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Houston Rockets owner Leslie Alexander putting the team up for sale

X

XiaNaphryz

LATIN, MATRIPEDICABUS, DO YOU SPEAK IT
https://www.washingtonpost.com/news...17/surprise-the-houston-rockets-are-for-sale/

Houston Rockets chief executive Tad Brown on Monday told reporters at a news conference that owner Leslie Alexander is putting the team up for sale. The unexpected announcement, which reportedly even caught people within the organization by surprise, comes less than two weeks after the Rockets signed James Harden to the biggest contract extension in NBA history.

The Rockets' next owner will inherit a budding superteam anchored by Harden, who is under team control through the 2022-23 season. Earlier this offseason, the Rockets traded for point guard Chris Paul to compete with the Golden State Warriors for Western Conference — and NBA — supremacy.

Alexander bought the Rockets in 1993 for $85 million and watched them win back-to-back championships in his first two seasons as owner. In February, Forbes valued the Rockets at $1.65 million, which is eighth among NBA teams. Forbes reported that NBA franchise valuations have increased 3.5-fold over the last five years, in large part as a result of the NBA's $24 billion TV deal with ESPN and TNT.

...

Brown said Monday there is no timetable for selling the team and Alexander is looking for a buyer committed to keeping the Rockets in Houston.
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https://twitter.com/wojespn/status/887032543199059968

@wojespn

Leslie Alexander's decision to sell the Houston Rockets didn't only surprise the rest of the NBA, it surprised those within the franchise.

12:33 PM - 17 Jul 2017
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EDIT: I'm assuming the article meant the team was valued at 1.65 billion, considering they reference this tweet:

https://twitter.com/Jonathan_Feigen/status/887028330104594433

@Jonathan_Feigen

Forbes in February put a valuation on the Rockets at $1.65 billion. Alexander bought the team in 1993 for $85 million.

12:16 PM - 17 Jul 2017
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poppabk

poppabk

Cheeks Spread for Digital Only Future
"Alexander bought the Rockets in 1993 for $85 million and watched them win back-to-back championships in his first two seasons as owner. In February, Forbes valued the Rockets at $1.65 million, which is eighth among NBA teams."

Buy high, sell low is what I always say.
 
F

FinKL

Member
Is my math wrong? Isn't that a huge loss?

Alexander bought the Rockets in 1993 for $85 million and watched them win back-to-back championships in his first two seasons as owner. In February, Forbes valued the Rockets at $1.65 million

EDIT Ahhh now that x1000 makes sense lol, what a payday
 
R

rambis

Banned
This is certainly the best time in decades to sell an NBA team. I wouldn't be surprised to see other owners follow suit.
 
K

Kusagari

Member
Kind of smart. Considering the Chris Paul trade he might be able to sell high and get someone to bite for more than it's worth.
 
T

TangoAlphaLima

Member
Weird to think that the CP3 trade and Harden extension probably increased the value of the franchise in the short term, and now the owner is going to cash in...
 
X

XiaNaphryz

LATIN, MATRIPEDICABUS, DO YOU SPEAK IT
For reference, here are the last couple of team sales since 2010:

2015 - $850 million, Atlanta Hawks
2014 - $2 billion, Los Angeles Clippers
2014 - $550 million, Milwaukee Bucks
2013 - $535 million, Sacramento Kings
2012 - $377 million, Memphis Grizzlies
2012 - $338 million, New Orleans Pelicans
2011 - $280 million, Philadelphia 76ers
2011 - $400 million, Detroit Pistons
2010 - $450 million, Golden State Warriors
2010 - $450 million, Washington Wizards
2010 - $200 million, Brooklyn Nets
2010 - $275 million, Charlotte Hornets
 
B

Blablurn

Member
XiaNaphryz said:
For reference, here are the last couple of team sales since 2010:

2015 - $850 million, Atlanta Hawks
2014 - $2 billion, Los Angeles Clippers
2014 - $550 million, Milwaukee Bucks
2013 - $535 million, Sacramento Kings
2012 - $377 million, Memphis Grizzlies
2012 - $338 million, New Orleans Pelicans
2011 - $280 million, Philadelphia 76ers
2011 - $400 million, Detroit Pistons
2010 - $450 million, Golden State Warriors
2010 - $450 million, Washington Wizards
2010 - $200 million, Brooklyn Nets
2010 - $275 million, Charlotte Hornets
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Ballmet got played
 
D

donkey show

Member
GetLucky said:
If we all pitch in, GAF can own a NBA team!
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zpwhQMAl.jpg
 
element

element

Member
Blablurn said:
Ballmet got played
Click to expand...
Not really.since owning the team they have signed a new local TV deal to around $60m a year on top of the huge network/cable deal that is rev shared with each team. Balmer will probably turn a profit on the purchase within 5 years.
 
S

Servbot24

Banned
If everyone on GAF chips in $8650 we can do this. Mods, it's time to make GAF Gold public and up the subscription cost.
 
H

Hyperactivity

Banned
Im so fucking scared. Les as an owner has always hired the right people, mostly stayed out of the way and trusted people like Morey to get the job done, while still occasionally inputting advice but at the end of the day staying out of the way. One of the best owners in the NBA.

At least we can finally rebrand with our jerseys and everything.


Blablurn said:
Ballmet got played
Click to expand...
Nah, he actually set the market now

Atenhaus said:
Seattle's new team, everyone.
Click to expand...
Rockets have a lease/contract thing that keeps us in Houston till 2033 thank god
 
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