Rockets owner Leslie Alexander has agreed to sell the team to Houston billionaire Tilman Fertitta for an NBA record sales price of $2.2 billion.
Alexander, who bought the Rockets for $85 million back in 1993, will turn an incredible profit, as the value of sports franchises continues to skyrocket.
Rockets' CEO Tad Brown announced on Monday that owner Leslie Alexander has put the team up for sale.
Alexander bought the team for $85 million back in 1993, and Forbes recently valued the franchise at roughly $1.65 billion, so he figures to get a very nice return on investment here. The Clippers sold for $2 billion back in 2014, and more recently we saw smaller market teams such as the Bucks ($550 million in 2014) and Hawks ($850 million in 2015) sell for less, but considering the Rockets (a big market franchise) just landed Chris Paul and inked both James Harden and Daryl Morey to long-term extensions, this team will likely sell closer to that $2 billion figure.
The Rockets are working to flip their $10 million in non-guaranteed contracts for players or assets, according to Adrian Wojnarowski of ESPN.com.
The Rockets made a handful of minor deals to get non-guaranteed deals to help get another trade going. They probably won't be getting much, but we'll keep an eye out.
Rockets head coach Mike D'Antonio won the 2017 Coach of the Year Award.
This was D'Antonio's second time winning the award, as he won it back in 2004 when he led the Suns to a franchise-high tying 62 wins. He was considered the heavy favorite for the award after leading the Rockets to a 55-27 record and a third place finish in the West. The Rockets set the All-Time record for most 3-pointers made in a season and D'Antoni is partly responsible for James Harden's best season of his career.
Daryl Morey has reportedly signed a four-year extension with the Rockets.
Morey had one year left on his contract, so now he's on the books for another five seasons. He's one of the better GMs in the league and has spearheaded the analytics movement in Houston, so this was a fairly easy decision for the Rockets to make.
Mike D'Antoni, Erik Spoelstra and Gregg Popovich are the finalists for Coach of the Year.
D'Antoni's system and James Harden busting out led to the Rockets rising to No. 3 in the Western Conference from not making the playoffs last year. Coach Spo continues to turn trash to treasure with a litany of players turning their careers around as his Heat team just missed the playoffs. Of course, Pop is arguably the best coach of all time.
Rockets coach Mike D'Antoni said that he will likely stick with the same starters and rotation for Game 6 vs. the Spurs on Thursday.
This means the Rockets will start Patrick Beverley, James Harden, Eric Gordon, Trevor Ariza and Clint Capela with Lou Williams and Ryan Anderson playing heavy minutes off the bench. The Rockets paid the price for only using seven players in Game 5 because fatigue was an issue, so it still wouldn't be a total surprise if D'Antoni gives Sam Dekker or Montrezl Harrell a handful of minutes -- D'Antoni said he will "think about it."
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