Announcement from the Rockets

Houston Rockets team is for sale

Today, Houston Rockets Chief Executive Officer Tad Brown announced owner Leslie Alexander’s intentions to sell the franchise. Alexander has placed Brown in charge of coordinating the sales process in conjunction with the NBA league office.

“It’s been my great joy and honor to own the Houston Rockets for the past 24 years,” said Alexander. “I’ve had the incredible opportunity to witness true greatness through the players and coaches who have won championships for the city, been named to All-Star and All-NBA teams, enshrined in the Basketball Hall of Fame, and done so much for our franchise and our fans. And the Houston community has been home to me; I will continue to support the charities I have made commitments to throughout the years. 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. 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. CEO Tad Brown will oversee the sales process with the league office, supported by my management team.”

Alexander assumed ownership of the Rockets on July 30, 1993 and the team went onto win back-to-back championships in 1993-94 and 1994-95. Over his 24 seasons as owner, the Rockets posted the fifth-highest winning percentage (.569) in the NBA. The Rockets also registered the second-most winning seasons of any team in the league over that span.

In 1995, Alexander established the Clutch City Foundation with the goal of providing help, hope and inspiration to those who might otherwise be forgotten. The Clutch City Foundation funds and operates comprehensive programs benefiting thousands of children each year, as well as serving as the umbrella organization for all Rockets community initiatives.

Throughout his years as owner, Alexander and the Clutch City Foundation contributed more than $35 million to hundreds of charities throughout Houston. Most recently in March of 2017, Alexander pledged $4 million to a group of 20 local charitable organizations. In April of 2016, he donated $500,000 to Mayor Sylvester Turner’s Greater Houston Storm Relief Fund after the city was ravaged by severe rain resulting in flooding.