Astros owner Drayton McLane is nearing a deal to sell the team to Jim Crane, according to Richard Justice of the Houston Chronicle. Though McLane denies that he has a deal, Justice hears from insiders who insist the sides are close.
It’s not clear how much McLane will obtain for the Astros, but he will certainly turn a profit on the club he purchased for $117MM in 1992. Justice hears that the team's price tag definitely exceeds $523MM, which is how much the Rangers sold for last summer. That’s well above $474MM, the price at which Forbes recently valued the franchise.
McLane was close to selling the Astros to Crane in 2008, but the deal fell through. Crane has also attempted to buy the Cubs (2008) and Rangers (2010).