Houston Rockets sold for US$2.2b

September 06, 2017
Golden Nugget casino owner Tilman Fertitta speaks at a meeting in Atlantic City, N.J. Fertitta has agreed to buy the Houston Rockets from Leslie Alexander.

HOUSTON (AP):

Restaurant and casino owner Tilman Fertitta agreed to buy the Houston Rockets from Leslie Alexander yesterday for an NBA-record $2.2 billion, a person with knowledge of the details said.

The price surpasses the $2 billion Steve Ballmer paid for the Los Angeles Clippers in 2014. The value was confirmed on condition of anonymity because terms were to remain private.

The deal must be approved by the NBA Board of Governors. It includes Clutch City Sports and Entertainment, which puts on shows and concerts at the Toyota Center.

"I am truly honored to have been chosen as the next owner of the Houston Rockets. This is a life-long dream come true," he said. "Leslie Alexander has been one of the best owners in all of sports, and I thank him immensely for this opportunity ... I am overwhelmed with emotion to have this opportunity in my beloved city of Houston."

Fertitta will be the team's sole owner. He is the owner of the Landry's restaurant chain and Golden Nugget casino and hotels. He was born in Galveston, Texas and has lived in Houston his entire adult life. The 60-year-old billionaire is the chairman of the board of regents of the University of Houston System and star of the reality show "Billion Dollar Buyer" on CNBC.

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