Houston Rockets owner Alexander is selling team

Houston Rockets owner Leslie Alexander is selling the team.

Rockets CEO Tad Brown made the announcement Monday, hours after Alexander made the decision.

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

Alexander took over as owner on July 30, 1993, and the Rockets went on to win back-to-back titles in 1994-95. In 24 seasons under Alexander, the Rockets have won 56.9 per cent of their games, fifth-highest in the league.

Brown said the 74-year-old Alexander had been approached over the years by potential buyers, but never considered it until very recently.

“I think it’s been something he’s been thinking about a little bit,” Brown said. “It can wear on you after so many decades and he’s tired. There are passions in his life now that are becoming more and more clear. His family, certainly, and his philanthropic efforts, what he’ll be able to do with his additional time and his resources on a global scale is something that he’s very much looking forward to.”

Brown will be working with the league office while they look for a new owner. There is no set timetable for the sale, but Brown said they want to find the right buyer and won’t rush the process.

Included in the sale will be Clutch City Sports and Entertainment, which puts on non-basketball shows and concerts at the Toyota Center.

“It’s a nice opportunity to have that rolled into one asset,” Brown said.

Just Posted

WATCH: Red Deer rings in the Chinese New Year

A couple hundred fill Festival Holiday to ring in the Year of the Dog

WATCH: From humble beginnings Red Deer-based wrestling promotion is growing

It wasn’t that long ago that Dylon Featherstone and the Canadian Wrestling… Continue reading

Popular Red Deer store to apply for cannabis dealer licence

At least one Red Deer store hopes to sell cannabis out of… Continue reading

Effect of electronics on students to be discussed at Central Alberta Teachers’ Convention

Thousands of area instructors will gather on Feb. 22 and 23 at RDC

WATCH: Polar dippers brave icy water to raise money for Sylvan Lake charities

The water may have been cold, but the amount of money raised… Continue reading

How to keep local news visible in your Facebook feed

Facebook has changed the news feed to emphasize personal connections. You might see less news.

WATCH: Polar dippers brave icy water to raise money for Sylvan Lake charities

The water may have been cold, but the amount of money raised… Continue reading

WATCH: Cat yoga — the purr-fect de-stresser, says Red Deer-area cafe owner

Felines and humans stretch together each month at Alley Cat Cafe

Effect of electronics on students to be discussed at Central Alberta Teachers’ Convention

Thousands of area instructors will gather on Feb. 22 and 23 at RDC

Judge critical of sentencing laws

Court of Queen’s Bench justice argues sentencing options for first-degree murder too limited

Liberals write off $200 million in student loans feds will never collect

The federal government is writing off more than $200 million in outstanding… Continue reading

Trudeau takes wing on trade mission to India, where Sikh politics loom

OTTAWA — Prime Minister Justin Trudeau is on his way to India,… Continue reading

Most Read


Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month