Written by Jonathan Feigen at The Chron.com
Houston billionaire Tillman Fertitta has reached an agreement to purchase the Houston Rockets from Leslie Alexander.
The $2.2 billion sale price to break the NBA record sale of $2 billion from when the Clippers were sold to Steve Ballmer, according to the person familiar with the terms of the deal.
“I am truly honored to have been chosen as the next owner of the Houston Rockets,” Fertitta said in a statement. “This is a life-long dream come true.
Fertitta, 60, is a Galveston native, chairman and CEO of Landry’s Inc. and chairman of the University of Houston board of Regents. Feritta is also the owner of Golden Nugget Casinos, but casino ownership is not considered an issue with the NBA regarding ownership approval with several current owners owning stakes in casinos.
Can confirm Leslie Alexander reached agreement to sell Rockets to Tilman Fertitta. Sale price to break $2 billion record for an NBA sale.
— Jonathan Feigen (@Jonathan_Feigen) September 5, 2017
Alexander, 73, purchased the Rockets in 1993 from Charlie Thomas for $85 million. He announced his plans to sell the team in July to leave the grind of running a team and concentrate on philanthropic efforts. He donated $10 million to Sylvester Turner’s Hurricane Harvey relief fund last week.
“I am excited to welcome and pass the torch to Tilman,” Alexander said. “He is a Houstonian, business leader and committed to the success and excellence of the Rockets both on and off the basketball court.
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