Owner who made Yao Ming a star at Houston Rockets agrees record franchise sale as NBA pays tribute
NBA commissioner Adam Silver thanks Leslie Alexander for helping to grow the game in China with deal struck for US$2.2 billion sale
Houston Rockets owner Leslie Alexander has reached an agreement to sell the basketball franchise for US$2.2 billion, an NBA record, with a formal announcement expected this week.
“Well-respected around the league, he has been an active and influential owner whose vision helped to grow the game globally, especially in China,” NBA commissioner Adam Silver said of Alexander in a statement.
The Rockets are one of the most popular teams in China, thanks largely to Hall of Famer Yao Ming spending his entire career in Houston.
“Leslie Alexander is a true competitor who always searched for the right move to make his teams better, Silver added.
“Under his ownership, he created a culture of excellence with strong management that attracted Hall of Famers, All-Stars and coaching giants and brought two NBA championships and four WNBA titles to Houston.”
The 73-year-old Alexander bought the franchise for US$85 million in 1993. Forbes valued the franchise in February at US$1.65 billion – the eighth-most valuable in the league – with revenue of US$244 million.