Billionaire Tilman Fertitta Buys Houston Rockets

Yeah. I just feel bad for him. He's homeless and struggling still. Lol

 

When you don't succeed, try again!

 

Crazy. He's been trying for so long. He was a KJ McDaniels contract away from owning us.

 

Les left at a high point with acquiring CP3 and extension for Harden.

 

White male billionaire from Texas, I think you can connect the dots.

 

Les seems determined to get the hell out & wrapped up as soon as possible. However, don't think he has control over when the NBA/BOG approves the sale.

July 17th: Annouced for sale
50 days later: SOLD!
30-45 days later: Approved?

 

He's from Sicily. Connect the dots.

Watch The Godfather.

 

he's a Bernie bro?

 

Better watch your a**, Rasaq, or you'll be sleeping with the fishes.

 

Lol. Feel like Les is struggling for 2.2 billion. It's lonely in his 50 mill NYC apartment.

 

Oddly enough, I'm watching season 2 of Narcos as I type this.

 

Lol ****. Great tactics for signing free agents.

No more Asian Lin fans coming here. Clutchfans will have a few murderers coming on .

Danilo Gallanari will be a Rocket this year. Book it.

 

I am hearing good things about Narcos..... should be on it soon.

 

There are not very many individuals that are worth $4,000,000,000 or more. Those that are worth than much obviously didn't care enough to outbid Tilman.

He has $1,000,000,000 above and beyond the Rockets, I think salaries will not be an issue.

Ehhh. He doesn't polish turds and then dump them for a quick profit. He has kept most of his investments and done quite well with them.

He showed no issue spending money at UH, and hasn't had any qualms about investing money into his businesses either.

This is a REAL reach.

Tilman has invested a lot of money in his businesses and is a big believer in spending money on the actual organization.

The reality is no one knows other than Tilman what he is going to do. At UH he had no problem spending money.

Further, getting fan excitement up in the arena and for games is needed. For as good as Les has been, that hasn't been his strong point.

Analytics and scouting are areas Tilman is MORE likely to invest in because you get a greater return for your money through the draft and free agency.

Tilman's love of the Rockets and Houston is genuine. He has been trying to buy a Houston sports franchise for 25 years. He is a semi regular at the Rockets games. He has made tremendous strides for the UH football and basketball program.

He will be outspoken and he will step before there is a dumpster fire...... but that is part of what made Les such a good owner.

The Rockets could have done FAR FAR worse.

 

Lol. I just started season 3. Enjoy!

 

The article should say something like "4 Million Costs New Owner 2.1 Billion For His Transgression"

New owner could have raised his price by 4 million in 1993, but it cost him 2.1 billion for...etc

 

http://www.chron.com/sports/rockets/article/Rockets-sale-What-comes-next-and-other-questions-12174123.php

What happens next?

Once the NBA receives the Rockets' application requesting approval for a transfer of ownership, the commissioner's office will begin background and personal information checks. That process can be completed in just a few weeks, though often takes longer. Fertitta's small ownership stake in the Rockets when Alexander first purchased the team could help, but so much has changed in the past 24 years, the NBA will likely proceed with the usual process as if Fertitta had never been reviewed previously.

The commissioner can request almost any information about a prospective owner's businesses to technically be provided by the current ownership of the team. Fertitta will also have to pay a $1 million application fee. That will cover the legal and administrative costs of the process with any balance applied to the membership fee if Fertitta is approved.

The commissioner would then submit the proposal to transfer the ownership of the team, along with all information he considers pertinent, to the Board of Governors. Fertitta will need approval by three quarters of the board to become the owner of the Rockets.

Will Fertitta's ownership of Golden Nugget Casinos be an issue?

It should not be a problem. Several NBA owners have stakes in casinos. The former Sacramento Kings owners owned similar properties in Las Vegas. The NBA has generally been accepting of gambling's place in sports since Adam Silver took over as commissioner. In addition to the annual summer league, the NBA holds its summer meetings in Las Vegas with Silver often citing the gathering as an example of the league's attitude about Las Vegas as part of the NBA, even without an NBA franchise.

What will happen with the current management of the team?

As with many issues, it is too soon to say definitively, but Alexander made sure to sign his management team - CEO Tad Brown, general manager Daryl Morey, coach Mike D'Antoni - to long-term contracts before putting the team up for sale.

On the basketball side, it seems likely that Fertitta will want to keep Morey and his staff in place. The Rockets have been considered a successful franchise on the upswing with Morey, a surprise pick when Alexander brought him in from the Boston Celtics, establishing himself as one of the league's most respected general managers. In Alexander's 24 seasons, the Rockets have the NBA's fifth-best overall record and second-most winning seasons.

Brown has run the business end of the Rockets since 2006. Rockets revenue and operating income consistently rank in the top five in the NBA. Fertitta could look to act as president and CEO, the titles he holds with Landry's or bring in someone from one of his companies. Given the record price he paid for the franchise, he could want to run it himself, but might be careful not to try to fix something that is not broken.

How involved will Fertitta be in the basketball decision-making?

Again, it's too soon for even Fertitta to know. He likely will have to establish the balance between running his business, the Rockets and the basketball decision-making as he goes.

Alexander was involved in almost all basketball decisions and was kept informed on even the small moves. He generally sought the information that went into each decision. Fertitta, however, has far more businesses to run.

Fertitta's involvement with the University of Houston athletics decision-making - from the bid to join the Big 12 to the selection Tom Herman and Major Applewhite as football coaches - would seem to indicate that he will be an involved owner. But he does not have a history of influencing or interfering with coaching decisions.

Fertitta's celebrity and personality could make him an asset in free agent recruiting. Alexander had become increasingly active in that role in recent years. It seems likely that Fertitta will be front and center when the Rockets are knocking on a door when the next free agency market opens.

Does this increase the chances of an NHL team in Houston?

Given that Fertitta just agreed to spend $2.2 billion on an NBA franchise without partners he might not be ready to fork over the money to buy an NHL team, too. There could be distressed properties in the NHL to consider.

Given that the sale of the Rockets includes the operating rights to Toyota Center, Fertitta would be in a position to make more of a go of hockey in Houston than an owner coming in with a team that would have to be a tenant.

Alexander looked into the NHL many years ago, but backed off because of the pending labor issues at the time. He never pursued a team again. The NHL is on more solid ground with several successful franchises in non-traditional hockey markets. But that would seem to be a long-term option, rather than something to consider so soon after the stunning price to be paid for the Rockets.

Will there be Landry's concessions throughout Toyota Center

Landry's has not done arena concessions and the Toyota Center has a contract with Levy Restaurants. But it seems likely that Fertitta will eventually like to see a Landry's sign on his way to his new office.​

 

Start a new thread. 1993. Was tilman struggling?

 

So do we know why Leslie wanted out this badly? There's gotta be more to this