Rockets are for sale, team CEO Tad Brown announces

Vincent De Villiers
Julho 18, 2017

Billionaire businessman and financier Leslie Alexander bought the club before the start of the 1993-94 season for a reported $85 million and it was recently valued at $1.65 billion by Forbes. The value of the franchise has grown steadily since the Hakeem Olajuwon era, thanks in large part to Yao Ming's worldwide appeal.

Rockets CEO Tad Brown said the weight of ownership had taken a toll on Alexander who wants to focus more of his time and energies on philanthropic efforts and family.

Although Alexander mentioned selling the team in the past, Brown said his final decision was a surprise.

"He's one of the longest-tenured owners, one of the most successful and certainly one of the most influential", Brown said. "And the Houston community has been home to me".

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After his announcement, National Basketball Association commissioner Adam Silver issued a statement, calling Alexander "a true competitor who always searched for the right move to make his teams better". "Moreover, his philanthropy speaks just as powerfully as his ownership, with local libraries, women's centers and homeless shelters all benefitting from his generosity".

The franchise has made several moves during the offseason that could impact the value and attractiveness of the franchise including signing MVP runner-up James Harden to an extension through the 2023 season, trading for 9-time all-star Chris Paul and extending General Manager Daryl Morey. A management team is in place with long-term contracts.

The good news is the front office, coaching staff and players should not be affected by the Rockets being put up for sale. "He came to the conclusion over the last few days". In recent weeks, the Rockets have been at the center of trade rumors surrounding New York Knicks star Carmelo Anthony. That could shoot the team's evaluation up even higher than the Forbes estimation.

"I've made this decision after much deliberation with my family and friends and do so knowing the franchise is in great shape with the players, coaches and management team in place", added Alexander.

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