The Houston Rockets owner Leslie Alexander is selling the basketball team after 24 years of ownership.
Alexander bought the team in 1993 for $85 million, while the team is now valued at $1.65 billion with revenues of $244 million.
He says, “I’ve made this decision after much deliberation with my family and friends, and do so knowing the franchise is in great shape with the players, coaches and management team in place. CEO Tad Brown will oversee the sales process with the league office, supported by my management team.”
No time is currently set for the sale but Houston native and billionaire Tilman Fertitta has expressed interest in buying the Rockets.
Interest in the Rockets is not limited to the U.S. as Houston is the No. 1 team in Asia because of former All-Star Yao Ming’s popularity.
Hopefully who ever buys the team will keep them in H-Town!