Drayton McLane Plans to Sell Astros

Filed under: Astros, Sports Business and Media

The Texas Rangers reached the World Series months after completing a change of ownership. Will the Lone Star State's other big league team be so lucky? We're about to find out.

Astros owner Drayton McLane announced Friday that the team is for sale. Word had emerged Thursday night that McLane had hired the New York firm Allen & Company -- which has been involved in several franchise sales -- to help with the process.

"Our family has loved being involved with the Houston Astros," McLane said Friday at a news conference at Minute Maid Park. "But it's time to change and move forward."

The Houston Chronicle reported the Astros might draw between $700 million and $800 million from a buyer. The Rangers sold for $590 million this summer after a contentious process that ended in an auction.

 

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Source: http://mlb.fanhouse.com/2010/11/19/drayton-mclane-plans-to-sell-astros/

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