Houston Rockets owner Leslie Alexander has reportedly reached an agreement to sell his franchise to Houston billionaire Tilman Fertitta for $2.2 Billion, a record sale price for an NBA franchise..
Alexander has owned the team for 24 years and won two NBA championships.
Several former Rockets stars have expressed some level of interest in being part of a Rockets ownership group, including Dikembe Mutombo, Hakeem Olajuwon and Elvin Hayes, all members of the Naismith Memorial Basketball Hall of Fame.
Beyonce, a Houston native, has also expressed an interest in investing in the franchise.
Fertitta has been a limited partner with the Rockets and the Texans in the past. His estimated net worth is $3.1 billion.
It is an honor to be a part of the @NBA. I look forward to serving the city of #Houston and continuing the success of @HoustonRockets.
He called the purchase of his hometown team “a life-long dream come true.”
Fertitta owns Landry’s Inc., one of the nation’s biggest restaurant corporations, and Golden Nuggets Casinos and Hotels. The Rockets said in a statement that Fertitta has no other partners in connection with the transaction, which also includes operation of the Toyota Center in Houston.
If the sale of the franchise is approved, the Golden Nugget in Las Vegas will not be able to offer betting on Rockets games.