Local billionaire Tilman Fertitta has purchased the Houston Rockets for a whopping $2.2 billion dollars today, although terms of the sale have not been disclosed as of yet. Former owner Leslie Alexander decided to sell the franchise and the two sides agreed on a deal, making it a record sale price for a team in NBA history. As of now, the sale is still pending approval by the NBA’s Board of Governors.
Fertitta was ecstatic and had this to say about it:
“I am truly honored to have been chosen as the next owner of the Houston Rockets. This is a life-long dream come true.”
Earlier this year, FORBES valued the Rockets were valued at a price of $1.65 billion, but the bids for the franchise were coming for higher and in the $2 billion range.
Fertitta owns Landry’s, Inc., which is one of America’s biggest restaurant corporations, as well as Golden Nugget Casinos and Hotels. This is the second time he tried to purchase the Rockets, as an original bid of $81 million in 1993 fell through to Alexander.
How will the new regime affect the Rockets moving forward? That is the question.