Monday, February 1, 2010

Maury Brown: Get used to the idea of the Astros' sale

The Biz of Baseball's Maury Brown has a note about the on-again-off-again sale of the Astros:

Astros do not own some or all of a regional sports network, and Minute Maid Park, the home of the club, is owned by the Harris County-Houston Sports Authority. The Astros have a 30-year lease that began in 2000 and runs till 2029, with annual payments of $7.1 million. According to Forbes’ most recent report from last year, there was still $55 million in outstanding debt on the facility. The magazine’s annual valuation report for the 30 clubs in Major League Baseball ranked the Astros 12th in the league at $445 million, down 4 percent from $463 million in their 2008 publication. Based on Forbes most recent report from April of 2009, the operating income for the Astros, a measure of profitability, was $17 million.

Based upon McLane’s lofty asking price, and the club’s current valuation, it’s very possible that the Astros will remain on the market for some time.

No comments: