The Houston Rockets have completely overhauled their roster this offseason ahead of the 2017-18 NBA year. But it appears the franchise is also looking at undergoing some renovation at the top, with owner Leslie Alexander announcing his intention to sell the franchise.
He stated in a release:
“It’s been my great joy and honor to own the Houston Rockets for the past 24 years. I’ve had the incredible opportunity to witness true greatness through the players and coaches who have won championships for the city, been named to All-Star and All-NBA teams, enshrined in the Basketball Hall of Fame, and done so much for our franchise and our fans.
“And the Houston community has been home to me; I will continue to support the charities I have made commitments to throughout the years. I’ll always have a special place in my heart for the fans, partners, city officials and employees who care so deeply for this team.
“I’ve made this decision after much deliberation with my family and friends, and do so knowing the franchise is in great shape with the players, coaches and management team in place. CEO Tad Brown will oversee the sales process with the league office, supported by my management team.”
Rockets CEO Tad Brown announced the news on Monday, saying that Alexander is ready to move forward with the selling of the organization.
— Mark Berman (@MarkBermanFox26) July 17, 2017
The Rockets won the NBA championship in Alexander’s first two years of ownership, after he took over in 1993. At the time, he paid just $85 million to acquire the franchise, a number that has now ballooned to an estimated $1.65 billion in worth.