The Houston Rockets was sold for a massive US$2.2 billion, the highest price ever paid for a team in the NBA. The team and the buyer, Tilman Fertitta, has announced the sale yesterday (September 5 Tuesday), however did not yet reveal the exact price at that time.
The previous record for an NBA team was back in 2014, when Steve Ballmer bought the Los Angeles Clippers for US$2 billion.
Tilman Fert[...] Read more » Houston Rockets sold to casino mogul Tilman Fertitta for record $2.2 billion
Joined: Mar '11
Location: United Kingdom
Age: 54 (M)
Posts: 7371
The amounts of money being talked about are incredible. There is a lot of money in basketball and he must think it is a good investment. One thing for sure, if i had this amount of money, do i really need the hassle of owning a sports team, i think not
Joined: Aug '10
Location: Germany
Age: 52 (M)
Posts: 2219
The rich guys want a new thing to play and buy a sport team. And a Casino owner was the right owner dor a sports team to gamble. I unserstand the motivation for that, but it was not good for the sport in my opinion.
Joined: Jan '14
Location: Romania
Age: 44 (M)
Posts: 12986
Posted by DaCapo71: The rich guys want a new thing to play and buy a sport team. And a Casino owner was the right owner dor a sports team to gamble. I unserstand the motivation for that, but it was not good for the sport in my opinion.
You have no way to know it. Someone who pays 2 billion dollars and another two hundred million will focus much on the new business. As the article says in 1993 he lost a bidding with Leslie Alexander but now he buys the team. In this new acquisition has put a lot of money and does not want to lose. A dream come true.
Joined: May '09
Location: Croatia
Age: 38 (M)
Posts: 18906
you cant earn something from this,this is only to show how much money you have and to have something to "play with"!that is status in america!but ofcourse its a lot of money to pay for some basketball club!
lately, I'm a little shocked by the huge numbers in deals with sports players and teams .... Neimar, Mayweather now this news ...... I certainly understand that over time, prices should rise ... inflation and so on ... .. but such figures are beyond my understanding ... hmm.
Joined: May '08
Location: Lithuania
Age: 39 (M)
Posts: 10090
wow, just wow... to shell out two billions of dollars for a basketball team is quite outrageous, not sure whether this ca be called a good business decision, somehow I don't think that in 20-30 years or so someone will come and offer 20 billions... quite the opposite, maybe price will go back to original 100 millions or so...
Joined: Mar '09
Location: Greece
Age: 46 (F)
Posts: 14136
That is what you call an investment. From 85 millions in 1993, to a massive 2.2 billions today. And he must have made a profit, from having the team all these years. With no doubt it is a great retirement package
Joined: Mar '14
Location: Japan
Age: 49 (M)
Posts: 8946
US$2.2 billion deal! That's an astronomical amount of money! Tilman allegedly paid 33% premium to buy Houston Rockets. The Houston area got affected by Hurricane Harvey. Many people have lost their homes to this natural disaster. An undetermined number of people are still missing. It will take years to rebuild the city of Houston.
Joined: Jan '17
Location: Lithuania
Age: 65 (M)
Posts: 1756
This is such big amount of money that i just cannot think how do people earn so much so they can just go and buy a team for 2 billions of dollars. And why? There is more better investments like real estate, land, forests, natural resources... and now go and buy a team.
Joined: May '09
Location: Croatia
Age: 38 (M)
Posts: 18906
this will be fun for he and his famliy and like I said,this is only status in america,to have any professional team in any sport!but after this,you must invest lot of money in players,so this is not just a game!
Joined: May '08
Location: Lithuania
Age: 39 (M)
Posts: 10090
still cannot believe how much money is fluctuating in such a relatively simple game like basketball, or football for that matter... players being bought for 200 millions, teams for 2 billions... fcuk yeah- strange world we're living in.
Joined: May '08
Location: Germany
Age: 58 (M)
Posts: 6783
The printing presses have spit out enormous amounts of money during the last 10 years, that dont make their way into the real economy, but pop up at ever stranger locations. That is one of those.
Joined: May '09
Location: Croatia
Age: 38 (M)
Posts: 18906
yeah pochui,you are right!when you see that average player cost 60,70 millions,what can we expect in future!I think that price just will be bigger and bigger!when you see what is price for basketball teams,in football can only be bigger!ofcourse for european clubs!
BankrollMob Forum » News » Houston Rockets sold to casino mogul Tilman Fertitta for record $2.2 billion
