The Houston Rockets have been sold to Texas billionaire Tilman Fertitta, the team announced Tuesday.
ESPN reported that Fertitta purchased the team for an NBA-record sales price of $2.2 billion.
The Rockets had been owned by Leslie Alexander for 23 years. He put the team up for sale following the season.
“Fertitta has an annual supply spend of $2 billion and he ranks as one of the wealthiest businessmen in the country,” the Houston Chronicle wrote.
“He oversees 500 properties and more than 50 restaurants, hotels and entertainment brands from the high-end Mastro’s and Morton’s The Steakhouse to the mainstream such as Rainforest Café, Bubba Gump Shrimp Co., Saltgrass Steak House, and five Golden Nugget Casinos.”
— Mark Berman (@MarkBermanFox26) September 5, 2017
The Rockets, coached by Mike D’Antoni, traded for All-Star point guard Chris Paul in the first major move of the NBA offseason.