Tuesday, May 17, 2011

Jim Crane: the next Frank McCourt?

That's the question The Biz of Baseball asks:

Of the $680 million purchase, just under half ($300 million) is going to be financed with debt. According to Mike Ozanian of Forbes, “In 2010 the Astros had operating income of $14 million, so if Crane parks $300 million of debt on the team the franchise would be in technical default of the league’s debt limit, which is 10 times earnings before interest, taxes, depreciation and amortization.”


Anonymous said...

Yes and I've already started my little conversation with Maury himself. I like Crane and he will not be the next Frank McCourt.


Anonymous said...

Okay, then, as long as we have your word for it, I guess the $300 million in debt is no big deal.