MLB owners today in Milwaukee unanimously approved the $610M and long-delayed sale of the Astros to Houston businessman Jim Crane, part of a series of sweeping league announcements that also included the Astros moving to the AL West in '13 and the introduction of two additional wild cards as soon as next year. The specific playoff format to accommodate the extra slots has not yet been finalized, but it is likely the two wild card teams in each league will play a one-game first-round playoff, placing a significant premium on teams winning the division.
While the Crane approval was expected, it had been thought the formal announcement of the much-discussed realignment and playoff changes might wait until a new labor deal with the MLBPA was finalized. "This is a historic day," said MLB Commissioner Bud Selig, in part referencing the sport's first realignment since the Brewers switched leagues in '98. "This will be very good for us. It's a monumental day."
Crane was scheduled at presstime to meet later today with media in Houston. The $610M sale, set to close formally early next week, represents a reduction from an original $680M figure. Crane negotiated the reduction, arguing the likelihood of higher operating costs given heightened travel within the AL West, the need to pay for a DH, and larger overall salaries in the AL.
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Responsibility to fund the $70M decrease will be split between McLane and MLB. Still, McLane netted more than five-and-a-half times the $117M he paid for the Astros in '92.
"It feels very good," said Crane, who succeeded on his fourth attempt to purchase an MLB team and successfully shook off numerous questions regarding his business background. "I've been trying for a long time. I'm from Missouri. I'm stubborn. Now we've got it done. I want to thank Drayton for all he has done. He's a big part of getting us over the finish line."
Meanwhile, MLB Exec VP/Labor Relations & HR Rob Manfred reiterated that he is "really confident" a new five-year labor deal with the MLBPA will be struck very soon, perhaps within a matter of days. In addition, the shift in designated control executive for the Giants from outgoing CEO Bill Neukom to new CEO Larry Baer was also approved, as expected.
