Houston Rockets Franchise Sold for a Record Dollar Value
It didn’t take long for the now ex-owner of the Houston Rockets, Leslie Alexander to sell the Houston Rockets.
On Tuesday morning, it was announced that the organization has officially been sold to local billionaire Tilman Fertitta, a purchase which the Houston-native called a “dream come true”. Although the terms of the sale were not disclosed, ESPN’s Adrian Wojnarowski has leaked that the team has been sold for a record price of $2.2-billion.
“I am truly honoured to have been chosen as the next owner of the Houston Rockets,” Fertitta said in a statement released by the Rockets as the sale is now pending approval from the NBA’s Board of Governors. “This is a life-long dream come true.”
Originally valued at $1.65-million and ranked eighth on the NBA’s most valuable team list by Forbes, Alexander made quite the splash, finding a way to move his investment.
“I am excited to welcome and pass the torch to Tilman,” Alexander said in a statement. “He is a Houstonian, business leader and committed to the success and excellence of the Rockets both on and off the basketball court. I have personally known Tilman for over 24 years and don’t think I could have found anyone more capable of continuing the winning tradition of our Houston Rockets.”
Fertitta is the owner of one of the country’s largest restaurant cooperations, Landry’s Inc., as well as Golden Nugget Casinos and Hotels.
“Leslie Alexander has been one of the best owners in all of sports, and I thank him immensely for this opportunity,” Fertitta said. “He has the heart of a champion. Lastly, out of respect for the NBA’s approval process, I can say no more other than I am overwhelmed with emotion to have this opportunity in my beloved city of Houston.”