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Astros owner holding a press conference this afternoon to announce team is for sale

Nov 19, 2010, 12:15 PM EDT

Drayton McClane

Reports surfaced late last night that Astros owner Drayton McLane has hired an investment bank to help him sell the team and he’s now expected to make an official announcement today with a press conference scheduled for 3:30 ET.

Zachary Levine of the Houston Chronicle reports that McLane declined to return phone calls seeking more information, but enough details have already leaked out that the picture is pretty clear.

McLane, who has owned the team since 1992, is definitely looking to sell the team rather than simply testing the waters to see what kind of offers are out there, and he’s expected to seek $800 million for the Astros and their newly created local television network.

  1. BC - Nov 19, 2010 at 12:24 PM

    Why doesn’t he save time and just put it on eBay?

  2. scardino - Nov 19, 2010 at 12:35 PM

    Start the bidding at $0.99 or it may never sell.

  3. georgeanderson2 - Nov 19, 2010 at 12:37 PM

    Call Cuban. MLB missed out with him before, now maybe they have gotten a bit smarter and will put him in the forefront.

    • Utley's Hair - Nov 19, 2010 at 12:52 PM

      He does an effective enough job of that himself. Not quite a shrinking violet is he.

  4. Utley's Hair - Nov 19, 2010 at 12:53 PM

    Hey, David Montgomery!!! Are you going to bid?

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