Houston Astros Put Up For Sale

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Photo: AP Images

Astros’ owner Drayton McLane has hired New York-based investment firm Allen & Co. to sell his team for $800 million, FOX 26 reports.McLane bought the franchise in 1992 for a reported $112 million. Forbes values the franchise at $453M, down $10M from its 2007 peak.

Though McLane was not well regarded in Houston, the Astros were relatively successful during his ownership. They made the playoffs six times since 1993, including a 2005 World Series appearance. The club finished above .500 in 15 of McLane’s 19 seasons.

Considering the nearby Rangers were sold for $590M, McLane’s asking price seems absurdly high. But we can think of at least one Texas area billionaire who would be interested in owning another sports franchise.

See how that price compares to the cost of NFL franchises >>

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