With the Rockets being for sale, Houston native Beyonce is apparently interested in buying a stake in the team.
Houston native Beyonce is interested in buying a stake in the Rockets, according to a report from Bloomberg.
In July, the team announced that owner Leslie Alexander, who bought the Rockets in 1993 for $85 million, was selling the team because he is “ looking at changing the fabric of his life .”
Beyonce wouldn’t be new to the ownership game as her husband, Jay Z, once had a 1% stake in the Brooklyn Nets. He sold his share to former NBA player Jason Kidd for $500,000 because he started Roc Nation, an agency representing pro athletes.
According to Forbes, Beyonce is worth $350 million and is 46th on the list of richest self-made women in America. Forbes listed Jay Z’s worth at $810 million.
The Rockets posted a 56.9% winning percentage with Alexander as owner, which ranks fifth over that period. They also had the second-most winning seasons of any team in the league over that span.
The Rockets are ranked eighth in Forbes’ most valuable NBA teams, worth $1.65 billion. They made $244 million last season. The price of the team could be near the $2 billion that Steve Ballmer paid for the Los Angeles Clippers in 2014.
“We’re going to make sure that it is the right buyer, ” Rockets CEO Tad Brown said at the announcement of the team being for sale. “Leslie has the latitude of time based on our resources and his resources and everything associated with the team right now.”
In the offseason, the Rockets traded for Los Angeles Clippers guard Chris Paul and reached an agreement on an extension with James Harden, which is the most lucrative contract in the NBA. The deal pushes Harden’s salary to $228 million through the 2022-2023 season.
