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Not so fast: Jim Crane’s approval as Astros owner put on hold

Aug 15, 2011, 3:02 PM EDT

Jim Crane AP

Jim Crane was supposed to be approved as the new owner of the Astros at this week’s owners meetings.  Now Eric Fisher of SportsBusiness Journal is reporting that the vote has been put on hold.  It’s possible that the delay is based on concerns over Crane’s business background.

These concerns are not new — Maury Brown cataloged them pretty comprehensively a couple of months ago — but they were not thought to be enough to derail Crane’s ownership bid.

Is that bid derailed, or is this just a matter of extra due diligence?  I suspect we’ll find out soon.

UPDATE: Literally one minute after I posted this, the following statement from Major League Baseball was released:

 “The standard due diligence that must be completed before any transaction of this magnitude can close remains ongoing.   Because that procedure is continuing, it is not expected that the proposed sale of the Astros will go to the approval process at this week’s owners meetings.  Major League Baseball will continue to work as expeditiously as possible to complete the process.”

  1. veryindifferent - Aug 15, 2011 at 3:11 PM

    It’s too bad all of this drama has ruined their chances for the postseason.

    • jimbo1949 - Aug 15, 2011 at 4:21 PM

      Comments like these are why I keep coming back. :-)

  2. easports82 - Aug 15, 2011 at 3:24 PM

    Crane isn’t leveraged enough for MLB?

  3. Utley's Hair - Aug 15, 2011 at 4:52 PM

    In two distinctly different places, NinJr. and Fast Eddie Wade just emulated Ric Flair.

  4. natstowngreg - Aug 15, 2011 at 5:46 PM

    MLB will work “as expeditiously as possible…” In other words, MLB will work “as expeditiously as they feel like working…” See “Replay, Instant” and “Oakland A’s, New Ballpark for.”

  5. kmgannon - Aug 15, 2011 at 5:49 PM

    Crane is a racist and sexist. His defenders will point to the fact that the EEOC complaints were resolved in the equivalent of an out-of-court settlement, but he has a big cloud over him. That, and he seems to be leveraged to the hilt. You would think, after the McCourt debacle in LA, that MLB would be wary of these red flags. Hopefully this latest occurrence is a sober reassessment of Crane’s bid.

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