Houston Rockets sold for $2.2 billion

first_imgView comments “It’s been my great joy and honor to own the Houston Rockets for the past 24 years,” Alexander said in a statement.“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.”Fertitta, the head of Landry’s Inc, a company which includes restaurants, casinos and hotels in its portfolio, has dabbled in sports ownership before.He was forced to sell a stake in the Houston Texans NFL team when he completed a purchase of the Golden Nugget casinos in Las Vegas.Alexander, whose reign included NBA title triumphs in 1994 and 1995, said he planned to remain active in Houston.ADVERTISEMENT Typhoon Kammuri accelerates, gains strength en route to PH Catriona Gray spends Thanksgiving by preparing meals for people with illnesses Read Next MOST READ Sports venues to be ready in time for SEA Games PLAY LIST 00:59Sports venues to be ready in time for SEA Games00:50Trending Articles01:27Filipino athletes get grand send-off ahead of SEA Games01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Brace for potentially devastating typhoon approaching PH – NDRRMC UPLB exempted from SEA Games class suspension “The Houston community has been home to me,” Alexander said. “I will continue to support the charities I have made commitments to throughout the years. I’ll always have a special place in my heart for the fans, partners, city officials and employees who care so deeply for this team.“I’ve made this decision after much deliberation with my family and friends, and do so knowing the franchise is in great shape with the players, coaches and management team in place,” added Alexander, who last week donated $4 million towards the Hurricane Harvey relief effort. CBB WATCH: Streetboys show off slick dance moves in Vhong Navarro’s wedding LATEST STORIES Meralco seeks QF slot vs TNT Kammuri turning to super typhoon less likely but possible — Pagasa SEA Games in Calabarzon safe, secure – Solcom chief Don’t miss out on the latest news and information. This file photo taken on April 1, 2016, shows Tilman Fertitta attending the 2016 NBCUniversal Summer Press Day in California. Fertitta has bought the Houston Rockets in a record-breaking $2.2 billion deal, the highest amount ever paid for an NBA franchise, a statement said on September 5, 2017.  AFPHOUSTON, United States — The Houston Rockets have been bought by US restaurant tycoon Tilman Fertitta in a record-breaking $2.2 billion deal, the highest amount ever paid for an NBA franchise, a statement said Tuesday.Fertitta, a Houston-based billionaire, was one of several potential buyers circling the Rockets, who had been put up for sale by owner Leslie Alexander.ADVERTISEMENT LOOK: Venues for 2019 SEA Games “I am truly honored to have been chosen as the next owner of the Houston Rockets,” Fertitta said in a release from the team.“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.”FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutAlexander, 73, bought the franchise for just $85 million in 1993.Forbes had valued the franchise in February at $1.65 billion, making it the eighth most-valuable in the league, with revenues of $244 million.last_img