Houston Rockets owner sells team to restaurant mogul for $2.2B after two months of ‘For Sale’ announcement

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After many offered their bids to buy the NBA team Houston Rockets, team owner Leslie Alexander has chosen and reached an agreement with restaurant mogul Tilman Fertitta. The latter’s purchase of the team worth $2.2 billion, is an NBA record; now only waiting formal papers and an announcement which is expected this week.

About two months ago, Houston Rockets announced that the team is for sale. Forbes estimated that the Rockets is the NBA’s eighth-most valuable franchise and calculated they are worth $1.65 billion, so that could means the $2.2 sale by Alexander to the restaurant super-businessman is a good sell for him.

Fertitta is a local restaurant mogul and one of many celebrity-status investors.

73-year-old Alexander bought the franchise for $85 million in 1993, and now, after 24 years, it’s time to let go.

In a story featured by Sports Xchange, Alexander said in a statement: “It’s been my great joy and honor to own the Houston Rockets for the past 24 years.”

“I’ve had the incredible opportunity to witness true greatness through the players and coaches who have won championships for the city, been named to All-Star and All-NBA teams, enshrined in the Basketball Hall of Fame, and done so much for our franchise and our fans,” he added.

Alexander further said that the Houston community has been home for him, and said he will continue to support the charities he had made commitments to throughout the years.

Under his ownership, he created an excellent and strong management that attracted coaching giants, Hall of Famers, All-Stars.

Under Alexander’s management, he brought two NBA championships and four WNBA titles to Houston.