Houston Billionaire Tillman Fertitta Agrees To Purchase Houston Rockets For $2.2 Billion

HOUSTON, TX — Tillman Fertitta has reached an agreement to buy the Houston Rockets for $2.2 billion from Leslie Alexander, per Fertitta's social media and other media outlets. Fertitta is chairman and CEO of Landry's Inc. and the owner of Golden Nugget Casinos. His purchase breaks the previous NBA sale of the Los Angeles Clippers at $2 billion.

"I am truly honored to have been chosen as the next owner of the Houston Rockets," Fertitta said in a statement. "This is a life-long dream come true.

"Leslie Alexander has been one of the best owners in all of sports, and I thank him immensely for this opportunity. He has the heart of a champion. Lastly, out of respect for the NBA's approval process, I can say no more other than I am overwhelmed with emotion to have this opportunity in my beloved city of Houston."

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Fertitta, a Galveston native, is also chairman of the University of Houston board of Regents.

Alexander announced in July he would put the team up for sale. He bought the team for $85 million in 1993, prior to the 1993-94 season and back-to-back NBA titles.

"It’s been my great joy and honor to own the Houston Rockets for the past 24 years," Alexander said. "I’ve had the incredible opportunity to witness true greatness through the players and coaches who have won championships for the city, been named to All-Star and All-NBA teams, enshrined in the Basketball Hall of Fame, and done so much for our franchise and our fans."

Alexander bought the Rockets for $85 million in 1993 and subsequently won NBA titles in 1994 and 1995. In 2008 he was named best owner in the NBA by Forbes.

In 1995 Alexander started Clutch City Foundation, which supports many various local charities.

"The Houston community has been home to me," Alexander said. "I’ll always have a special place in my heart for the fans, partners, city officials and employees who care so deeply for this team."

Top image: In this Aug. 31, 2012 photo, Golden Nugget casino owner Tilman Fertitta speaks at a meeting in Atlantic City, N.J.

AP Photo/Wayne Parry