It won't be long before the Astros have a new owner. After 19 years of ownership, Drayton McLane confirmed to Brian McTaggart of MLB.com that he has agreed to sell the Astros to a group led by Houston businessman Jim Crane. Though the sides are finalizing details and it will take weeks for MLB to approve the pending sale, McLane is confident the deal will be completed.
"We have an understanding, and Jim's an honorable person, and I am, too," McLane said. "We have an overall agreement, but things come up."
McLane had been negotiating exclusively with Crane and the sides have agreed on a price, reportedly about $680MM. McLane hopes to make an announcement by the middle of next week. Houston attorney Kenny Friedman, the father of Rays executive Andrew Friedman, also had interest in buying the Astros.