Sports

Houston Rockets Are Up For Sale

Rockets owner Leslie Alexander will sell the franchise he took over shortly before the team won its only two NBA championships more than two decades ago.

Les Alexander bought the Houston Rockets for $85 million in 1993. Earlier this year, Forbes listed the team’s value at $1.65 billion.

The announcement comes shortly after the Rockets re-signed super star James Harden and acquired star point guard Chris Paul from the Los Angeles Clippers.

Alexander’s decision to sell came as a surprise even to Rockets CEO Tad Brown, who announced it at a press conference Monday.

“I do think it’s a grind and he’s tired,” Brown said. “But he’s healthy. He looks great, he’s fit. But it’s been a long time, 24 years.”

Brown wouldn’t specify if they are already in talks with any potential buyers but said there have always been many that are interested.

So what does the sale mean for fans and the future of the team?

Jeff Balke, a Houston Matters contributor and sports writer for the Houston Press and Houstonia Magazine, said there’s no danger of the Rockets leaving Houston anytime soon.

“Right now the Rockets have an agreement with the Harris County Houston Sports Authority that they made after an arena referendum was passed in 2000,” he said. “They signed the agreement that basically places them in the city of Houston, in the Toyota Center, for 30 years.”

He said Alexander was a fantastic owner who made good decisions for the team and will be hard to replace – but he doesn’t expect much of a disruption for fans.

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Florian Martin

Florian Martin

Business Reporter

Florian Martin is currently the News 88.7 business reporter.Florian’s stories can frequently be heard on other public radio stations throughout Texas and on NPR nationwide. Some of them have earned him awards from Texas AP Broadcasters and the Houston Press Club.Florian is a native of Germany. His studies in Leipzig...

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