The Houston Rockets announced today that Tilman J. Fertitta has officially closed on his purchase of the NBA Houston Rockets and Clutch City Sports and Entertainment. The NBA Board of Governors unanimously approved Fertitta to join the ranks of an NBA owner yesterday, setting the stage for the commencement of the Fertitta era.
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According to Fertitta, “I could not be happier. To own the Rockets in my hometown of Houston is a dream come true. I promise to continue to make this city proud of the Rockets and to do what we can to bring home a championship.”
Daryl Morey: Excited 2start new era @Houston Rockets basketball w/@TilmanJFertitta Thank U Mr.Alexander-none of this possible w/oU
Mark Berman: Houston billionaire @TilmanJFertitta officially approved today by the NBA’s owners in a vote of 30-0 as the new owner of the Houston Rockets franchise, according to NBA sources
Mark Berman: NBA sources: #Rockets CEO Tad Brown and Tilman Fertitta met with the ownership committee of the NBA’s Board of Governors in New York today. Everything went well and expectations are Fertitta will be approved as the new owner of the Rockets by the end of next week,.
Prospective Rockets owner Tilman Fertitta is scheduled to meet with the executive committee of the NBA Board of Governors next week, a person with knowledge of the process said on Friday of the next step toward gaining approval for the transfer of the Rockets ownership from Leslie Alexander.
The Nets believe they can attract a selling price of at least $2 billion, especially after Tilman Fertitta agreed to buy the Rockets for $2.2 billion, sources said. The Rockets are profitable, however, and the Nets next season are still expected to lose money. There are interested buyers, including Wall Street types, who have been doing due diligence on the team, sources said.
Hall of Fame center Dikembe Mutombo is proud he assembled a group that he said made a strong run at buying the Houston Rockets franchise. The Rockets were purchased by Houstonian Tilman Fertitta for a record $2.2 billion.
“We did raise a lot of money. I raised close to $2 billion, but we just didn’t get a call, and it happens,” Mutombo said in an interview with FOX 26 Sports. “I was very happy with myself. I’m not crying for the fact that we didn’t win. I’m more happy that I was able to pull people together who did believe in my vision to put up that much money. I might be disappointed, but I’m not crying. Things happen, and sometimes they happen for a good reason.”
He believes Leslie Alexander, who owned the franchise for 24 years, made a great choice in selling to Ferttita. “I’ve known Tilman for a long time,” Mutombo said. I”‘m happy he got the team. He’s a great businessman. I think he’s going to follow the spirit of Uncle Les and his vision. I look forward to going to the games and cheering for my Rockets.”
NBA sources told FOX 26 Sports Houston Rockets owner Leslie Alexander has reached an agreement to sell his franchise to Houston billionaire Tilman Fertitta. The sources indicate the team could possibly announce the agreement today.
Adrian Wojnarowski: Sources: Leslie Alexander has agreed to a deal to sell team to Houston billionaire Tilman Fertitta for NBA record sales price of $2.2B.
Brian Robb: FWIW, Forbes listed the Rockets with a valuation of $1.65 billion back in February 2017 (8th highest in NBA). twitter.com/wojespn/status…
At different times Fertitta has been involved with professional sports as a limited partner with the Rockets and the Texans. Forbes estimates his net worth at $3.1 billion. The NBA’s Board of Governors will have to approve Fertitta as the next owner of the Rockets franchise.
One of Fertitta’s competitors to buy the Rockets was another Houston billionaire, Dan Friedkin. The owner of Gulf States Toyota said in a statement last month he had expressed an interest in exploring the purchase of the Rockets. Several former Rockets stars have expressed some level of interest in being part of a Rockets ownership group, including Dikembe Mutombo, Hakeem Olajuwon and Elvin Hayes, all members of the Naismith Memorial Basketball Hall of Fame. Bloomberg reported last month entertainer Beyonce, who is from Houston, was considering investing in the Rockets. Alexander has owned the franchise for 24 year
“I’m putting together a group to buy the Houston Rockets, and we’re getting close,” he said. “Getting close in the next couple weeks, maybe I’ll have a chance. Lot of people, lot of people and good people with a lot of money.”
Houston billionaire Dan Friedkin, owner and CEO of Gulf States Toyota and the president and CEO of the Friedkin Group, acknowledged in a statement released to FOX 26 Sports that he is interested in buying the Houston Rockets franchise. “I’ve expressed interest in exploring the purchase of the Houston Rockets,” Friedkin said in a statement released by his company. “As a Rockets fan and Houstonian it would be exciting and a privilege to build on the storied legacy of NBA basketball in this city.” Friedkin’s Gulf States Toyota has the exclusive rights to deliver Toyota vehicles in Texas, Louisiana, Arkansas, Oklahoma and Mississippi. Forbes lists Friedkin’s net worth at $3.1 billion.
What is the latest news in your quest to buy your former Houston Rockets with an ownership group? Dikembe Mutombo: I’m working on it. I’m really close with three potential investors. I need three potential investors. I need three people. My thing will be having three good investors. I’m looking for people who can put a half a billion [dollars] … If you have three or four of them, that’s good. Or one person that can put more than everybody.
Pop superstar Beyonce, a Houston native, is mulling an investment in the National Basketball Association’s Rockets, according to people familiar with the matter. Rockets owner Les Alexander, a former bond trader, said last month he was selling the team amid a surge in franchise values across sports. The club’s popularity in China may push the sale price past the record $2 billion Steve Ballmer paid for the Los Angeles Clippers three years ago.
She is one of the most influential celebrities, and on par with soccer star Lionel Messi, according to the Marketing Arm’s Celebrity DBI database. She ranks 150th out of more than 4,000 celebrities, and is particularly effective reaching females between the ages of 13 and 17. According to Forbes, Beyonce is second to Sean “Diddy” Combs on its 2017 list of highest-paid celebrities at $105 million. Her net worth is $350 million, Forbes said. Jay-Z is worth $810 million.
Hall of Fame center Yao Ming ended any speculation that he could be a part of a group that would seek to purchase the Rockets on Friday, issuing a statement through the Xinhua news agency saying his efforts will be devoted to his new position with the China Basketball Association.
Tad Brown: I can confirm that @Daryl Morey will not be part of a group buying the @HoustonRockets, nor will I or any member of the current team. We are solely focused on finding the best buyer for Mr. Alexander, the City of Houston, and Rockets fans all over the world.
Peter Vecsey: Rockets GM Daryl Morey has put together a group (join the crowd) to buy the team Patreon.com/petervecsey
Hall of Fame center Dikembe Mutombo, who played the final five years of his career with the Houston Rockets and retired in 2009, said he is working on putting a group together that he hopes will try and buy the Rockets franchise. Owner Leslie Alexander put the Rockets on the market on Monday.
“I’m working on it,” Mutombo said in an interview with FOX 26 Sports. “I’m talking to a lot of people already since (Monday). We’ll see. “I’m just talking to the people who can cut the check and they can make me be part of it. I’m working on that.”
Mutombo said the people he is speaking with are receptive to the idea of attempting to purchase the Rockets franchise. “A lot of people think it’s a great thing,” Mutombo said. “It’s a great opportunity. “Now it’s just a question of the number,” he said laughing. “There’s going to be a lot of discussion and a lot of cash. “I missed my opportunity two years ago with the Atlanta Hawks.”
Hall of Fame center Dikembe Mutombo, who played the final five years of his career with the Houston Rockets and retired in 2009, said he is working on putting a group together that he hopes will try and buy the Rockets franchise. Owner Leslie Alexander put the Rockets on the market on Monday. “I’m working on it,” Mutombo said in an interview with FOX 26 Sports. “I’m talking to a lot of people already since (Monday). We’ll see. “I’m just talking to the people who can cut the check and they can make me be part of it. I’m working on that.”
Mark Berman: Hall of Fame center Dikembe Mutombo (@officialmutombo) trying put together group that will try & buy the #Rockets: “I’m working on it.” pic.twitter.com/QUtnn4Du3G
Houston billionaire Tilman Fertitta said Monday he has an interest in purchasing the Rockets. “I definitely have an interest,” Fertitta, the Landry’s restaurants founder and CEO and gambling mogul, said. “Just hope it doesn’t go for crazy numbers. I’ve never really wanted to own a professional team outside of Houston. Houston is my hometown and the place I would prefer to own a professional team.”
The Houston Rockets are for sale, and KHOU 11 Sports has already identified one potential buyer. Team CEO Tad Brown confirmed the news Monday and said Alexander is committed to selling the team to someone who will keep it in Houston. Local billionaire businessman Tilman Fertitta told KHOU 11 Sports’ Matt Musil, “Of course I’m interested,” and owning the team is “a great opportunity.”
Madelyn Burke: Leslie Alexander bought the #Rockets for $85 Million in 1993. Forbes valued the team in February 2017 at $1.65 Billion twitter.com/Jonathan_Feige…
Today, Houston Rockets Chief Executive Officer Tad Brown announced owner Leslie Alexander’s intentions to sell the franchise. Alexander has placed Brown in charge of coordinating the sales process in conjunction with the NBA league office.
It’s been my great joy and honor to own the Houston Rockets for the past 24 years,” said Alexander. “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.”
Leslie Alexander: 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. CEO Tad Brown will oversee the sales process with the league office, supported by my management team.”
Jenny Dial Creech: This is a crazy announcement for sure. Les Alexander is everyone’s favorite Houston sports owner right now. Tough to replace.
Micah Adams: Adjusted for inflation, Alexander bought Rockets for $144M. If it sells for $2.9B (plausible), he’ll have a 20-fold return on investment.
Adam Wexler: . @tadbbrown say the group is committed to finding a buyer that will keep the #Rockets in Houston. Rockets announced the team is for sale.
Jonathan Feigen: Tad Brown said the timetable is “sooner than later” but said no rush because management team is in place.
Jonathan Feigen: Though Alexander brought it up previously, Brown said he was very surprised with the ultimate decision. He will handle the sale.
Adam Wexler: #Rockets pres & CEO @tadbbrown on Les’s decision to sell team: “I think recently he can sense, he’s just been tired…it’s been a grind.”
Mark Berman: CEO Tad Brown says owner Leslie Alexander’s decision to sell the #Rockets franchise has nothing to do w/his health. Brown says Leslie is fine
Jenny Dial Creech: Brown said he has talked to Harden, Chris Paul, Mike D’Antoni so far.
Zach Lowe: People have been wondering which owner/group would cash out first after dramatic rise in team valuations over past 5-6 years.
Zach Lowe: Don’t remember last time franchise being for sale shocked the league. Usually rumors/reports well in advance. This came at press conference!
Jonathan Feigen: Forbes in February put a valuation on the Rockets at $1.65 billion. Alexander bought the team in 1993 for $85 million.
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May 21, 2018 | 11:30 pm EDT Update
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