Home MLB News MLB Club Sales Astros to Announce Sales Agreement to Jim Crane Today

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 634 guests online

Atom RSS

Astros to Announce Sales Agreement to Jim Crane Today PDF Print E-mail
User Rating: / 4
PoorBest 
MLB Club Sales
Written by Maury Brown   
Monday, 16 May 2011 10:23

AstrosUPDATE: The Astros have called a 2pm CT press conference to announce the sales agreement between McLane and Crain


The long process of selling the Houston Astros could be coming to a close.

Multiple sources have said that a sales agreement between current owner Drayton McLane and Houston businessman Jim Crane could be announced as early as today. The Astros have not commented on the sale. The reported sale price is $680 million. Drayton McLane purchased the Astros for $117 million in 1992. Accounting for inflation, in today’s dollars that would be worth approx $180 million. He will also receive $95 million in monies associated to the new regional sports network being started with the Houston Rockets.
If a sales agreement is reached, final approval on the sale transfer would need to come from a vote of 75 percent of the league's 30 owners.

More details as they become available


SPECIAL BUSINESS OF SPORTS NETWORK REPORTS:
The Labor Battle in the NFL. See BizOfFootball.com for details

Welcome to the 2011 Business of Sports Network Autism Challenge


Maury BrownMaury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey, as well as a contributor to FanGraphs and Forbes SportsMoney. He is available for hire or freelance. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.

Follow Maury Brown on Twitter Twitter

Follow The Biz of Baseball on Twitter Twitter

FacebookFollow the Business of Sports Network on Facebook

 
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?