Published: Tue, July 18, 2017
Sport | By Wendy Sparks

FOR SALE: Rockets owner Les Alexander looking for buyer

FOR SALE: Rockets owner Les Alexander looking for buyer

"It's been a great joy in his life and pleasure to be the owner of the Houston Rockets". The value of the franchise has grown steadily since the Hakeem Olajuwon era, thanks in large part to Yao Ming's global appeal.

Just as his team is mounting a defense to the Golden State Warriors with the acquisition of All-Star point guard Chris Paul, Houston Rockets majority owner Leslie Alexander has said he is selling the National Basketball Association franchise.

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"It's something he's been thinking about a little bit", Brown said.

Brown says Alexander had been approached over the years by those looking to buy the team, but that he never considered it until very recently.

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According to Mark Berman of Fox 26, the Rockets' front office will take their time in finding a new team owner, saying they want to find the right buyer. "And the Houston community has been home to me".

Alexander was also the original owner of the now defunct Houston Comets of the WNBA, a franchise that won four consecutive titles. And now they're for sale. Throughout his tenure as owner, Alexander and the Clutch City Foundation contributed more than $35 million to hundreds of charities throughout Houston.

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"He has been an active and influential owner whose vision helped to grow the game globally, especially in China", Silver said in a statement. "Moreover, his philanthropy speaks just as powerfully as his ownership, with local libraries, women's centers and homeless shelters all benefitting from his generosity". The Clippers sold for $2 billion back in 2014, and more recently we saw smaller market teams such as the Bucks ($550 million in 2014) and Hawks ($850 million in 2015) sell for less, but considering the Rockets (a big market franchise) just landed Chris Paul and inked both James Harden and Daryl Morey to long-term extensions, this team will likely sell closer to that $2 billion figure. In recent weeks, the Rockets have been at the center of trade rumors surrounding New York Knicks star Carmelo Anthony. He had continued to be closely involved in team decision-making and attended press conferences on Friday and Saturday, even watching the Toyota Center event to welcome Chris Paul to Houston from the arena floor. The great players, Hall of Fame players and coaches, championships won, All-NBA teams made.

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