HOUSTON (CBSNewYork/AP) — Restaurant and casino owner Tilman Fertitta has agreed to buy the Houston Rockets from Leslie Alexander.
While terms have not been released, ESPN reported the sale price is an NBA record $2.2 billion. The purchase must be approved by the NBA Board of Governors.
The deal also includes Clutch City Sports and Entertainment, which puts on shows and concerts at the Toyota Center, the Rockets’ home arena.
Fertitta, 60, will be the team’s sole owner, calling it a “lifelong dream come true.” He is the owner of the Landry’s restaurant chain and Golden Nugget casino and hotels. He also is the star of CNBC’s “Billion Dollar Buyer.”
Alexander bought the team in 1993 and announced it was for sale in July. He says he has known Fertitta for more than two decades and couldn’t have found “anyone more capable of continuing the winning tradition of our Houston Rockets.”
The previous record sale for an NBA team was set in 2014 when Microsoft CEO Steve Ballmer bought the Los Angeles Clippers for $2 billion.
(© Copyright 2017 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)