Houston Rockets are for sale, team president announces

Solenn Plantier
Juillet 17, 2017

During a press conference, CEO Tad Brown said Alexander felt the time was right to sell the team.

Just as his team is mounting a defense to the Golden State Warriors with the acquisition of All-Star point guard Chris Paul, Houston Rockets majority owner Leslie Alexander has said he is selling the National Basketball Association franchise.

The Rockets are one of the NBA's most popular teams in Asia, thanks largely to former All Star Yao Ming, a Chinese national who played for the team.

"It's been my great joy and honour to own the Houston Rockets for the past 24 years", Alexander said in a statement. "The great players, Hall of Fame players and coaches, championships won, all-NBA teams made".

Alexander bought the Rockets in 1993 for $85 million and watched them win back-to-back championships in his first two seasons as owner.

Brown says Alexander had been approached over the years by those looking to buy the team, but that he never considered it until very recently. "It can wear on you after so many decades and he's exhausted".

"There are passions in his life that are becoming more clear", Brown said. That's nearly 20 times more valuable than the $85 million Alexander spent to purchase the team in 1993.

Brown will be working with the league office while they look for a new owner. Brown offered a timetable of "sooner rather than later", but also said that since management is firmly in place, there is no rush to the process.

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