Tilman Fertitta Rumors

The NBA’s professional basketball teams have recently moved into a “isolation bubble” at Disney World’s ESPN Wide World of Sports in Reunion, Fla., where they will live, practice and play without outside visitors or fans, in an attempt to avoid the coronavirus. As part of that isolation, the NBA has partnered with six restaurants to provide delivery meals to staff and players. All six of those restaurants, which include Morton’s Steakhouse, Oceanaire and Joe’s Crab Shack, are owned by billionaire restauranteur and Rockets owner Tillman Fertitta, according to NBA reporter Jeff Zillgitt.
Storyline: Orlando Bubble
“I think it (the NBA season) is going to get off the ground,” Fertitta said. “I don’t know if it’s going to stay. But we’re going to do whatever. You’re going to follow the protocols. It’s no different from one of our businesses. If somebody’s sick, you send them home. Everybody else watch themselves. Sanitize the establishment, and you have to move on.”
Storyline: Coronavirus
“If you’re not willing to say, ‘Oh my gosh, (hypothetically) three people tested today for the Houston Rockets, and three people tested today for the LA Lakers. Those guys go home, and we’re going to play the games” — if we’re not willing to recognize that that’s going to be what happens, then we’re not going to complete the season, not in football, baseball, basketball or whatever.”
Of course, not long after that article, Fertitta did seek help from the government—he’s on video asking Donald Trump in person to consider expanding the definition of restaurants that can receive bailouts. The word is that 2020 has been particularly hard on Fertitta’s bottom line. Cash is tight. (Most of the money he used to finance the Rockets purchase came from Citibank, Deutsche Bank, Fidelity, and Putnam.)
Financial stability is the primary thing NBA team governors can offer the league. Which begs re-visiting the question at the beginning of this story: “Why did the NBA let a fourth-generation member of a mafia family buy the Rockets?” There are a lot of billionaires who would like to own NBA teams. It is curious that in 2017, well into the tenure of the strategic Adam Silver, Fertitta—with the baggage of his family name, a need for profoundly creative financing, and not even the high bid—made it to the front of the line.
So far towards this election, Trump only has four NBA donors, all members of ownership groups. The highest of those donations is $5,600 from Orlando Magic chairman Dan DeVos, a name that might sound familiar as Betsy Devos, Dan’s sister-in-law, is Trump’s Secretary of Education. Other NBA donations for Trump thus far are $2,800 Indiana Pacers vice-chairman James Morris, $200 from Houston Rockets owner Tilman Fertitta and $318.75 from Los Angeles Lakers part-owner James Buss. In total, Trump has raised $8,918.75 from NBA donors.
In a Monday appearance on flagship radio station SportsTalk 790 in Houston, Tilman Fertitta explained his reasons for optimism: We have as good a chance as anybody. You have Russ and James, who want this, and P.J., and Eric and Covington, it’s just a really good team. And then [Danuel] House and [Austin] Rivers. When you start looking at our eight-man rotation, you just go ‘Wow, this is pretty darn good.’
Despite the unprecedented layoff of four-plus months just before the playoffs, Fertitta believes there will be no asterisk on the NBA’s 2020 champion. In speaking to team broadcaster Matt Thomas, he said: There is nothing gimmicky, because the teams that are going to be in the playoffs are the teams that were going to be in the playoffs [before the hiatus]. We’re doing four out of seven [series], and there’s nothing gimmicky about it.

Daryl Morey not in the hot seat for Hong Kong tweet

The topic of the Hong Kong tweet has come up again lately. The President brought it up. It came up on your CNBC interview. What would you want people to know about your position about that issue? Tilman Fertitta: “The tweet was seven words. There was nothing wrong with the tweet. That’s why one hour later I told ESPN when I was asked ‘Are you going to get rid of Daryl Morey,’ I was like, ‘Are you crazy? Why would I get rid of Daryl for that tweet?’ I think Daryl’s one of the best general managers in the league. Plus, we truly enjoy working with each other. To this day, we plan on working with each other and I expect Daryl to be here for years to come.”
This rumor is part of a storyline: 20 more rumors
Tilman Fertitta: “I think I have one of the NBA’s great coaches in Mike D’Antoni. And I think I have one of the best basketball ops groups, Daryl and his whole team. Personally, I love Mike. But I’m going to leave it up to the general manager. I surely would like to have Mike back. If Daryl wants to have Mike back, I’m sure Mike is going to be back.”
Tilman Fertitta: “I think we’re all excited to see sports today. I think we’re really excited to see the NBA because in the NBA we really know our players. Fans know their personalities. We’re so lucky to have the team we have. When you look at James (Harden) and Russ (Westbrook) and P.J. (Tucker) and Eric (Gordon), it’s exciting. I think we have as good a chance as anybody. I think the NBA and team owners have taken our time to make sure we did this right and it’s safe for everybody. I know that everybody is excited to play. I didn’t want to play if the players didn’t want to play and everybody’s happy to play.”
Still, team owner Tilman Fertitta claims that the Rockets will not remain silent amid the country-wide protests following the unjust killing of George Floyd. Appearing on CNBC’s Power Lunch on Tuesday, Fertitta bared that protesting “makes America great”. “And remember, we got in trouble, my team, earlier in the year because we commented about something which was such a disappointment because that’s what makes America great. And I just hate that we have to see the coverage of a few negative things when it’s such a great issue to be protesting about,” the Rockets boss said.
Tilman Fertitta was among a group of restaurant executives and industry leaders at the White House for a meeting with the president and several key members of his administration. During the meeting, which featured a lively exchange between Trump and the Houston restaurateur — who the president referred to as “a friend of mine for a long time” — Fertitta said he initially received a paycheck protection loan, but returned it after he realized “I would’ve been that billionaire that took the money from the little business.”

Storyline: Morey's Hong Kong Tweet
Tilman Fertitta said the decision to play this year is up to his players. “It’s really up to the players, and if they want to play, gosh, I want to watch them play,” said Fertitta. “But if they don’t want to play because they’re worried about their safety, I’m fine with it. It’s totally up to my players.” “The distraction of sports: that’s that part of our psyche, and sports is religion. And, you know, we feel like we have a really good team this year and we’re excited to play,” Fertitta added.
Mark Berman: From the #Rockets: The Houston Rockets hosted a blood drive at Toyota Center for Gulf Coast Regional Blood Center.  Donors included Rockets employees and members of the general public who registered online. Donors were treated to a meal from Rockets owner @TilmanJFertitta…” pic.twitter.com/c2NRM1ke3p

Storyline: Coronavirus
“It’s always great to be able to give back to the community,” said Rockets CEO Tad Brown. “Work together and combine our resources.” The Rockets teamed up with Kroger to provide groceries for multiple organizations; from the Boys and Girls Club to the Chinese Community Center. Meals from Tilman Fertitta’s Salt Grass Steakhouse were provided as well.
Tilman Fertitta, controller of the Houston Rockets, is not only suffering from what league commissioner Adam Silver said is a drop to “zero revenue” in the NBA, but also from his other businesses. Fertitta is the owner of Golden Nugget Casino and restaurant empire Landry’s. With the coronavirus pandemic hammering his restaurant and hotel income, Fertitta borrowed $300 million loan to protect his businesses, according to the Houston Chronicle.
Storyline: Houston Rockets Sale?
Fertitta has history of issuing corporate bonds to raise capital, as he did to purchase the Rockets. In March, Fertitta told Bloomberg his businesses were expected to generate roughly $700 million, of which $250 million would be used to service debt. Fertitta added he has sufficient “liquidity to ride this out. I can’t go forever but I can go for a few months.” But though his latest move is described as insurance, it raised red flags for sports investors. One banker hinted Fertitta offering such a high return signals shares of the Rockets could become available should he need more liquidity to protect his businesses.
The Rockets did not make Fertitta available for an interview, but he told Bloomberg about an offer to “sell 50% of the Rockets for $1 billion and the answer was no.” Rockets CEO Tad Brown spoke to CNBC on Friday, adding Fertitta is “not looking to sell and he’s never even considered it, and that’s not something he’s going to consider in the future.”
“I don’t need partners so I don’t have partners,” he said. “There’s just no interest in having partners. I think all owners would love not to have partners, but not all teams financially can do that. I have the opportunity that me and my family can own this team 100 percent, and there’s no reason to ever change that.” When you ask NBA types about which owners could face trouble — be it executives, agents or fellow owners — it’s Fertitta’s name that comes up the most. But when it comes to the way in which various teams have reacted to the pressures of this pandemic, there are plenty of other teams to talk about at the moment too.
Fertitta also highlighted the Rockets’ payroll ($130 million; 13th in the NBA, with Portland first at $137 million), as well as the fact that they’re in the process of building a new practice facility and even bought a 767 plane for the team’s players. To that end, he repeatedly said his Rockets business was “in a silo” of its own that’s entirely separate from his restaurant and casino businesses. “The Rockets have no problem,” he said. “The Rockets are sitting on a huge revolver and a bunch of cash right now. And the Rockets are able to build up cash because nobody has to take it out to live on.”
“I have cash flow to last me a long, long time with no restaurants opening,” Fertitta said. “But yet, by this weekend, I’m going to have over 200 (restaurants) open and almost all my hotels open. Different people are in different situations, and what people don’t understand is I have more buckets than most.” This was a far more optimistic tone than Fertitta took while discussing the impact of the pandemic last month, when he told Bloomberg in an interview published on March 25 that “I can’t go forever but I can go for a few months.” The article also indicated that his net worth had fallen by approximately a third since February, down to $3.2 billion (the decline bumped him off of the Bloomberg Billionaires Index that highlights the world’s top 500 richest people). If there’s one thing Fertitta wanted to make clear in our Thursday chat, it was this: “I would just tell the truth, which is that (Fertitta) owns 100 percent of his team and doesn’t have any desire to take partners,” he said.
Led by owner Tilman Fertitta, the Houston Rockets are extending their recent initiative of providing “Taco Tuesday” lunches for city personnel who are helping mitigate the coronavirus (COVID-19) pandemic. For three straight Tuesdays, Rockets staffers have accompanied the “Taco Me Crazy” food truck to provide free lunches to essential employees. The truck operates from Fertitta’s local Cadillac Bar restaurant.
3 months ago via MSN
Rockets governor Tilman Fertitta has points to make about both savings and relationships. “If you save your money, and don’t do a lot of stupid things with it, then you’ll have the opportunity to do big things,” he says, in a recent interview on David Meltzer’s show The Playbook. Fertitta has a four-million dollar car behind a velvet rope in front of one of his Houston hotels. It has a sign that says, “Tilman Fertitta’s Bugatti Chiron.” Just in case you were wondering. Moments before the quote above about savings, he discusses his private jet, yacht, and oversized office.
The billionaire owner of the Landry’s restaurant empire told Fox News that his move to swiftly furlough almost all of his 45,000 employees was a “favor” that would help them get unemployment quicker. Tilman Fertitta, whose portfolio includes ownership of the NBA’s Houston Rockets, as well as Las Vegas’ Golden Nugget casino and nation franchise chains like Joe’s Crab Shack , told Ingraham Angle guest host Brian Kilmeade that laying off workers as soon as possible was a lesson he learned after having survived several recessions. Fertitta’s latest net worth is estimated by Forbes to be $4.8 billion, making him the 44th richest person in the world.
The billionaire owner of the Landry’s restaurant empire told Fox News that his move to swiftly furlough almost all of his 45,000 employees was a “favor” that would help them get unemployment quicker. Tilman Fertitta, whose portfolio includes ownership of the NBA’s Houston Rockets, as well as Las Vegas’ Golden Nugget casino and nation franchise chains like Joe’s Crab Shack , told Ingraham Angle guest host Brian Kilmeade that laying off workers as soon as possible was a lesson he learned after having survived several recessions. Fertitta’s latest net worth is estimated by Forbes to be $4.8 billion, making him the 44th richest person in the world.