Houston Astros owner selling team - KTRE.com | Lufkin and Nacogdoches, Texas

Houston Astros owner selling team

HOUSTON (AP) - Houston Astros owner Drayton McLane is putting his franchise up for sale.

The 74-year-old McLane says he's retained the New York investment firm Allen and Company to help him unload the team he's owned since 1992.

KRIV-TV first reported McLane's agreement with the investment firm. Steve Greenberg, the son of Hall of Fame slugger Hank Geenberg, is the firm's managing director.

Greenberg says McLane has not settled on an asking price, but he ays he's already fielded calls inquiring about the sale. McLane met with team employees on Friday before making a formal announcement at Minute Maid Park. He says "the time is right for this," adding that his two adult sons were not interested in running the team.

The Astros have reached unprecedented success under McLane, making the playoffs six times in the past 14 years. Houston won the NL Central in 1997, '98, '99 and 2001 and earned its only World Series bid in 2005.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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