George Postolos is the Astros new president and CEO under Jim Crane. Postolos started a company looking to purchase a sports franchise back in 2006. He teamed up with Jim Crane in 2008 when Crane first attempted to buy the Astros. The former Houston Rockets president was also rumored to be bidding on the Charlotte Bobcats and Detroit Pistons last year.
Postolos grew up in San Antonio before heading east to attend Harvard University and Harvard Law. After graduating, Postolos became an associate for Wachtell, Lipton, Rosen, & Katz. The prestigious New York law firm is considered to have the highest of standards when choosing potential associates.
In 1997 Postolos was hired as a Special Assistant to NBA Commissioner David Stern. The following year Postolos took the position of President with the Rockets. In his eight years with the Rockets the value of the franchise more than tripled. Postolos was the driving force behind construction of the team’s arena, Toyota Center. Postolos also came up with the idea of starting a regional sports network that would broadcast live sporting events of multiple teams within the market. Fox originally passed on the idea but in 2003 the Astros and Rockets teamed up to sign a $1 billion deal with Comcast. Beginning in 2013 Astros games will be carried on the new network.
Postolos is a shrewd and successful businessman with serious ties to the Houston community. Jim Crane has already stressed the importance of corporate support as a key ingredient to the Astros future success. Postolos should be able to help out in that area as well. It looks like Crane has made a good choice in George Postolos. More changes at the top could be right around the corner.