Mattress Mack Not Pursuing Legal Action Against Astros
Jim "Mattress Mack" McIngvale lost about $13M when the Astros won the '17 World Series as a result of a store promotion, but has no plans to pursue any legal action against the team in the wake of MLB's punishments for illegal sign-stealing. "Oh, no. I would never do that," McIngvale said. "I'm fine. Believe me, I'm a huge Astros fan. I think it's a shame what happened. But I bleed orange and blue. I have no problem with the Astros."
McIngvale's promotion involved giving 100% rebates to customers who bought mattresses or bases totaling more than $3,000 during the '17 season. Even after seven-figure bets in Nevada to hedge his play -- betting on the Astros to win the World Series -- he was out $13M.
He ran the same promotion at his Houston store, Gallery Furniture, each of the past two seasons and lost millions more on insurance and hedges, but he said it was still worth it for the publicity and goodwill of the community it garnered. "I am not all that upset on the money I lost on the Astros because I knew what I was getting into because it was great for the customers," McIngvale said.
"It was great for the community," he added. "And I think the Astros will be coming back this season bigger and better than ever." Gallery Furniture's website is running the same promotion for the '20 season.
McIngvale said, too, he was sorry to see now-fired Astros manager A.J. Hinch and GM Jeff Luhnow leave "because they are brilliant people." McIngvale: "Obviously the Astros had to do what they had to do." He added, "I like A.J. I like Jeff. I bleed orange and blue. I support the Houston Astros and I ain't changing."
McIngvale spoke to SBJ on Monday, after the Texans had blown a 24-0 lead against the Chiefs on Sunday to ultimately lose their AFC Divisional Playoff game 51-31. "It's been a surreal 24 hours in Houston sports for people like me who are sponsors," he said.