Houston Rockets owner Alexander is selling team, CEO says

Rockets for sale after being owned by Alexander for 24 years

Rockets are for sale, team CEO Tad Brown announces

Forbes valued the Rockets organization at $1.65 billion earlier this year, a considerable increase from what Alexander bought them for in 1993.

"Leslie Alexander's decision to sell the Houston Rockets didn't only surprise the rest of the National Basketball Association, it surprised those within the franchise".

Rockets executive Tad Brown said Monday afternoon that owner Leslie Alexander is selling the team he's owned since 1993-a sudden, unexpected announcement that stunned people across the league and started a process that seems likely to end in the.

"There are passions in his life", Brown said. Alexander said in a telephone interview that he wouldn't be hiring a bank to assist in the sale, as owners often do.

The Rockets' next owner will inherit a budding superteam anchored by Harden, who is under team control through the 2022-23 season. NBA Commissioner Adam Silver praised him as someone who helped expand the league's worldwide appeal. Brown, for his part, expressed surprise over Alexander's decision to sell the team, but he clarified that the move wasn't health-related. That's nearly 20 times more valuable than the $85 million Alexander spent to purchase the team in 1993.

"He has been an active and influential owner whose vision helped to grow the game globally, especially in China", Silver said in a statement. Tucker and Luc Mbah a Moute to a 55-win team. not to mention that James Harden just recently signed a record four-year extension.

"Wow. Superstar under contract long-term in a big market".

This news comes right as Carmelo Anthony to Houston trade rumors have heated up. He had continued to be closely involved in team decision-making and attended press conferences on Friday and Saturday, even watching the Toyota Center event to welcome Chris Paul to Houston from the arena floor.

"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". The great players, Hall of Fame players and coaches, championships won, All-NBA teams made.

Latest News