Les Alexander is selling the Houston Rockets

Ruben Hill
July 18, 2017

James Harden and the Rockets will soon have a new owner.

Team CEO Tad Brown made the announcement at a news conference that owner Leslie Alexander chose to sell the club in the past few days.

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

Brown told reporters in Houston that Alexander told him: "It can wear on you after so many decades".

Purchasing the team for NZ$115 million, Alexander is expected to make quite the profit, with Forbes putting a NZ$2.25 billion valuation on the franchise.

"And the Houston community has been home to me; I will continue to support the charities I have made commitments to throughout the years". That's nearly 20 times more valuable than the $85 million Alexander spent to purchase the team in 1993.

Brown said Alexander has been thinking about selling the team for awhile just made his decision on Monday. The past five years have seen a number of record-setting transactions in the National Basketball Association, topped by Steve Ballmer's $2 billion acquisition of the Los Angeles Clippers. The NBA took action after Sterling was famously recorded discussing his disdain for his then mistress relationships with African American players. 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 also traded for Chris Paul in late June as the team tries to prepare to compete against the Warriors.

Other reports by Click Lancashire

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