Rockets Are Sold To New Owner For Reported Record Price For NBA Team

2,402
Hakeem Olajuwon and new Rockets owner Tilman Fertitta

The Houston Rockets are changing hands for a huge chunk of change.

The NBA team announced Tuesday on its website that Tilman Fertitta agreed to buy the franchise from Les Alexander, who is selling the team after 24 years of ownership. Fertittta, a lifelong resident of the Houston area and CEO of Landry’s, Inc. and Golden Nugget Casinos and Hotels, will be the sole owner of the team.

“I am truly honored to have been chosen as the next owner of the Houston Rockets,” Fertitta said in the Rockets statement. “This is a lifelong dream come true.”

Music superstar Beyonce reportedly was interested in purchasing a stake in the Rockets, as was former NBA great Dikembe Mutombo.

Fertitta has agreed to pay a record amount for an NBA franchise, according to ESPN’s Adrian Wojnarowski‏, The Houston Chronicle’s Jonathan Feigen and KRIV’s Mark Berman.

The NBA’s board of governors must approve Fertitta’s purchase of the Rockets.

Fertitta narrowly lost in the bidding to buy the Rockets in 1993 and he’ll have to pay up to finally secure the team, according to ESPN’s Darren Rovell.

Times certainly have changed.

Thumbnail photo via Troy Taormina/USA TODAY Sports Images

TMZ logo

© 2017 NESN