Tilman Fertitta to buy Rockets for reported $2.2B
Bob Levey / Getty Images Sport / Getty

Longtime owner Les Alexander has agreed to sell the Houston Rockets to local businessman Tilman Fertitta, the team announced Tuesday.

The deal was first reported by FOX26's Mark Berman. Multiple reports peg the price at an NBA record $2.2 billion, exceeding the $2 billion paid by Steve Ballmer for the Los Angeles Clippers in 2014.

The sale includes the Toyota Center and is subject to approval by the NBA Board of Governors.

Alexander put the Rockets up for sale in July. He purchased the franchise back in 1993 for $85 million, overseeing the team to its only two NBA championships in 1994 and 1995.

"I am excited to welcome and pass the torch to Tilman," Alexander said in the team statement. "I ... don't think I could have found anyone more capable of continuing the winning tradition of our Houston Rockets."

Fertitta - with an estimated net worth of $2.8 billion - owns the Golden Nugget casino chain as well as several restaurants. He also hosts a CNBC reality show, "Billion Dollar Buyer."

Comments
Tilman Fertitta to buy Rockets for reported $2.2B
  Got something to say? Leave a comment below!
RELATED NEWS
Kevin Durant has been named the Muhammad Ali Sports Humanita...
Durant named Ali Sports Humanitarian of the Year
KJ McDaniels finishes the alley-oop in Q4 of the @NBASummerL...
McDaniels putting on a show in Las Vegas
What a rejection from KJ McDaniels! 📺: ESPN
K.J. McDaniels skies for the rejection
Magic Johnson "I was just talking about you...that you gon t...
Stephenson drops in on Magic's interview during Summer League final
SEE MORE STORIES