Current CBA is prohibited to sign free agents from other team first. (teams have to sign their own free agents first. Rockets are not going to renounce the rights for own free agents b/c ......) Chance to get LeBron updated: Cavs: 60% Lakers 25% Rockets 5% (zero cap space) Other team 10%
if he was in financial trouble how in the world he gets to buy the rockets and pass the Board of Owners, Jesus, it was the same with Les
Rockets are likely to get worse next season because Morey will not be able to sign own 5 free agents, likely to let Capela and LMM walk for nothing. current: 80 million plus Paul, Ariza and Green: 45 million Subtotal: $125 million plus Vet Min reserves: 7 million Total: 132 million. (luxury (tax starts at 121 million)
Tilman Fertitta’s new $400M hotel faces payment disputes Houston billionaire and Rockets owner Tilman Fertitta’s new $400 million mixed-use tower in the Uptown area has had dozens of liens filed against it by unpaid contractors. In total, the outstanding liens as of July 2 add up to more than $30.5 million, according to documents obtained by the Houston Business Journal that were filed with the Harris County Clerk’s office. The tower, dubbed The Post Oak, includes high-end hotel, office, residential and retail space. It broke ground at 1600 West Loop South in 2015 and opened in March. Originally expected to cost around $350 million, that figure is now at $400 million, according to Jeff Cantwell, chief development officer and executive vice president for Landry’s Inc., which is owned by Fertitta. The largest outstanding lien as of July 2 was filed by Houston-based Tellepsen Builders Inc., which was the general contractor for the core and shell of the project. Tellepsen’s lien, which was first filed in January and amended in June, claims the company is owed $19.89 million. Fertitta's company says the primary builder didn't do its job. Jeff Cantwell, Executive Vice President of Development for Landry’s, Inc., issued the following statement: “We are a high-profile company and a leader in the Houston community. We would never engage in an unnecessary dispute with anyone unless there was a bonified reason. Tellepsen was unable to perform under their contract forcing us to significantly reduce their scope of work and bring in other contractors to complete the work that Tellepsen was unable to perform. Unfortunately, there are some subcontractors caught in between our Tellepsen dispute and we are doing our best to get the subcontractors paid as quickly as possible. This was a $400 million dollar project and Tellepsen has been slow to respond and provide us with appropriate documentation critical to our ability to approve pay applications. This is an unfortunate situation and we will take Tellepsen to arbitration to prove our case.” Fertitta is the owner of the Houston Rockets and CEO of Fertitta Entertainment and Landry’s Inc. Forbes estimates he’s worth $4.3 billion.
Just Tilman being Tilman... his reputation as an unscrupulous businessman is very well deserved and he has made a career out of bullying contractors, vendors, suppliers etc.
I'm genuinely worried about this. Seems like he doesn't want to use the MLE cause he's cheap. If you buy a big market team, don't expect to upkeep it like the Kings, Tilman. We're the Rockets. Pay for us.
I had a conference in that new hotel last month. It's another level fancy. They have Rolls Royce's and Bentley's inside the hotel for sale and a clothing store with $200 polo shirts. I was only able to afford one shirt and one Bentley.
I've been eating at Landry's everyday for the past 6 months. I don't think it's helping.. I think I have ulcers from the oysters..
He’s very rich. The new info on his hotel is an old trick developers use and one he is known for. Hire a contractor, fire them midway through for “not adequately performing”, hire someone else to finish job for much less. Then... they settle all the liens for less than they owe. It’s nothing new.
Tilman's financial trouble is dragging the Rockets down. How long before he sells Harden to get out of financial trouble?
