Here Is The City

Astros Escape Enron

The owner of the Astros major league baseball team, Drayton McLane Jr, thought that he had sorted things for a long time to come when he sold the naming rights to the Astros stadium to Enron.

The former energy giant signed a $100m contract in 1998 payable over 30 years.

McLane repurchased the rights back from the company for $2.1m when Enron filed for bankruptcy. He will not be rushed into selecting a new sponsor this time around, but is believed to be considering offers from eight corporations who want their name on the stadium.

The price is thought to be in the region of $3m - $4m per year for the next 28 years.

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