Rockets for sale after being owned by Alexander for 24 years

Rockets for sale after being owned by Alexander for 24 years

Despite threats to move the franchise due to unfavorable lease terms in the team’s former home Compaq Center, he was instrumental in the building of Toyota Center in downtown Houston and is one of the crown jewel buildings in the National Basketball Association.

Alexander purchased the Rockets in 1993 for a reported $85 million. The value of the franchise has grown steadily since the Hakeem Olajuwon era, thanks in large part to Yao Ming’s global appeal.

The Houston Rockets have been put up for sale by owner Leslie Alexander. There are passions in his life now that are becoming more and more clear.

Brown said Alexander had been approached over the years by potential buyers but never considered it until very recently.

Brown said Monday there is no timetable for selling the team and Alexander is looking for a buyer committed to keeping the Rockets in Houston. He has not begun negotiations with any prospective owner or group. “I think (Alexander) had a real good conversation with his family and close, close friends”, Brown said.

The Rockets are poised to be a team’s top-three team next season, and they have a superstar (and MVP runner) locked up until 2023 after James Harden recently inked a new contract extension with the team. The great players, Hall of Fame players and coaches, championships won, All-NBA teams made.

“He feels it’s time”, Brown said.

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

“This is something that’s been weighing on him a little bit”.

Brown said he was “very surprised” with the decision.

Brown will be working with the league office while the Rockets look for a new owner and there were no plans to hire an outside firm to help. “He’s going to continue his commitments to the charities he’s supported”. 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.