APNewsBreak: Astros sale to Crane set for approval
Friday, November 11, 2011
NEW YORK (AP) -- Two people familiar with the negotiations told The Associated Press that the proposed sale of the Houston Astros from Drayton McLane to Jim Crane is on the agenda for approval when baseball owners meet next Thursday in Milwaukee.
As part of the agreement, McLane, Crane and Major League Baseball have reached an understanding on how a possible shift of the franchise to the American League in 2013 would take place. The people spoke Friday to the AP on condition of anonymity because MLB had made no announcements.
McLane and Crane announced an agreement on May 16. The deal was valued at $680 million, the second-highest purchase price in baseball history behind the $845 million purchase of the Chicago Cubs by the Ricketts family two years ago.