Team President: Houston Rockets Up For Sale

Sandy Mccarthy
July 18, 2017

Rockets CEO Tad Brown announced the news in a press conference this afternoon.

"Team CEO Tad Brown made the announcement Tuesday (AEDT) that the team is for sale, saying owner Leslie Alexander wants to "(change) the fabric of his life". Alexander bought the team for $85 million back in 1993, and Forbes recently valued the franchise at roughly $1.65 billion, so he figures to get a very nice return on investment here. "The great players, Hall of Fame players and coaches, championships won, all-NBA teams made". Brown also says 72-year-old Alexander isn't selling the team because of health issues.

"And the Houston community has been home to me; I will continue to support the charities I have made commitments to throughout the years".

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The last NBA franchise to be sold was the LA Clippers, which were taken over by the league and commissioner David Silver after former owner Donald Sterling was barred from having any association with the NBA for his role in a racist conversation that was secretly recorded by his friend, V. Stiviano. He also owned teams in the original Arena Football league named the Texas Terror and the Houston Thunderbears.

Any group looking at the Rockets is acquiring them at an ideal time.

The Rockets have already made huge moves this offseason, signing James Harden to the largest contract extension in National Basketball Association history and trading for Chris Paul. He will be joined next season by Paul, largely considered one of the league's best point guards.

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