Leslie Alexander put the Houston Rockets up for sale in June and it appears they finally have a buyer. Mark Berman of Fox 26 in Houston is reporting that Houston billionaire and Landry’s Inc. CEO Tilman Fertitta is going to be the one to purchase the team for an NBA record, $2.2 billion, surpassing the $2 billion price tag that Steve Ballmer paid for the Clippers in 2014.
When Alexander put the Rockets up for sale in June he made it very clear that he was going to sell the team to someone who was going to keep them in Houston and with Fertitta being born in Galveston, Texas and taking up residence in Houston there is no reason to believe that he would even think about moving the team.
Fertitta is taking over a team that is poised to make a run at an NBA title, which makes the record price tag that he is paying worth it, because the value of the team is likely only going to increase over the next few years. He mentioned when the Rockets first became available for sale that he has always had an interest in buying the team so it is not too surprising to see him make it happen, even for the steep price tag, now that the opportunity has presented itself.
This high price tag continues a trend that we are seeing of professional sports teams being purchased for record amounts whenever one becomes available for purchase and you have to wonder when this is going to reach it’s peak and start to level out or start to decrease because the value of these teams can’t continue to go up forever.
For the people of Houston this is finally some good news for them to hear after all that they have been dealing with. Even though sports obviously is not important when you’re dealing with the damage they have dealt with, to know that their basketball team is in good hands and is not going to be leaving the city anytime soon is at least some good news for the time being.