In July, Lesli Alexander announced that he would be selling the NBA team, Houston Rockets. A month later, it was announced that the team was sold to Tilman Fertitta. However, the deal has only been agreed on in principle, and both parties are waiting for approval from the NBA’s Board of Governors’. Alexander agreed to sell the team for $2.2 billion, and Houston Rockets were valued at $1.65 billion.
Once the purchase is complete, this will be NBA’s highest purchase overcoming Steve Balmer’s LA Clippers at $2 billion in 2014.
Other Interested Individuals
The Golden Nugget Casino owner was not the only person who showed interest in buying the team. Entrepreneurs, former NBA players, and celebrities such as Beyoncé had shown interest. Ultimately, the decision was made to sell it to Fertitta.
Fertitta was also going up against the likes of Dan Friedkin, who is a Houston billionaire, and former Rockets players. Dikembe Mutombo, Elvin Hayes, Hakeem Olajuwon and the Naismith Memorial Basket Hall of fame showed interest in purchasing the team.
About Houston Rockets’ New Owner
Tilman Fertitta is a Houston Texas born businessman. He owns and is also the CEO of Landry’s, Inc. which is regarded as the biggest restaurant in America. The Golden Nugget Casino also forms part of the business brands he owns. As a result, players will not be able to wager on Houston Rockets at the sports betting offers from the casino.
Fertitta initially showed interest in purchasing the Houston Rockets back in 1993 for $81 million. However, Lesli Alexander bought the team at $85 million, 4 million more than what Fertitta was proposing.
Fertitta has finally made his dream come true to own his hometown NBA basketball team. According to him, Alexander is one of the best sports team owners, and he values the fact that he sees him fit to own the team.