Rockets are for sale, team CEO Tad Brown announces


Alexander bought the Rockets in 1993 for $85 million.

"With the Rockets' history, having had Yao Ming and the team's high profile in Asia - James Harden, Chris Paul and the high profile they have on the current roster, all the other attributes of the franchise - they're gonna be very attractive", said Postolos, now a sports consultant.

Forbes now values the team at $1.65 billion, which is the eighth-highest in the National Basketball Association, and team CEO Tad Brown announced this afternoon that Alexander was putting the team up for sale.

Just weeks after awarding James Harden the NBA's biggest-ever contract and signing star guard Chris Paul, Houston Rockets owner Les Alexander, second from left, announced he plans to sell the team.

"He's one of the longest-tenured owners, one of the most successful and certainly one of the most influential", Brown said. Under his ownership, Silver said Alexander created a culture of excellence with strong management. The franchise was valued at $1.65 billion by Forbes but could potentially fetch more than $2 billion.

Leslie Alexander has done an excellent job of leading the Houston Rockets over the past 24 years, with two championships under his belt. Brown, for his part, expressed surprise over Alexander's decision to sell the team, but he clarified that the move wasn't health-related. "I will continue to support the charities I have made commitments to throughout the years".

"I've made this decision after much deliberation with my family and friends, and do so knowing the franchise is in great shape with the players, coaches and management team in place", Alexander said. I'll always have a special place in my heart for the fans, partners, city officials and employees who care so deeply for this team. NBA Commissioner Adam Silver praised him as someone who helped expand the league's global appeal.

This news comes right as Carmelo Anthony to Houston trade rumors have heated up.

Brown says he will be working with the league office to facilitate things while they look for a new owner.