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After 24 years, Houston Rockets owner Leslie Alexander selling team

18 July, 2017, 03:11 | Author: Alberta Rodriguez

In recent days, the #Houston Rockets surprised nearly everyone when they acquired #Chris Paul via trade from the Los Angeles Clippers, and signed #James Harden to a record $228-million contract extension.

Rockets executive Tad Brown said Monday afternoon that owner Leslie Alexander is selling the team he's owned since 1993-a sudden, unexpected announcement that stunned people across the league and started a process that seems likely to end in the. The team made a blockbuster trade on Valentine's Day in 1995 to acquire hometown hero Clyde Drexler, who was a key factor in the second championship. They also recently signed James Harden to a record $228 million, four-year deal.

Brown said Alexander, 73, has no health issues that led to the decision to sell the team almost 24 years to the day after he purchased it for $85 million from Charlie Thomas. Under his ownership, Silver said Alexander created a culture of excellence with strong management.

"I do think it's a grind and he's exhausted", Brown said. There is no set timetable for the sale, but Brown said they want to find the right buyer and won't rush things. He said Alexander is committed to finding a buyer that will keep the team in Houston.

If you're in the market for a professional sports team, you're in luck.

The 73-year-old businessman and financier won back-to-back championships in 1994 and 1995 in his first two seasons as team owner and has spent more than two decades trying to get his team back to the top of the National Basketball Association. Alexander said he will continue to support the charities he has made commitments to through the years.

The good news is the front office, coaching staff and players should not be affected by the Rockets being put up for sale. He had continued to be closely involved in team decision-making and attended press conferences on Friday and Saturday, even watching the Toyota Center event to welcome Chris Paul to Houston from the arena floor.

NBA Commissioner Adam Silver raved about Alexander.

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