Forbes: Astros Value Estimated at $474 million
$474 million will buy a lot of oranges.
Back in November, it was widely reported that Astros owner Drayton McLane was looking to sell his major league franchise. Today, Forbes released its annual list of MLB Team Values and it's good news-bad news for McLane.
The good news is the team's overall value is $474 million, up 5 percent from last year's $453 million value. The bad news is their ranking at 14th is the lowest they have been in the last ten years. They have ranked between tenth and 12th every year except 2004, when they were ranked ninth.
The other bit of good news, particularly for potential buyers, is that only six teams have a smaller debt-to-value ratio and the team increased its estimated operating income by nearly 100 percent in one year.
It won't mean much to fans, who will likely have to struggle through another season of youthful growing pains, but we feel certain it will put a smile on McLane's face, but what doesn't?
Get the Weekly Newsletter
Our weekly feature stories, movie reviews, calendar picks and more - minus the newsprint and sent directly to your inbox.