According to a report by Bob Allen of KTRK, the ABC affiliate in Houston, the sale of the Astros from Drayton McLane to Jim Crane is all but complete. According to the report, all that is left is “dotting of I’s and crossing of T’s and the team will be sold.”
The reported sale price is approx. $680 million. Forbes most recent valuation ranking had the Astros 14th out of the 30 clubs at $474 million.
The sale price is likely higher due to a new regional sports network being started by the Astros and NBA Rockets. And while the price was inflated through the auction process, the sale of the Texas Rangers in August of last year for $593 million likely factored into the increased sale price for the Astros.
For those thinking that the deal is imminent due to the MLB owners meetings taking place this week, think again. According to a league source, there is nothing on the agenda for the meetings that are tied to the Astros sale.
More details as they become available.
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