Major League Baseball

MLB postpones vote on Astros sale

Published Aug. 15, 2011 1:00 a.m. ET

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Major League Baseball has postponed a vote to approve the proposed sale of the Houston Astros from Drayton McLane to Jim Crane.

The $680 million agreement was reached May 16, and baseball Commissioner Bud Selig said at the All-Star game last month that the sale was on track for approval. Owners had anticipated a vote when they meet Thursday in Cooperstown.

''The standard due diligence that must be completed before any transaction of this magnitude can close remains ongoing,'' the commissioner's office said in a statement Monday. ''Because that procedure is continuing, it is not expected that the proposed sale of the Astros will go to the approval process at this week's owners meetings. Major League Baseball will continue to work as expeditiously as possible to complete the process.''

Houston's proposed sale price trails only the $845 million purchase of the Chicago Cubs by the Ricketts family two years ago. The $660 million sale of the Boston Red Sox in 2002 currently is second.

Like the Astros' deal, the transactions involving the Cubs and Red Sox included related entities.

With the postponement of the vote, no major actions are expected at the owners' meeting.

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