It's official: Tilman Fertitta takes over as new owner of the Houston Rockets

EMBED </>More Videos

Tilman Fertitta is the official owner of the Houston Rockets. (KTRK)

Houston billionaire Tilman Fertitta has officially closed on his purchase of the Houston Rockets and Clutch City Sports and Entertainment, the team announced Friday.

Fertitta purchased the team for the record price of $2.2 billion after Leslie Alexander agreed to sell the team.

"I could not be happier. To own the Rockets in my hometown of Houston is a dream come true," he said in a release. "I promise to continue to make this city proud of the Rockets and to do what we can to bring home a championship."

MORE: Most expensive sports teams ever sold
EMBED More News Videos

Check out seven of the most expensive sports teams sold

Forbes Magazine valued the Rockets franchise this past February at $1.65 billion -- good for eighth in the NBA -- with revenues of $244 million.

The owner of Landry's, Inc., and chairman of the Board of Regents of the University of Houston, Forbes calls Fertitta the "World's Richest Restaurateur." His net worth has been reported at about $2.8 billion.

An original investor in the NFL's Houston Texans, Fertitta offered $81 million to buy the Rockets in 1993, but the team was sold to Alexander for $85 million.

Under Alexander, the Rockets have won two NBA championships.

RELATED: Party like it's 1994! Look back at Rockets' first championship

Report a typo to the ABC13 staff
Related Topics:
sportsHouston Rockets
(Copyright ©2019 KTRK-TV. All Rights Reserved.)