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Houston Rockets CEO Tad Brown: Current executives will not buy team

HOUSTON, TX - FEBRUARY 14: Houston Rockets Chief Executive Officer Tad Brown greets the crowd during the Opening Ceremony/NBA All-Star FIT Youth Celebration presented by Exxon Mobile on Center Court during the 2013 NBA Jam Session Presented by Adidas on February 14, 2013 at the George R. Brown Convention Center in Houston, Texas. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2013 NBAE (Photo by Bruce Yeung/NBAE via Getty Images)
HOUSTON, TX - FEBRUARY 14: Houston Rockets Chief Executive Officer Tad Brown greets the crowd during the Opening Ceremony/NBA All-Star FIT Youth Celebration presented by Exxon Mobile on Center Court during the 2013 NBA Jam Session Presented by Adidas on February 14, 2013 at the George R. Brown Convention Center in Houston, Texas. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2013 NBAE (Photo by Bruce Yeung/NBAE via Getty Images)
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The Houston Rockets front office will not form a group in order to buy the franchise.

On Monday, Houston Rockets CEO Tad Brown announced that the franchise was up for sale.

Leslie Alexander decided to sell the team because he is looking forward to the next chapter of his life.

Sports teams have become so expensive that a group of wealthy individuals is often formed to place a bid. The members of the Rockets front office will not be apart of that group.

According to Tad Brown, no members of the Rockets front office will attempt to purchase the team.

I can confirm that @dmorey will not be part of a group buying the @HoustonRockets, nor will I or any member of the current team 1/2

— Tad Brown (@tadbbrown) July 20, 2017

2/2 we are solely focused on finding the best buyer for Mr. Alexander, the City of Houston, and Rockets fans all over the world #Pursuit

— Tad Brown (@tadbbrown) July 20, 2017

Hall of Famer and former Rocket Dikembe Mutombo has expressed interest in forming a group to purchase the franchise, as he told Houston’s Fox 26 Sports.

“I’m just talking to the people who can cut the check and they can make me be part of it, Mutombo said. I’m working on that. A lot of people think it’s a great thing. It’s a great opportunity.”

Related Story: Dikembe Mutombo interested in buying the Houston Rockets

The Houston Rockets are a great investment

The opportunity to purchase a franchise like the Houston Rockets doesn’t come around often. Houston is the fourth-most populated city in the country and are very popular in China, because of Chinese Hall of Famer and former Rocket Yao Ming.

Rockets are top team in Asia. Could boost value on sale, especially if Asian interests get involved.

— Darren Rovell (@darrenrovell) July 17, 2017

The Rockets are coming off a successful season and have signed superstar point guard, Chris Paul. James Harden has expressed a desire to stay in Houston forever and signed a record extension into the 2022-23 season. Rockets GM Daryl Morey is also under contract until the 2021-22 season.

New York Knicks superstar Carmelo Anthony is also willing to waive his no-trade clause in the advent that he is dealt to Houston. Harden, Paul and Carmelo would form one of the best and most marketable teams in recent years.

In addition to the above, Forbes values the Rockets at $1.65 billion, the eighth highest valuation of an NBA team.

Next: The Houston Rockets Reportedly Re-sign Two Bench Players

Leslie Alexander purchased the Rockets for $85 million back in 1993. He may profit close to $2 billion after the sale, because of the stability and large fan base in Houston.

A very wise investment, indeed.

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