Houston billionaire Tilman Fertitta is in the process of purchasing the Houston Rockets for a record-setting $2.2 billion.
— Tilman Fertitta (@TilmanJFertitta) September 5, 2017
Sources: Leslie Alexander has agreed to a deal to sell team to Houston billionaire Tilman Fertitta for NBA record sales price of $2.2B.
— Adrian Wojnarowski (@wojespn) September 5, 2017
The reported $2.2 billion price tag would exceed the previous NBA record of $2 billion, which former Microsoft CEO Steve Ballmer paid for the Los Angeles Clippers in 2014.
Alexander, who outbid Fertitta to buy the Rockets in 1993, and Fertitta agreed in principle to the sale of the team Monday
The sale is pending approval by the NBA’s Board of Governors. Fertitta is a native of Galveston, Texas, and has had courtside seats at Rockets games for the last several years.
Fertitta is the sole owner of Landry’s Inc., a restaurant corporation that includes the Morton’s and McCormick and Schmick’s steakhouses as well as Rainforest Cafe and Bubba Gump Shrimp Co. franchises. The 60-year-old is the star of CNBC’s “Billion Dollar Buyer.” He also owns the Golden Nugget Hotel and Casinos, a role that led him to sell a stake in the Houston Texans due to NFL rules precluding owners from ownership stakes in gambling-related enterprises