The primary owner of the Rockets is Les Alexander, who bought the team in 1993 for $85 million. The team also recently traded for nine-time All Star point guard Chris Paul.
However, the biggest surprise came Monday when team owner Lex Alexander announced that he will put up his team for sale.
Jeff Balke, a Houston Matters contributor and sports writer for the Houston Press and Houstonia Magazine, said there's no danger of the Rockets leaving Houston anytime soon. In fact, a sports investment banker told ESPN's Darren Rovell that he was "shocked" by the announcement because Alexander had never publicly expressed interest in selling.
"I do think it's a grind and he's exhausted", Brown said. Among the responses are former Rockets Hakeem Olajuwon and Clyde Drexler, Gallery Furniture owner Jim "Mattress Mack" McIngvale, and Houston native Beyonce and her husband, Jay-Z, who once owned a stake in the Brooklyn Nets.
There is no set timetable for the sale, but Brown said they want to find the right buyer and won't rush the process.
During his time as owner of the Rockets Alexander has been active in the community and through his Clutch City Foundation he has given more than $35 million to charities throughout the city. Last year, Lizhang Jiang, general manager of Shanghai Double-Edged Sports, became the first Chinese owner of an National Basketball Association team when he bought a minority stake in the Minnesota Timberwolves. The team, the players, coach D'Antoni, James, Chris, you see the core we have - it's an organization that's put together because of the culture Mr. Alexander has built. That could shoot the team's evaluation up even higher than the Forbes estimation. The great players, Hall of Fame players and coaches, championships won, All-NBA teams made. NBA Commissioner Adam Silver praised him as someone who helped expand the league's worldwide appeal. 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.