After more than a month of searching, the Houston Rockets have found a new owner — and it’s a name all too familiar to the University and the city of Houston.
Tilman J. Fertitta, billionaire CEO of the hospitality company Landry’s inc., has reportedly reached an agreement with current Rockets’ owner Leslie Alexander to purchase the team. The franchise was recently valued at $1.65 billion by Forbes, but is expected to sell for a record $2.2 billion.
The Rockets confirmed the sale in a news release this morning which includes includes the operation of the Toyota Center and requires approval of the NBA Board of Governors.