Speaking for the first time since the official announcement, he said things feel different now.
"Walking in this arena, it just feels different," Fertitta said.
He officially closed on the purchase of the Rockets and Clutch City Sports and Entertainment on Friday.
"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."
Fertitta purchased the team for the record price of $2.2 billion after Leslie Alexander agreed to sell the team.
"Everything is a relationship, in business and everything. This is a great relationship that I hope the city of Houston is as happy as I am. They're my partner and I'm their partner," Fertitta added.
At Fan Fest, Fertitta said he wanted to show the city of Houston and Rockets fans that he loved being part of "this."
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.
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