Multiple reports confirm that restaurant and casino owner Tilman Fertitta has agreed to buy NBA team, the Houston Rockets from Leslie Alexander for a record fee of $2.2 Billion.
Terms were not publicly disclosed and must be approved by the NBA Board of Governors. If and when confirmed, that total would surpass Steve Ballmer’s $2 billion deal to purchase the Los Angeles Clippers in 2014 as the most expensive franchise sale in NBA history.
“I am truly honored to have been chosen as the next owner of the Houston Rockets,” Fertitta said in a press release. “This is a life-long dream come true. Leslie Alexander has been one of the best owners in all of sports, and I thank him immensely for this opportunity. He has the heart of a champion.”
73 years old Alexander bought the franchise for just $85 million in 1993. Forbes had valued the franchise in February 2017 at $1.65 billion, making it the eighth most-valuable in the league, with revenues of $244 million.