MLB approves sale of Astros to group headed by Houstonian Jim Crane

HOUSTON, TX -  The Major League Baseball Clubs have approved the sale of the Houston Astros to a group headed by Houston businessman Jim Crane, MLB Commissioner Allan H. (Bud) Selig announced today in Milwaukee, WI.

Crane’s group purchased the Astros from Drayton McLane, Jr., who had served as the club’s Chairman, Owner and CEO since purchasing the club on November 9, 1992.

Selig said: “I welcome Jim Crane and his group as they prepare to become the new stewards of the Astros.  I thank them for their patience and determination throughout a long but necessary process, which allowed us to accomplish our due diligence.  The enthusiasm of Jim and his group will serve the Astros and their fans very well in the years ahead.”

“This is a dream come true for my partners and I,” Crane said. “ We all love baseball and look forward to doing a great job for the city of Houston and the Astros fans. We worked long and hard to get a baseball team, and will work even harder to win a World Series for our hometown.

“Drayton has been a great owner of the Astros and created a first-class organization. We’re honored to take over this franchise. Thank you to Drayton and my partners for making this day possible.”

Crane, a former standout college baseball pitcher, heads a high-quality, mostly-local group of investors in acquiring the Astros.  The other principal investors include John Havens, Bill Morgan, Doug Bauer, John Hauck & TSI Holding Company, Greg Allen & family, Neil Kelley & Partners, Will Galtney, John Eddie Williams & Cary Patterson and Milton Carroll & Partners.

During McLane’s tenure of ownership, the Astros had the most successful run in franchise history, posting the fifth-best record in the National League over that span (1993-2011) while making six postseason appearances. In 2005, the Astros won the National League Pennant, and on October 25 of that season, hosted the first World Series game ever played in the state of Texas. From 1993-2006, the Astros posted winning records in 13 of 14 seasons.

“Our family has been proud to be a part of the Astros for the past 19 years,” McLane said. “We have had the opportunity to meet so many wonderful fans and experience many special moments. Now, the time has come for us to move on to the next challenge. We thank the great Astros fans and the many, many friends we have made for the support you have given us. It’s been a fun and wonderful ride.”

Other accomplishments during McLane’s tenure include the construction of Minute Maid Park in 2000, and the openings of the Astros Urban Youth Academy in Houston and the Astros Latin American baseball complex in the Dominican Republic. Drayton and his wife Elizabeth have helped raise and donate more than $30 million to numerous charities, including over $7 million through the Astros In Action Foundation, which was formed in 2000. 

“I congratulate Drayton McLane on his 19 years of leadership of the Houston Astros, a franchise in which he has rightfully taken great pride,” Selig said.  “Drayton’s ownership produced six Postseason berths, the Club’s first National League pennant, a ballpark that is among the finest in the sport, and many contributions that have impacted the communities of Houston and throughout his home state of Texas.  On behalf of Major League Baseball, I thank Drayton for his service to our game and I wish him and his family all the best.”

Currently, Crane is CEO and President of Crane Capital Group, Inc., and is the owner of Champion Energy Services, which ranks in the top five of nonutility-affiliated retail electric providers in the United States and is among the top 20 retail electricity companies in the nation. In August of 2008, Crane formed Crane Worldwide Logistics (CWL), a premier provider of customized transportation and logistics services. CWL has and continues to grow rapidly with experienced members of Crane’s management team and sales force at the helm. The three-year-old company will do in excess of $400 million in sales in 2011.
                            
Crane was born and raised in St. Louis, MO, and is a 1976 graduate of Central Missouri State University, where he was an outstanding, record-setting pitcher. He moved to Houston in 1982, where he entered the freight forwarding business. In March of 1984, Crane founded Eagle USA Airfreight (EGL, Inc.), which he would eventually build into an organization of more than 10,000 employees with 400-plus facilities in 139 countries. EGL was named one of Houston’s “Best Places To Work” and reached #599 on the Fortune 1000 list during Crane’s tenure.

In addition to his love of baseball, Crane is an avid golfer. In 2006, his .08 handicap earned him the number one CEO Golfer ranking by Golf Digest. In 2010, Crane acquired the Floridian, a private golf resort in Palm City, FL.