Jump to Navigation

Houston Astros not part of divorce settlement

Property division proceedings can vary significantly from case to case. High asset divorce settlements, for instance, can have a profound impact on multiple parties in instances where the ownership of business entities comes into question. Company employees and investors can have questions or concerns about how the future of their business may be affected by the valuation and division of marital property. A real life example of high-asset property division concerns can be found in the divorce proceedings of the owner of a major Texas sports team.

Sports fans, players and team investors recently got news that the future of the Houston Astros baseball team would not be affected by the divorce settlement of team owner Jim Crane. The divorce of Crane and his wife of 21 years was said to be finalized, and reportedly accounted for the division of multiple forms of assets. Representatives for both divorcing parties noted, however, that the settlement would not affect Crane’s ownership stake in the team.

Confronted by issues regarding baseball teams being subject to property division proceedings in the past, the MLB and Crane addressed the topic when he bought the Astros. And while Crane’s now ex-wife did not pursue ownership of the team during divorce settlement negotiations, she would reportedly receive $30 million with interest over a five-year period.

The tone of divorce settlement arrangements can depend on many factors, including the effectiveness of property division negotiations. Anyone with questions or concerns about his or her investments during divorce proceedings has the right to speak with an experienced attorney today.

Source: Houston Chronicle, “Jim Crane’s divorce finalized; financial settlement said to have ‘no effect’ on Astros,” Evan Drellich, Feb. 13, 2015

No Comments

Leave a comment
Comment Information
Contact Form

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Location

Law Office of Roland R. Esparza, P.C.
325 S Flores St.,
San Antonio, TX 78204

Phone: 210-807-8158
Toll Free: 888-447-9456
Fax: 210-227-5353
San Antonio Law Office Map

Subscribe to this blog’s feed FindLaw Network
Pay Your Invoice with LawPay