Astros Owner Jim Crane on Monday said that his “long-term plan to rebuild the franchise remains on track despite financial losses associated with the collapse” of CSN Houston, the “unexpected late-season firing of manager Bo Porter and a third consecutive 90-plus loss season under his ownership,” according to David Barron of the HOUSTON CHRONICLE. Crane said that his Houston Baseball Partners ownership group has “sufficient capital despite the loss” of $80M in rights fees from CSN Houston to “invest this offseason in free agent signings.” He added that the pending end of the RSN’s bankruptcy case will “provide money and marketing heft to bring more fans into the ballpark” in ‘15. Barron noted U.S. Bankruptcy Judge Marvin Isgur will “decide next week whether to approve a proposal to sell the bankrupt Astros-Rockets-Comcast partnership" to DirecTV Sports Networks and AT&T. That proposal, which the teams “support and Comcast opposes, would wipe out” the Astros’ 46.5% interest in the TV partnership, which Crane has valued at $326M, along with the possibility of “recovering lost rights fees but would provide coverage on DirecTV and AT&T U-verse.” He said that it also includes annual rights fees to the teams that are “roughly equivalent” to those provided under the deal with Comcast that “went unpaid because of CSN Houston’s financial woes.” Crane said that without the CSN Houston ownership revenue, the “only way to make up the revenue gap with the Rangers and other well-funded” AL teams is “by filling the seats at Minute Maid Park.” He realizes that the team’s image "has been damaged by the CSN Houston carriage brouhaha, which has affected marketing and sponsorship relationships.” Meanwhile, Crane said that there have been “no changes in the ownership group and that the group remains committed to his rebuilding plan” (CHRON.com, 9/30).
