Houston Rockets Sold For $2.2 Billion To Tilman J. Fertitta

HOUSTON, TX — Houston billionaire Tilman J. Fertitta has officially closed on his purchase of the NBA Houston Rockets and Clutch City Sports and Entertainment for $2.2 billion, the Rockets announced Friday afternoon. The NBA Board of Governors unanimously approved Fertitta to become an NBA owner, fulfilling a longtime dream.

"I could not be happier," Fertitta said. "To own the Rockets in my hometown of Houston is a dream come true. I promise to continue to make this city proud of the Rockets and to do what we can to bring home a championship."

Fertitta was a former limited partner of Charlie Thomas when he owned the team in the early 1980’s. Fertitta's purchase from former Rockets owner Leslie Alexander paid a record price for the team of $2.2 billion dollars.

"Leslie has left an indelible mark on Houston sports history," Fertitta said. "Not only did he bring two championships to our city, he created a winning environment and culture. He is a tough act to follow."

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Alexander, who recently donated $10 million to the Hurricane Harvey Relief Fund, stated, "I have been friends with Tilman since 1993, so it is my great honor to announce that Tilman and his family have been able to fulfill their dream of owning the Houston Rockets. Tilman’s passion, commitment to excellence, and unrivaled love for the city of Houston are going to serve him well as a great owner of this proud franchise."

A formal introduction of Fertitta as owner of the Houston Rockets will take place at noon, Tuesday, Oct. 10.

Image: Golden Nugget casino owner Tilman Fertitta speaks at a meeting in Atlantic City, N.J. Fertitta has agreed to buy the Houston Rockets from Leslie Alexander. Terms were not released and must be approved by the NBA Board of Governors. The deal includes Clutch City Sports and Entertainment, which puts on shows and concerts at the Toyota Center. Fertitta will be the team's sole owner, calling this a "lifelong dream come true." (AP Photo/Wayne Parry, File)