Houston native Tilman Fertitta has agreed to purchase the Houston Rockets for a record $US2.2 billion, according to Adrian Wojnarowski of ESPN.
The purchase price would eclipse the record $US2.0 billion paid by Steve Ballmer for the Los Angeles Clippers in 2014.
Current owner Leslie Alexander purchased the club prior to the 1993-94 season for $US85 million. During Forbes’ most recent NBA franchise valuations, the Rockets’ were valued at $US1.65 billion.
Fertitta is the CEO of Landry’s and has a net worth of $US3.1 billion, according to Forbes, making him the world’s richest restaurateur.
This is a developing story.
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