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Astros to Announce Sales Agreement to Jim Crane Today PDF Print E-mail
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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

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