Houston businessman Jim Crane, who leads an investment group that reached a $680 million purchase agreement with Drayton McLane Jr. last May to buy the Astros, may be on the verge of getting final approval of the sale from Major League Baseball.
According to The Associated Press, the proposed sale will be on the agenda at the owners' meetings this upcoming week in Milwaukee.
Reports indicate the delay revolved around the condition of Crane agreeing to move the Astros to the American League in order for Major League Baseball to create two 15-team leagues.
Crane asked for a $50 million discount in the sales price last month to consent to the switch, according to a New York Post report.
The Associated Press reported Friday that McLane, Crane and MLB have reached an "understanding" on the details of how the Astros would make the switch over to the American League in 2013.
Furthermore, Jon Heyman of SI.com reports that Crane could be getting as much as an $80 million discount by agreeing to the move.
When McLane and Crane entered into their agreement last May, it was believed the sale would be finalized within 30 to 60 days.
However, reports began to surface throughout the lingering process regarding previous allegations of racial and gender discrimination, as well as war profiteering charges against Crane.
Although it was a cause for concern, the main reason behind the delay has been MLB's desire for Houston to switch to the American League.
A possible move is expected to generate an in-state rivaly between the Astros and Texas Rangers and open the door for playoff expansion.
Major League Baseball delayed the discussion and voting on the sale last August at the owners' meetings in Cooperstown, N.Y. -- something that was initially on the agenda, but then removed.
Despite the delay, McLane has always maintained a high level of optimism, telling Examiner.com of his belief the sale would go through.
On the other hand, Crane has expressed frustration toward Major League Baseball for the delay and made it known of his Nov. 30 deadline with McLane regarding the purchase agreement.
Crane, the founder of Crane Worldwide Logistics and CEO of Crane Capital, reportedly had an agreement with McLane to buy the Astros following the 2008 season, but nothing came of it.
He later fell short on a bid to buy the Chicago Cubs in 2009 and had the same thing happen last year when he attempted to purchase the Rangers as part of a group with NBA owner Mark Cuban.
If MLB approves the sale to Crane's group, it will reportedly include the ballpark owned by the Harris County-Houston Sports Authority and a regional sports network that will begin airing Houston Rockets games in 2012 and Astros games in 2013.
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