Astros owner Jim Crane surely won’t be sunk by stadium cost overruns

Jim Crane, owner of the Houston Astros, is looking to make a trade.

According to real-estate news reported in the Los Angeles Times, he will give you his oceanfront estate in Pebble Beach, Calif., in exchange for the listed price of $37.9 million.

Astros owner Jim Crane stands in front of a rendereing of the new baseball complex during the groundbreaking ceremony to kick off construction on the new Major League Baseball spring training facilityi n West Palm Beach Monday November 9, 2015. Participants included MLB commissioner Rob Manfred, the owners of the Astros and Nationals and local elected leaders. (Lannis Waters / The Palm Beach Post)
Astros owner Jim Crane stands in front of a rendering of the new baseball complex during the 2015 groundbreaking ceremony to kick off construction on the Ballpark of the Palm Beaches. (Lannis Waters / The Palm Beach Post)

We’re talking eight bedrooms, 10 bathrooms and nine fireplaces, plus a poolhouse and a cabana and a cliffside view of the Pacific.

The newspaper’s public records check showed that Crane, who also owns the Floridian golf club in Palm City, bought the Pebble Beach home for $5.5 million in 1998.

[UPDATE – Joe Capozzi of the Palm Beach Post reports that the Astros also are investing at least $25 million into converting a West Palm Beach office building into a hotel for Astros players and personnel during future spring training years]

Bottom line, don’t waste time worrying about the hardship that projected cost overruns might have at Ballpark of the Palm Beaches, the new forever spring-training home of the Astros and Washington Nationals in West Palm Beach.

The teams are responsible for anything above $135 million.

Could be that the final price tag for the stadium and all the other facilities at the Military Trail site climbs past $150 million. That will be something for Crane and Nationals owner Ted Lerner to figure out. Lerner is the billionaire who owns the sprawling Chelsea Piers entertainment complex in New York City, among other things.

Pitchers and catchers report next week to West Palm Beach’s new spring training facility for the Astros and Nationals. The Miami Marlins and St. Louis Cardinals are also due back at Jupiter’s Roger Dean Stadium, which opened in 1998 at a cost of $28 million.

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