Monday, March 14, 2011

John Moores interested in buying Astros, but there's a catch

John Moores is the majority owner of the Padres. He also has interest in the Astros. But he can't (potentially) buy the Astros until he transfers/sells his majority stake of the Padres to minority owner Jeff Moorad.

When will that happen? Well, they have three years to complete the deal, but Moorad says it won't happen before Opening Day:
"We may very well accelerate it, but we've made no decision on when that will be."

3 comments:

Anonymous said...

Is there any evidence that this is actually true? Jon Heyman floated this rumor about a year ago in an SI.com column but Moores quickly shot it down. Until this weekend's MLB.com article, I hadn't seen a single news article linking Moores to the Astros since McLane formally announced the team is for sale.

Astros County said...

It looks like it. The link was to an MLB.com article, and the San Diego Union Tribune had a similar story.

Anonymous said...

Well, the San Diego story simply echoed the MLB.com story, which didn't offer any sourcing. I wonder if there's any real fire here or if it's all smoke. It seems hard to believe Moores had to sell the $500 million Padres, during good economic times, because of his divorce, but now will have $600 or $700 million or more for the Astros (after his divorce, after taxes on the Padres proceeds, and with credit markets very tight). Time will tell, I suppose.