Houston Rockets owner puts team up for sale

Erik Williams-USA TODAY Sports

Houston Rockets CEO Tad Brown announced on Monday at Toyota Center that owner Leslie Alexander has expressed his intent to sell the franchise along with Clutch City Sports and Entertainment after 24 years of ownership. User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. The sale of the Rockets could double his net worth in one fell swoop.

"It's been my great joy and honor to own the Houston Rockets for the past 24 years", Alexander said in a statement released by the team. But if you look at what the Rockets have been doing recently, it appears that Alexander's been tying up loose ends and securing things to bolster both the franchise's future and his windfall.

Last month, the team acquired All-Start point guard Chris Paul III as part of a seven-player trade with the Los Angeles Clippers and re-signed its star forward, James Harden, to a contract extension that will pay him a league record $228 million over six years.

Florida State picked to win ACC in preseason poll
When the ACC first conceived of a football championship game, the game was awarded to Jacksonville for a variety of reasons. The next highest finisher for conference player of the year was FSU quarterback Deondre Francois, who earned 23 votes.

This news comes right as Carmelo Anthony to Houston trade rumors have heated up. That could shoot the team's evaluation up even higher than the Forbes estimation.

Although Alexander mentioned selling the team in the past, Brown said his final decision was a surprise. Instead he said that he had other passions and was looking towards changing the "fabric of his life".

Alexander bought the Rockets in 1993 for $85 million. And there is little question that the National Basketball Association has only grown in stature and popularity in the last three years. Among NBA teams, the Rockets rank eighth out of 30, just ahead of the Dallas Mavericks at ninth with a value of $1.45 billion. He's also put his Gramercy Park penthouse condo and his Baccarat Hotel & Residences condo in NY up for sale, asking for $46.5 million and $21.5 million respectively. The usual basketball activities of the offseason should proceed without a hitch. With the way Houston's roster in shaping into form, we may have a third championship banner to hang up sooner than later.

Related News:

  • Suspected LeT Operative Arrested At Mumbai Airport

    Suspected LeT Operative Arrested At Mumbai Airport

    Police officials said that he was declared a "Wanted" criminal in 2008 and a lookout notice was issued in his name. A joint team of the UP ATS and Mumbai Police nabbed a suspected Lashkar-e-Taiba terrorist from the Mumbai Airport.
    Burr Ridge pilot killed in Kansas plane crash

    Burr Ridge pilot killed in Kansas plane crash

    The Atchison County Sheriff's Office responded to a crash reported at 10:18 a.m. near 234th and Ness Road in Atchison County. Sunday Jul. 16, 2017, in Atchison County, Kansas after departing the Amelia Earhart Airport at approximately 10:00 AM.

    Russian Federation lobbyist attended Trump son's meeting

    The White House continues to deny he colluded with Moscow to interfere with the 2016 election. On Friday, Caputo testified before a closed session of the House Intelligence Committee.
  • DryShips (DRYS) Getting Somewhat Negative News Coverage, Analysis Finds

    DryShips (DRYS) Getting Somewhat Negative News Coverage, Analysis Finds

    The share price has moved backward from its 20 days moving average -64.45% and negatively from its 50 days moving average -92.08%. Finally, FNY Partners Fund LP bought a new position in shares of DryShips during the first quarter valued at $681,000.
    Supreme Court gives Hawaii until Tuesday to answer Trump travel ban motion

    Supreme Court gives Hawaii until Tuesday to answer Trump travel ban motion

    In that ruling the justices sought to strike a middle ground balancing Mr. Trump's powers versus the rights of a select group of people in the U.S.

    Neymar wants to leave Barca, join PSG

    Neymar has been with Barcelona since 2013, winning two La Liga titles, three Copa del Rey titles and one UEFA Champions League. The 25-year-old is about to enter his fifth season at the Nou Camp - but he might not be there for much longer.
  • Amber Alert issued for 1-year-old Soledad boy

    Amber Alert issued for 1-year-old Soledad boy

    The unknown suspect was last seen driving off at 4:47 a.m. this morning in the Honda Accord with Emiliano in the back seat. Salinas has black hair, brown eyes and was last seen wearing a black and white shirt and gray trousers .
    Suspicious vehicle crashes into police cruiser near Capitol

    Suspicious vehicle crashes into police cruiser near Capitol

    Second street, which runs behind the Library of Congress and Supreme Court, was also shut down. Witness reports state the vehicle slammed into fence and also struck a police auto .
    Everton reprise interest in Theo Walcott

    Everton reprise interest in Theo Walcott

    He made 37 appearances across all competitions last season for the Gunners and scored an impressive 19 goals in return. Walcott grins. "I can't really say". "There was a reaction and that's what we wanted".
  • President Trump Holds 'Made in America' Showcase at the White House LIVESTREAM

    President Trump Holds 'Made in America' Showcase at the White House LIVESTREAM

    The White House's new theme is already taking flak from those pointing out the Trump Organization's business history . Trump will sign a proclamation designating May 17 " Made in America Day".
    Cargo ship hits Green Bay bridge, crushes small boat

    Cargo ship hits Green Bay bridge, crushes small boat

    Barker struck the CityDeck , left a 16- to 18-foot boat in pieces, and sent kayaks tumbling from the dock into the water. Feldhausen said someone from the Coast Guard cut free a gasoline can from the damaged boat just as it overturned.
    Ryan Phillippe Explains How He Broke His Leg, Shares Hospital Photos

    Ryan Phillippe Explains How He Broke His Leg, Shares Hospital Photos

    Ryan Phillippe is now in the hospital and just shared some photos from his hospital bed, showing what appears to be a leg injury. He said in an interview with Collider published in November that he insisted on doing all of his own stunts for the show.


Most liked

Sergio Romero Signs New United Contract
Romero played a pivotal role in bringing Manchester United back to the Champions League next season, by winning the Europa League. Upon signing the deal, the 30-year-old shot-stopper stated: "I am delighted to have signed a new contract".

Nemanja Matic Left Out Of Chelsea's Pre-Season Tour
The Blues will be travelling to China and Singapore, where they will face Arsenal , Bayern Munich , and Inter Milan . Signs point to his next destination being in Italy , where he may join the Serie A champions Juventus .

Girl, 15, Dies After Taking 'Legal High' In Bakers Park, Newton Abbot
A 20-year-old man has been charged with intent to supply MDMA after a "beautiful and smart" girl, 15, died in a Devon park. He said of the drugs: 'They're not legal. "And whatever the brand name or substance, it is just very risky to take them".

AO Asset Management LLC Lowers Stake in Netflix, Inc. (NASDAQ:NFLX)
FBR & Co reissued a "market perform" rating and set a $145.00 price target on shares of Netflix in a research report on Friday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Netflix in a research report on Tuesday, April 18th.

Bob Bowlsby gives update on Big 12's review into Baylor
When Stoops left, 33-year-old offensive coordinator Lincoln Riley was promoted and became the youngest FBS head coach. The Big 12 board of directors wants Bowlsby in place when media rights are discussed in six to seven years, he said.

UAE Wants International Monitoring of Qatar
Speaking at the Chatham House forum in London on Monday, the UAE foreign minister, Anwar Gargash, twice denied the veracity of the claims.

WEATHER WARNING: Scattered thunderstorms and downpours forecast for the North West
Citizens can look out for more rainy weather due to one of two weather systems heading toward the Caribbean region later this week.

1662 civilians died in Afghanistan in 6 months
Islamic State was blamed for 5 percent, while unidentified anti-government forces accounted for another 19 percent of the total. Afghan security forces, meanwhile, were commended in the report for reducing the number of civilian casualties they caused.

Gas Prices In OKC Rise 1.4 Cents In Past Week
The most expensive gas price averages in Florida are in West Palm Beach-Boca Raton ($2.24), Pensacola ($2.23), and Miami ($2.22). Areas in California and their current gas price climate: Stockton- $2.78/g, down 5.5 cents per gallon from last week's $2.84/g.

Japan to warn of greater threat from North Korea in new report
A policeman salutes at a junction featuring a portrait of North Korea founder Kim Il Sung in Pyongyang, April 11, 2012. Daily NK is run by North Korean defectors who collect prices via phone calls with fuel traders in the North.

YouTube, Milan. Lucas Biglia che gaffe: "Forza Lazio"
Grazie ai loro acquisti, ora i rossoneri di Vincenzo Montella potranno ricominciare a fare la voce grossa, in Italia ma anche in Europa.

Heroic Dog Rescues Drowning Fawn as Owner Cheers on from Shore
After about eight minutes, Freeley and a member of Strong Island Rescue were able to once again save the deer. When the experts arrived to care for the fawn, it got spooked and went back out into the surf.

'Not true, purely not true': UAE denies Qatar hacking claim
The hacks took place almost two weeks earlier on May 24, one day after senior Emirati officials allegedly discussed the plan. But his efforts, and those of European states, have so far been unsuccessful.

July 17th is World Emoji Day
With the trailer of the upcoming, "The Emoji Movie " people can't control their excitement and are hoping for an wonderful movie. Apple has used World Emoji Day to preview the range of new characters that will be added to its software later this year.

Global Flow Metering Valve Market Outlook, Growth, Demand, Strategy 2017
What's more, the Medical Electrical Stimulation Devices Market industry development trends and marketing channels are analyzed. This Flow Metering Valve market report also includes all the major market players that are involved in this the global market.