UPDATE: Tilman Fertitta To Be Sole Owner Of Houston Rockets

UPDATE (9:10 a.m.) – The Houston Rockets officially announced that Tilman Fertitta will be the new owner of the team as a definitive agreement has been signed for him to purchase the team. Fertitta will be the sole owner of the franchise according to the announcement. Fertitta still needs to be approved by the NBA owners before the move is official.

“I am truly honored to have been chosen as the next owner of the Houston Rockets. This is a life-long dream come true,” said Fertitta. “Leslie Alexander has been one of the best owners in all of sports, and I thank him immensely for this opportunity. He has the heart of a champion. Lastly, out of respect for the NBA’s approval process, I can say no more other than I am overwhelmed with emotion to have this opportunity in my beloved city of Houston.”

“I am excited to welcome and pass the torch to Tilman. He is a Houstonian, business leader and committed to the success and excellence of the Rockets both on and off the basketball court,” said Leslie Alexander, the current Rockets owner. “I have personally known Tilman for over 24 years and don’t think I could have found anyone more capable of continuing the winning tradition of our Houston Rockets.”

ORIGINAL POST: (8:40 a.m.)

HOUSTON (SPORTSRADIO 610) – The Houston Rockets Les Alexander is set to sell the Houston Rockets to restaurant mogul and billionaire Tilman Fertitta according to o a report from Mark Berman.

Fertitta, the owner of the Landry’s chain of restaurants and the Golden Nugget, may be announced as the new owner of the team as early as Tuesday.

The Galveston, Texas native is reportedly worth $2.8 Billion and is a member of the Board of Regents at the University of Houston. His contributions to the athletic programs at the University has paved the way for the newly refurbished basketball arena bearing his name as well.

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