Houston Rockets

How rich is Houston Rockets owner Leslie Alexander?

Houston Rockets owner Leslie Alexander has put his team up for sale, 24 years after buying it for $85 million. And if recent history is any guide, he’s going to get quite the return on his investment.

Alexander is worth $1.9 billion according to Forbes, and the team is valued at $1.65 billion. He first landed on the Forbes 400 in 2006.

PLACE YOUR BID: Rockets are for sale, team announces

“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 said in a statement.

While $1.9 billion is quite a fortune, is still puts him well below the richest sports owner, Stan Kroenke who has a networth of $7.5 billion. Kroenke owns a number of franchises, including the Denver Nuggets, LA Rams and Arsenal soccer team. 

He also trails fellow Texas sports owners  Jerry Jones, Mark Cuban and Bob McNair. 

WINNING WAYS: Rockets have been among NBA’s top winners under Leslie Alexander

You can see where Alexander compares to the richest people in Texas in the gallery above. 

Alexander is a former stock trader from New Jersey who received a law degree from Thomas Jefferson School of Law. 

He bought the Rockets in 1993, the same year the team won its first NBA championship.

COLUMN: Rockets shock us all as they hit open market

A number of other NBA teams changed hands earlier this decade, with the Grizzlies, Pelicans, Kings and Bucks all going for between $350 million and $550 million. 

However, in 2014 the Los Angeles Clippers were sold to former Microsoft CEO Steve Ballmer for a NBA record $2 billion.

The New York Knicks are currently considered the most valuable NBA franchise at $3.3 billion, according to Forbes.

Recommended for you

Add Comment

Click here to post a comment

Leave a Reply