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July 19, 2017

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Home » Sports » Basketball

Owner puts Rockets up for sale

Source: Agencies | 00:01 UTC+8 July 19, 2017 | Print Edition

THE Houston Rockets are up for sale, the National Basketball Association team said on Monday.

Billionaire businessman and financier Leslie Alexander bought the club before the start of the 1993-94 season for a reported US$85 million and it was recently valued at US$1.65 billion by Forbes.

“It’s been my great joy and honor to own the Houston Rockets for the past 24 years,” Alexander said in a statement released by the team.

“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.”

The Rockets, who won back-to-back titles in 1994 and 1995, finished last season with the third best record in the Western Conference but underlined their championship ambitions by signing James Harden to a contract extension earlier this month that will pay him US$228 million over the next six seasons.

Rockets CEO Tad Brown said the weight of ownership had taken a toll on Alexander who wants to focus more of his time and energies on philanthropic efforts and family.

With Yao Ming as the team’s centerpiece, the Rockets helped popularize the game globally, and particularly in China which is now the NBA’s biggest market outside of the United States.

“Leslie Alexander is a true competitor who always searched for the right move to make his teams better,” said NBA commissioner Adam Silver in a statement.

“Under his ownership, he created a culture of excellence with strong management that attracted Hall of Famers, All Stars and coaching giants and brought two NBA championships and four WNBA titles to Houston.”

Meanwhile, American forward Paul Pierce signed a one-day contract with the Boston Celtics on Monday in a move that allows him to retire as a member of the NBA franchise.

The 39-year-old Pierce spent the first 15 years of his career with Boston, helping the club to a league championship in 2008. “It’s an honor to have this opportunity to once again call myself a Boston Celtic,” said Pierce, a 10-time All Star. “The organization and city took me in and made me one of their own, and I couldn’t imagine ending my career any other way. I’m a Celtic for life.”

Team owner Wyc Grousbeck said they also plan to retire Pierce’s No. 34 so that no other player will be able to wear it.

Pierce averaged 19.7 points and 3.5 assists while playing in 1,343 career games with the Celtics, Brooklyn Nets, Washington Wizards and Los Angeles Clippers.

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