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Houston Rockets Rumors: Tilman Fertitta to buy the team for a record amount

By Brian K. Patterson

WESTLAKE VILLAGE, CALIFORNIA - APRIL 01: Businessman/TV personality Tilman J. Fertitta speaks onstage during the 'Billion Dollar Buyer' panel at the 2016 NBCUniversal Summer Press Day at Four Seasons Hotel Westlake Village on April 1, 2016 in Westlake Village, California. (Photo by Frederick M. Brown/Getty Images)
WESTLAKE VILLAGE, CALIFORNIA - APRIL 01: Businessman/TV personality Tilman J. Fertitta speaks onstage during the 'Billion Dollar Buyer' panel at the 2016 NBCUniversal Summer Press Day at Four Seasons Hotel Westlake Village on April 1, 2016 in Westlake Village, California. (Photo by Frederick M. Brown/Getty Images) /
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The Houston Rockets have shopped around for a buyer and they’ve finally found a buyer of our beloved of franchise in billionaire Tilman Fertitta.

This Houston Rockets news comes as not too much of a surprise as there were just a chosen few of individuals that would have the capital to buy such an intriguing, yet profitable venture.  It’s quite rare that a professional sports franchise becomes available for sale because of the popularity and for an investor like Fertitta, this was the opportunity of a lifetime.

Mark Berman of FOX26 (KRIV) broke the story in regard to this development:

ESPN’s Adrian Wojnarowski reported on the money that Fertitta will be dropping, certainly a record on most levels:

The choice of bringing 60-year-old Fertitta in to own the Houston Rockets is a sound one and it’s one that I’ve supported from the start.  I wrote about this topic last month and went into great detail as to why he’s the perfect fit.

It was a rarity that the owner of Landry’s Inc. wasn’t at a Houston Rockets game, he’d always be in attendance at his usual court side seats adjacent to the Woodforest Club at Toyota Center.

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Fertitta is also the Chairman of the University of Houston Board of Regents, leading the learning institutions most-aggressive campaign to modernize their sports facilities in school history.  To be exact, approximately $200 million — a lot of that was his own money — has been committed to upgrade those said venues.

Fertitta, a UH alumni,  led the charge of building the $120 million TDECU Stadium, replacing the aging, nearly-century old Robertson Stadium for the football program.  This also including new housing for the Spirit of Houston as well as upgraded training areas for various teams.

In addition, he’s also behind the rebuilding of Hofheinz Pavilion, which will cost $60 million and will be renamed the Fertitta Center.

Notwithstanding his philanthropic efforts throughout the region, he also has set up a Hurricane Harvey relief fund through the Landry’s name and has already funded it for $1 million.

All of these indicators certainly pointed him in the direction of being the owner because likely no other candidate was vested so much in the community as he and I fully support the choice that the team has made.

There were many candidates such as billionaire Dan Friedkin, owner of Gulf States Toyota, Hakeem Olajuwon, Dikembe Mutombo, Elvin Hayes and even Beyonce wanted to throw their name into the hat.  Now the latter mentioned would’ve had been part of an ownership group but apparently the offer wasn’t in comparison to one Fertitta put up.

Next: Why Tilman Fertitta is a perfect fit to own the Rockets

Leslie Alexander has owned the Rockets for the past 24 years and his penchant for always wanting to put a competitive product out on the floor was unmatched.  He took risks, to which I’ll always admire, to give us the best shot to win.  He will be sorely missed but I honestly feel that our two back-to-back championships as well as his never-ending charitable efforts will forever be his trademark.

Although this transaction has to be approved by the NBA Board of Governors, the inevitable is about happen as we now are in the Fertitta-era of Houston Rockets ownership.

Go Rockets!

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