Houston Billionaire Buys NBA's Rockets In $2.2B Deal

By Matthew Guarnaccia (September 5, 2017, 3:51 PM EDT) -- Billionaire restaurateur and Houston native Tilman Fertitta will pay $2.2 billion to acquire the Houston Rockets, the team announced Tuesday, in a deal carrying the highest price tag ever for an NBA franchise.

DLA Piper LLP represented Fertitta in his purchase of the Rockets from current owner Leslie Alexander, who in July announced his intent to sell the team after 24 years at its helm. Under the terms of the deal, Fertitta will become the sole owner of the franchise and will receive the operating rights for the Rockets' home venue — the Toyota Center Arena.

"I am truly honored to...

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