New Stadium to Keep Astros in Houston

The city that said “no” to Bud Adams, costing it professional football, said “yes” Saturday to Drayton McLane Jr. and kept major league baseball in Houston.

In a ceremony that capped weeks of negotiations, the Houston Astro owner signed an agreement with city and Harris County officials for a $265-million, retractable-roof ballpark to be built downtown.

“Our No. 1 goal is to make major league baseball a great success in Houston and for the Houston fans to feel as they do in Baltimore or they do in Cleveland or in Colorado,” McLane said at a news conference at the Astrodome, the team’s current home.

“It’s just magic when you go out to the games, and that’s what we want to achieve here,” McLane said. “So we’re relieved and excited.”

In his campaign for a new stadium, McLane produced a certified audit last month showing he lost $61.3 million since buying the team for $115 million four years ago. He insisted a new arena with more luxury boxes would net him more money.

When a new facility appeared doubtful, McLane had threatened to resume talks with Virginia businessman Bill Collins, who last fall offered a reported $160 million for the franchise. Collins wanted to move the team to the Washington suburbs in northern Virginia.

But McLane and Harris County Judge Robert Eckels, the county’s top elected official, reached a deal late Friday night for a 42,000-seat stadium that would be home to the Astros for 30 years.

The agreement still needs the approval of the 1997 Texas Legislature, Harris County commissioners, the City Council and county voters in a Nov. 5 referendum.

Public funds--mainly user fees such as hotel and car rental taxes--would provide $180 million toward the arena, which would be built by the year 2000.

The private sector, including the Astros, would pay $85 million, of which Houston Mayor Bob Lanier promised the city would guarantee $15 million in the sale of permanent seat licenses.

Eckels also said the private-public partnership also agreed to finance renovations to the Astrodome to attract another NFL franchise to replace the Oilers.