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jul
21

NBA: Casino mogul Tilman Fertitta interested to buy Houston Rockets

Tags: basketball, Houston Rockets, Leslie Alexander, Texas, Tilman Fertitta.
Posted on Friday, July 21, 2017 by "T".

source: https://en.wikipedia.org/wiki/Tilman_FertittaThe Houston Rockets has been put up for sale this Monday, and one of the interested buyers is billionaire Tilman Fertitta.

He said he might be buying, if the price is right. This decision of Leslie Alexander to sell the Houston Rockets has been said to have blindsided not only the NFL but everyone at the Rockets as well.

Alexander, an ex-lawyer and financier in New York, purchased the franchise in 1993 for $85 million. Today, with last year's revenues being $244 million, Forbes values the team at $1.65 billion.

Alexander said, "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."

A Houston Native
Born in Texas, Fertitta almost acquired the Rockets in 1993 but was outbid by Alexander by $4 million. It seems like this time, he doesn't want the opportunity to slip away again, "I've always had an interest in the Rockets. It's one of Houston's four major teams. It would be exciting. This is my home. I've looked at other teams, but it's hard to be involved with another team when Houston is your home. If it's an unreasonable number, I'll pull a group together, and if it's a crazy number, I won't participate."

He is a third cousin of brothers Lorenzo and Frank Fertitta, owners of Station Casinos, who were noted for building up the Ultimate Fighting Championship from an ailing fringe attraction into a highly-entertaining global sports brand.

Fertitta is owner of the Golden Nugget chain of casinos which has property locations in Atlantic City, Biloxi, Las Vegas, etc.

Fertitta owns several names of chain restaurants too, such as McCormick & Schmick's Seafood & Steaks, Bubba Gump Shrimp Company, The Rainforest Café, and Morton's: The Steakhouse via his entertainment and hospitality company Landry's, located in Houston.

Formerly a Houston Texans Shareholder
In 2008, Fertitta was an original shareholder in the Houston Texans NFL franchise but was forced to sell his shares due to the rule that NFL bans its team owners from serving as officers of publicly-traded enterprises that derive revenue from "gambling-related operations."

Fertitta said, "Les has been a great owner for 24 years. He's won the only two major championships in the history of Houston and has kept the team competitive for 24 years. It will be big shoes to follow for whoever buys the team. I definitely have an interest."

Source: http://www.espn.com/nba/story/_/id/20094512/houston-native-billionaire-tilman-fertitta-interest-buying-rockets

 


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12 comments for "NBA: Casino mogul Tilman Fertitta interested to buy Houston Rockets"

 doubletop7777/21/2017 9:34:33 AM GMT
Wow, i can only wonder what it would be like to be able to afford to buy your own basketball team!! I am struggling to buy a basketball never mind an whole franchise!! Crazy money
 Gerimantas7/21/2017 6:33:40 PM GMT
Wow so many money in this sport now a team cost $1.65 billlion this is so big that I cannot understand how it can be, it is $1650 milllions gor ine basketball team, wow this is super big money. Entertainment is very big business now and it looks like it eill be in the future
 pochui7/21/2017 7:07:46 PM GMT
well yeah i have to admit that i agree with the post above from gerimantas dude, 1650 millions do sound kinda serious money. i am happy to get my hands of $50 i get when i make a withdrawal of 5000 mobpoints and here we have dudes shelling out a spare 1000 millions...
 Nightkid7/22/2017 11:24:54 AM GMT
Well, I think that in all of the world the ones that draw the most money are athletes (especially the team or members of soccer or basketball), if only a normal person could win nose to say, not half but if a part of it That they win they would have to live quietly for a long time haha Worship
 Mober7/22/2017 5:30:43 PM GMT
Owning a team for 24 years is a very long time.
The revenue looks good there.

Getting a team like that, one with over a billion in money, is a big investment.
A bit risky, but at the end all of them are.
You never know when things, wont go your way Smile
 Gerimantas7/22/2017 6:44:53 PM GMT
Yes it is like Mober say this is a very big investment and who knows if it is successful, I personally think a lot better thing to buy with so much money is some real estate projects or some land. I do not understand this sports business very well but to me it looks risky investment
 CALICUL7/22/2017 7:21:50 PM GMT
In this days money is easy to win for millionaires. Few millionaires up to billionaires and buy sportteams. I would do the same if I were like them. Good job for this billionaires Cool
 pochui7/22/2017 7:22:52 PM GMT
yeah i tend to agree with some of the thoughts posted above, shelling out more than $1.5 billions for a sports team does look like an investment only for the pros of this type of investments, to me just buying some rental properties and hiring a property manager does look the safer option.
 pajalnick7/23/2017 12:08:32 PM GMT
Buying a command is not bad at all .... if someone buys a command, then he is interested in good results ..... accordingly he will invest money in the team and buy good players ... for fans of Houston this is good news ... then their The command will be among the best
 Tony_MON7ANA7/23/2017 4:34:18 PM GMT
24 years ago, the Houston Rockets was purchased for US$85 million by Leslie Alexander, a former attorney and financier in NYC. Since then the net value of the team has grown to a whopping US$1.65 billion. Yeah! US$1.65 billion!!!
 av19667/29/2017 6:57:20 PM GMT
Hello my friends and fellow mobsters

Wow that some serious money and it.s a real profit for the previous owner that had the team for 24 years
Nba games better teamshave a very good control between the finantial ways the spendeing and the revenue so it will take a while but it coukd be a good deal and there the ego part ,one is being millionaire other thing is being a NBA owner Worship Worship

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