Leslie Alexander bought the Houston Rockets for $85 million and is selling the team for $2.2 billion

Tilman Fertitta has agreed to purchase the Houston Rockets for a record $US2.2 billion, according to Adrian Wojnarowski of ESPN, a record price for a pro sports team, a number that is even more incredible when you consider how much current owner Leslie Alexander paid for the team.

Alexander purchased the Rockets prior to the 1993-94 season for what now feels like a modest $US85 million.

Since Alexander’s purchase of the Rockets, the value of the team, according to Forbes, has marginally outpaced the value of the average NBA franchise. However, this purchase price far exceeds the current NBA average value ($US1.36 billion) and is well ahead of the $US1.6 billion valuation given to the Rockets in the most recent valuations.

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