Friday, May 13, 2011

Deal to sell Astros is in place

Mark Berman (aka, "The Hardest Working Man in Showbusiness") has the report that Drayton has made the agreement to sell the Astros to Jim Crane.

Transfer of ownership could begin towards the middle of next week, but McLane says the MLB approval process could take four to six weeks. While they haven't announced a price, that part has apparently been agreed upon for quite some time.

Drayton is also lobbying for Pam Gardner, Tal Smith, and Ed Wade to keep their jobs...for a while:
"I have negotiated with Jim and he has definitely not told me what his plans for management...They have great people here, but one of the things a new owner can do, he can determine what leaders he wants, but I've encouraged Jim to finish the year with the group he has, but that's his decision."

In a post this morning, Justice advised Wade not to sign a long-term lease, and that the appointment of George Postolos as CEO pretty much eliminates the need for Gardner's job.

Justice:
But the Astros as we know them are in for dramatic changes. It’ll take time and millions of dollars to get them competitive on the field again, but the turnaround will begin the moment ownership of the team is transferred. And over the next year, a new franchise will take shape.

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