Rockets owner Leslie Alexander announced today, Monday July 17th, that the Houston Rockets would be put up for sale. This is seen as a shocking move to many, since superstar James Harden and General Manager Daryl Morey both resigned this summer.
Photo by: ClutchFans
CEO Tad Brown made the official announcement today, with Leslie having made the final decision over the weekend according to Jonathan Feigen of The Houston Chronicle. With the team still in trade talks to lure away superstar Carmelo Anthony from the Knicks, as well as trying to land the rest of the banana boat team, this doesn’t seem too great of a time to happen.
Recently Forbes estimated that the Rockets are the 8th most valuable franchise in the NBA, which currently estimated to be at 1.6Billion dollars. Alexander has said he plans on finding a buyer who wants to keep the Houston Rockets in Houston, Texas.
As for the next owner, there are a few questions that get raised. Will the new owner be willing to pay the luxury tax that the Rockets had just recently passed? Surely after buying a franchise, they wouldn’t want to pay any more expensive fees after acquiring it. Another question is whether the front office will stay the same, or be changed with new ownership and executives. Houston has had success the past few years with superstar James Harden and General Manager Daryl Morey forming the perfect relationship. James Harden could grow frustrated with the team if Morey was to be let go.
Many are wondering who the next owner will be of the Houston Rockets. This sale of the team will take a long time to finalize, and will have to be approved by the whole league. Alexander still has about another year left owning the team if a buyer comes with a serious offer in the next upcoming months. The last time the Houston Rockets were up for sale was in 1993 where Alexander bought them for $83 million. He then went on to win back to back titles within his first 2 years as an owner.
Les won his first two titles when he bought the team, it would surely be amazing if he won a title right when he sells the team.
Written by: Devon Bennett