Tuesday, January 12, 2010

Forbes: No way the Astros go for $650m

A blog post from Michael Ozanian, National Editor at Forbes, takes on the report that Drayton wants $650 million:

There is no way the Astros are worth that much when the Chicago Cubs, Wrigley Field and 25% of Comcast SportsNet just went for $840 million and the Cubs generated $45 million more in revenue than the Astros last season. The 73 year old McLane wants to cash out some of the equity he has in the team he paid $103 million for in 1992 and is using interest by Schiller to see how many fish are in the pond. Top price for Astros in this economy: $525 million.

Ozanian, if this goes through, and you cost Drayton $125 million, that's a lot of groceries that are going to be taken out of your backside...

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