Rockets Owner Les Alexander has "agreed to sell the team" to Houston billionaire Tilman Fertitta for $2.2B, a "record-NBA franchise sales price," according to sources cited by Adrian Wojnarowski of ESPN.com. The Rockets sale would "eclipse the record" of Steve Ballmer's $2B purchase of the Clippers in '14. An original investor in the Texans, Fertitta offered $81M to "buy the Rockets" in '93, but the team "was sold to Alexander" for $85M (ESPN.com, 9/5). KRIV-Fox' Mark Berman notes when team President & CEO Tad Brown "announced the Rockets were for sale, Fertitta quickly said he had an interest in buying." However, he "has said nothing concerning his efforts since." The NBA BOG will have to "approve Fertitta as the next owner of the Rockets franchise" (FOX26HOUSTON.com, 9/5). In Houston, Jonathan Feigin notes Feritta also is 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" (HOUSTONCHRONICLE.com, 9/5). CNBC’s Mike Santoli said, “Every time you think somebody’s overpaid for one of these franchises, as many people thought Ballmer did a couple of years ago, somebody comes in and tops it” (“Squawk on the Street,” CNBC, 9/5). ESPN’s Stephen A. Smith said, “I love the fact that Mr. Alexander is making such a profit. I love that the new owners have somebody like James Harden to build the team around who clearly wants to stay for the duration of his career. Everybody wins” (“First Take,” ESPN, 9/5).
TWITTER REAX: ESPN's Darren Rovell: "Biggest deals in sports over past 14 months were Fertittas. Lorenzo & Frank sell UFC for $4B. Cousin Tilman buying Rockets for $2.2B." Houston Press' Brandon Caldwell wrote Tilman Fertitta "lost out on the rockets in '94 by $4 million," then "had to pay $2.2 billion to get them this time." EMJ Capital's Eric Jackson: "Steve Ballmer spent 6% of his net worth on the Clippers. Tilman Fertitta is spending 71% of his net worth on the Rockets."
