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One Week After Delaying Vote, Will Crane Be Approved As New Astros Owner? PDF Print E-mail
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MLB Club Sales
Written by Maury Brown   
Monday, 22 August 2011 14:29

Jom CraneLast week, MLB announced that as part of their quarterly owners meetings, the vote to approve the $680 million sale of the Houston Astros to Jim Crane was being delayed. The league cited the need for continued due-diligence on the large group of investors in Crane’s group.

"The Jim Crane group is a large group, and the commissioner called today and said for a number of reasons, they have not been able to complete all of the work, both with the financial and the investigation, and it should take no more than 10 days to two weeks to get that completed," current Astros owner Drayton McLane said last Monday. "The financing is good. I think the investigation of the individuals, they are some of the most outstanding people in Houston. I see no issue, whatsoever."

But, as of today, word is the due-diligence process continues and there is no definitive word from league sources as to whether a vote might occur this week. Could the votes simply not be there for Crane? If no vote is conducted this week, by Monday of next week, that will become the key topic of discussion as the sale process drags on.

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, and is a contributor to Forbes SportsMoney blog.. He is available as a freelance writer. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network (select his name in the dropdown provided).

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