Astros Owner McLane Puts Team Up for Sale Due to Estate Planning Issues

Drayton McLane, who has owned the Astros since 1992 and seen the team through six playoff appearances, the opening of Minute Maid Park in 2000, and the team’s only World Series berth in 2005, announced last week that he is now accepting offers to sell the franchise. McLane stated that one of the reasons he is putting the team up for sale is because of estate planning issues

McLane purchased the Astros 18 years ago for $117 million. He has not set an asking price, but Forbes Magazine valued the Astros at $451 million earlier this year.

See Brian McTaggart, Astros Owner McLane Puts Club on Market, MLB.com, Nov. 19, 2010.

Special thanks to Peter Parlapiano (2011 MBA/M.S. PFP candidate, Texas Tech) for bringing this article to my attention