Fansided

The Houston Rockets have sold for a record $2.2 billion

ByMatt Rutkowski|
HOUSTON, TX - JULY 14: The Houston Rockets introduce Chris Paul and chats with Calvin Murphy on July 14, 2017 at the Toyota Center in Houston, Texas. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2017 NBAE (Photo by Bill Baptist/NBAE via Getty Images)
HOUSTON, TX - JULY 14: The Houston Rockets introduce Chris Paul and chats with Calvin Murphy on July 14, 2017 at the Toyota Center in Houston, Texas. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2017 NBAE (Photo by Bill Baptist/NBAE via Getty Images)

Have you ever bought a basketball team for $2.2 billion? I haven’t, but it seems pretty great. Tilman Fertitta is the only person to know for sure.

There are a few things to know about basketball teams, at least eight by my count. For example, it’s important to recognize that it’s exactly like raising a pet squirrel. Exactly. Another is that they cost a lot of money. To this point, the Houston Rockets have sold for a record $2.2 billion per Scott Soshnick on Twitter.

See? He said it.

This is $200 million more than the $2 billion the Los Angeles Clippers cost Steve Ballmer. That’s roughly $2.2 billion more than most squirrels, even at the highest end of the squirrel spectrum.

Tilman Fertitta is the person who had that much money. He does not have it any more because he spent it on this basketball team. Forbes put Fertitta’s net worth at about $3.1 billion as of September 5th this year, so that leaves him roughly $900 million to play  around with. I think he’ll be okay.

Outgoing owner Leslie Alexander has owned the team since 1993. His tenure brought them two championships in the mid 90s, saw Hakeem Olajuwon be the highest rated player in NBA Jam Tournament Edition, and a new arena in 2000. He also has two first names, which typically works out in one’s favor.

Fertitta is taking over this legacy at an interesting point. They have the reigning MVP in James Harden and continue to not employ Dwight Howard. While the Rockets have had one of the most stable front offices in the league under Daryl Morey’s leadership, the team overhauled about half its roster in trading for Chris Paul this summer. It should work because Harden and Paul are both very good at basketball, but it maybe shouldn’t work because they both play similar basketball positions.

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Quality ownership is usually a strong indicator of a team’s long term success, and the Houston Rockets have long been successful. Fertitta has some expensive and also large shoes to fill.

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