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Astros Hold Press Conference in Regards to Sale of Team

The Houston Astros plan to hold a press conference Monday to announce the sale of the team from Drayton McLane to an owners group led by Jim Crane, pending the approval from Major League Baseball.

Bob Levey, Getty Images
Bob Levey, Getty Images

The press conference comes just three days shy of the six month mark when McLane and investment banker Steve Greenberg gathered the news media together at Minute Maid Park to announce the team was for sale, with a projected timeline of 6 to 12 months.

The process won’t become officially over until Major League Baseball approves the $680 million dollar transaction, which if done won’t occur until later this summer.

McLane stated Sunday that a deal was not yet signed, however; the planning of a press conference indicates the last step before bowing out for McLane, who has owned the Astros since 1992, presiding over the longest run of sustained success in franchise history before the team’s current dry spell.

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