Voight
#winning
Terms of the sale, which was announced Tuesday, were not disclosed. A league source told ESPN's Adrian Wojnarowski, however, that Fertitta agreed to purchase the team from Leslie Alexander for $2.2 billion, a record sale price for an NBA franchise.
The sale is pending approval by the NBA's Board of Governors. Fertitta is a native of Galveston, Texas, and has had courtside seats at Rockets games for the past several years.
The Rockets were valued at $1.65 billion -- eighth-most valuable in the NBA -- by Forbes magazine earlier this year but received multiple offers that started at $2 billion, league sources told Wojnarowski.
Fertitta owns Landry's, Inc., one of the nation's biggest restaurant corporations, and Golden Nugget Casinos and Hotels. The Rockets said in a statement that Fertitta has no other partners in connection with the transaction, which also includes operation of the Toyota Center in Houston.
He tried to buy them for $81 million back in 93, but lost out to Alexander's bid of $85 million.
Ballmer threw franchise valuations into a tailspin when he bought the Clips. There was 0 reason to pay that much, he was just a basketball junkie who wanted into the exclusive sports owners club. Now you have people paying stupid amounts for teams.
Great time to buy the team with Harden locked in & the arrival of CP3. Seems to be a quiet, behind the scenes guy which will be good news for Morey.
