Fertitta (r) and other team officials said that the Rockets have not had layoffs or pay cutsNBAE/GETTY IMAGES
There have been rumors that Rockets Owner Tilman Fertitta is facing financial hardship amid the ongoing pandemic, but he refuted those reports, and said the team "would never be sold, unless the whole world came to an end," according to Sam Amick of THE ATHLETIC. Between the headlines about the furloughs at his companies, the $2M-per-day losses or the part he played in Texas' decision to begin reopening last Friday, there "has been no shortage of discussion about his financial viability." However, Fertitta "remains confident that he'll come out of this perilous period." He said, "There's a reason that I made it through the '87 financial crisis, and 2000, and the 2007 (recession), because I've always kept so much liquidity." He added, "I'm not happy right now (with the financial impact), but I haven't taken any equity partner, I didn't have to give up warrants to borrow money. ... I don't need partners so I don't have partners. There's just no interest in having partners. I think all owners would love not to have partners, but not all teams financially can do that. I have the opportunity that me and my family can own this team 100 percent, and there's no reason to ever change that." Meanwhile, Fertitta and other team officials said that the Rockets "have not had layoffs or pay cuts." On his other ventures, Fertitta said, "I have a cash flow to last me a long, long time with no restaurants opening" (THEATHLETIC.com, 5/1).
