Houston Rockets owner Leslie Alexander shocked the NBA recently when he announced that the team he has owned since 1993 was up for sale.
Earlier this year the Rockets were valued at $1.65 billion by Forbes Magazine, which was the eighth highest of the 30 NBA teams, but it was reported in recent weeks that Alexander had multiple $2 billion offers.
Tuesday morning he accepted one of those offers, selling the team to Galveston, Texas native and Houston resident Tilman Fertitta for $2.2 billion, which is the most an NBA franchise has ever been sold for.
The Rockets released a statement on the sale, and Fertitta commented on what it means to him to buy the team he grew up rooting for:
“I am truly honored to have been chosen as the next owner of the Houston Rockets.