WSJ: " The Controversial Past of the Tycoon Behind the Astros" (And The Houston Open)
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The Wall Street Journal’s Andrew Beaton and Jared Diamond look at the more sordid moments in Jim Crane’s business career and circumstances surrounding Major League Baseball’s vetting of his 2011 Astro’s purchase for $685 million.
The story implies Commissioner Bud Selig ordered more extensive vetting than normal given the cultural issues at Crane’s business, including allegations of discrimination against minorities and women, as well as a case of war profiteering.
As with the continuing Astros cheating saga, Crane was never proven with direct links to any of the questionable acts and eventually, baseball pushed the sale through.
The people say Crane had a couple important factors on his side that helped usher the deal through. For one, he was willing to move the Astros to the American League, a move others were unwilling to make. MLB was so keen on making this happen that Crane wound up receiving a roughly 10% discount on his purchase price.
“The negotiation of the Astros move to the American League was the driving factor in the length of the vetting process,” said Giles Kibbe, the Astros’ senior vice president and general counsel. “Switching from the National to American League required renegotiation of terms, which took months.”
Moreover, there was that price: Even with the discount, it was among the highest ever for a baseball franchise, and a rich sale has the effect of boosting club values for all owners across the league.
Crane was instrumental in saving the PGA Tour’s Houston Open, and also in pushing out its longtime operators at the Houston Golf Association.
The announcement also means the Houston Golf Association is no longer the host organization of the Houston Open after 72 years. The HGA already has been cutting its staff, though executive director Steve Timms said it will remain active in its successful junior golf programs -- which includes The First Tee -- amateur tournaments and a municipal golf project to restore city golf courses in Houston.
The 2020 playing is scheduled for November 9-15th at the freshly renovated Memorial Park.
