Report: Rockets sold for NBA record $2.2 billion

[pwaldo]

http://www.channel3000.com/sports/re...lion/616675697

Restaurant mogul Tilman Fertitta reached agreement to purchase the Houston Rockets from Leslie Alexander for $2.2 billion, an NBA record, with a formal announcement expected this week.

The 73-year-old Alexander bought the franchise for $85 million in 1993. Forbes valued the franchise in February at $1.65 billion -- eighth-most valuable in the league -- with revenue of $244 million.

[doniceage]

Wow. Quite a nice return on his initial investment.

Don

[pwaldo]

I would have to think the drafting of Yao Ming and the explosion of popularity of the NBA in China and because of the Rockets having Ming the popularity of the Houston Rockets going through the roof had to play a large factor in the record price. Without Ming I can't really see another reason why the Rockets would be worth that much.

[imi26dude]

Whoa i missed this news, thanks!

[bakemeister52]

Wow that is amazing and yes he made a nice investment and profit! Now to see if they can get more championships! They are one of the better franchises!

[doniceage]

I would have to think the drafting of Yao Ming and the explosion of popularity of the NBA in China and because of the Rockets having Ming the popularity of the Houston Rockets going through the roof had to play a large factor in the record price. Without Ming I can't really see another reason why the Rockets would be worth that much.

Remember they won 2 championships I believe in 94 95. With guy like Drexeler, olujawon, Horry, they built a successful franchise for being very competitive.