Iceman101
11-18-2010, 10:18 PM
Major League Baseball sources told FOX 26 Sports Houston Astros owner Drayton McLane, Jr. has retained Allen & Co.,an investment-banking firm in New York City, to help him sell his franchise.
MLB sources told FOX 26 Allen & Co. will attempt to sell the Astros franchise for $800 million.
McLane has owned the Astros since 1992.
He has been the most successful owner in the history of the franchise and one of the most successful owners to ever grace the professional sports scene in Houston.
From 1993 to 2010 the Astros own the fourth-best record in the National League.
The Astros reached the postseason in six of the past 14 seasons which includes National League Central Division titles in 1997, 1998, 1999 and 2001.
The franchise won Wild Card berths in 2004 and 2005.
In 2005 the Astros won the National League championship and earned its first trip to the World Series.
From 1993 to 2009 only the New York Yankees, Atlanta Braves, Boston Red Sox and St. Louis Cardinals made the playoffs more than the Astros.
Prior to McLane buying the franchise in1992 the Astros made the postseason only three times in the first 31 years (1962-1992) of the franchise.
Included in his financial committment to the team during his tenure as owner, McLane made sure former Astros stars Jeff Bagwell and Craig Biggio played their entire careers in a Houston uniform.
McLane's success with the Astros includes his vision and efforts toward the construction of Minute Maid Park, moving his franchise there from the Astrodome in 2000.
The Astros home has proven to be one of Major League Baseball's finest parks.
And even with the eventual sale of his franchise on the horizon, McLane decided last month to spend as much as $12 million for the first major renovations to Minute Maid Park.
The project includes the addition of the second largest HD video board in Major League Baseball.
McLane has not been available for comment.
A key figure in Allen & Co. is Steve Greenberg, son of Hall of Famer Hank Greenberg.
In a May 25, 2010 article Fortune Magazine labels Greenberg "King of the Sports Deal."
According to Fortune, among Greenberg's many sports deals, he counseled Major League Baseball Commissioner Bud Selig and his family during their sale of the Milwaukee Brewers.
http://www.myfoxhouston.com/dpp/sports/mlb/101118-astros-officially-for-sale
Wishful thinking: Mark Cuban
MLB sources told FOX 26 Allen & Co. will attempt to sell the Astros franchise for $800 million.
McLane has owned the Astros since 1992.
He has been the most successful owner in the history of the franchise and one of the most successful owners to ever grace the professional sports scene in Houston.
From 1993 to 2010 the Astros own the fourth-best record in the National League.
The Astros reached the postseason in six of the past 14 seasons which includes National League Central Division titles in 1997, 1998, 1999 and 2001.
The franchise won Wild Card berths in 2004 and 2005.
In 2005 the Astros won the National League championship and earned its first trip to the World Series.
From 1993 to 2009 only the New York Yankees, Atlanta Braves, Boston Red Sox and St. Louis Cardinals made the playoffs more than the Astros.
Prior to McLane buying the franchise in1992 the Astros made the postseason only three times in the first 31 years (1962-1992) of the franchise.
Included in his financial committment to the team during his tenure as owner, McLane made sure former Astros stars Jeff Bagwell and Craig Biggio played their entire careers in a Houston uniform.
McLane's success with the Astros includes his vision and efforts toward the construction of Minute Maid Park, moving his franchise there from the Astrodome in 2000.
The Astros home has proven to be one of Major League Baseball's finest parks.
And even with the eventual sale of his franchise on the horizon, McLane decided last month to spend as much as $12 million for the first major renovations to Minute Maid Park.
The project includes the addition of the second largest HD video board in Major League Baseball.
McLane has not been available for comment.
A key figure in Allen & Co. is Steve Greenberg, son of Hall of Famer Hank Greenberg.
In a May 25, 2010 article Fortune Magazine labels Greenberg "King of the Sports Deal."
According to Fortune, among Greenberg's many sports deals, he counseled Major League Baseball Commissioner Bud Selig and his family during their sale of the Milwaukee Brewers.
http://www.myfoxhouston.com/dpp/sports/mlb/101118-astros-officially-for-sale
Wishful thinking: Mark Cuban