complicated contracts, and we have to get all those portions of it done." (MLB.com)

McLane bought the Astros for $117 million back in 1992, so -- although the terms of the agreement aren't yet public -- he's likely going to walk away with a pretty lofty profit, considering the value of the Astros is close to $500,000,000. (Forbes.com)

Under McLane's ownership, the Astros made six playoff trips in nine seasons, including the franchise's only appearance in the World Series (2005). They also moved from the Astro Dome to Minute Maid Park in 2000.

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Comments

Since: Dec 2, 2011
Posted on: December 10, 2011 2:09 pm
 

Report: McLane to sell Astros to Crane next week

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Since: Dec 2, 2011
Posted on: December 6, 2011 12:01 pm
 

Report: McLane to sell Astros to Crane next week

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Since: Feb 1, 2008
Posted on: May 13, 2011 9:54 pm
This comment has been removed.

Post Deleted by Administrator




Since: Mar 26, 2011
Posted on: May 13, 2011 9:26 pm
 

Report: McLane to sell Astros to Crane next week

It's going to be several years before the Stros can even contend again. McLane is an honorable man, but the farm system is awful, there's no talent at the MLB club. Hats off to Drayton though, the most successful owner in the clubs history, and I've been to games at Colt Stadium.



Since: Jan 27, 2008
Posted on: May 13, 2011 8:50 pm
 

Report: McLane to sell Astros to Crane next week

I wish I could own a team, claim to be "losing money on player salaries" each year, get concessions from players, revenue sharing from the rich teams, then sell the team for a huge profit I get to keep all to myself!

Man you cant be that stupid can you?  Its possible that the guy is losing money P/L wise on a yr over yr basis and still be able to sell his investment at a capital gain?  My best comparison would be to liken it to not earning enough money at your job to pay your day to day bills but have a house that is worth more than what you paid for it.  You might only be able to hold out so long cash flow wise then you would have to sell your home.  I guess at that point someone dope who is poorer than you would say "I wish I could own a house , claim to be "losing money" each year, get a tax write off, then sell the house for a huge profit I get to keep all to myself!"



Since: Jun 3, 2010
Posted on: May 13, 2011 8:16 pm
 

Report: McLane to sell Astros to Crane next week

Six playoff trips in a nine season span.



Since: Jan 9, 2010
Posted on: May 13, 2011 8:08 pm
 

Report: McLane to sell Astros to Crane next week

"six playoff trips in nine seasons"? If he bought the team in 1992, wouldn't that be 19 seasons? I suppose CBS doesn't require their writers to have a math degree.



Since: May 10, 2011
Posted on: May 13, 2011 7:18 pm
 

Report: McLane to sell Astros to Crane next week

Awww. I was hoping Chuck Greenberg would put a group together and try to buy the Astros...



Since: Aug 11, 2008
Posted on: May 13, 2011 7:15 pm
 

Report: McLane to sell Astros to Crane next week

Next the Astros need to figure out a way to get back into the playoffs. They're only 6 years removed from the World Series and it would be nice to see them get there again. I'd like to see an Astros-Rangers World Series some day. Maybe the new owner will clean house and start over. The NL Central is some what balanced so it probably wouldn't take too long for Houston do get a solid contender soon. While I would love to have McLane's profit on this deal I don't need the headaches or the baggage that comes with that kind of money. I'd rather be poor and watch some good baseball.Laughing



Since: Jan 2, 2011
Posted on: May 13, 2011 6:24 pm
 

Report: McLane to sell Astros to Crane next week

Its called business. He made an investment and it paid off.  He obviously had money to do so..and you don't.  I hate jealous people


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