Teams/Southwest Division
Houston Rockets
Tilman Fertitta has been sole owner of the Rockets since October 2017, when he paid Leslie Alexander $2.2B for 100%. Forbes values the team at $6.6B, and it has had nine owners or ownership groups since its founding in San Diego in 1967.
Every owner since the start
- 2017 to todayTilman Fertitta
Bought 100% from Leslie Alexander for $2.2B.
- 1993-2017Leslie Alexander
Bought from Charlie Thomas for $85M on 30 July 1993.
- 1982-1993Charlie Thomas
Bought from the Maloof family for $11M.
- 1979-1982George Maloof Sr., then his son Gavin Maloof
Bought for $9M. Gavin ran the club after George died in 1980.
- 1976-1979Basketball Venture
Acquired from James Talcott, Inc.; price not found. Wikipedia names developer Kenneth Schnitzer as primary owner.
- 1975-1976James Talcott, Inc.
Acquired from Texas Pro Sports; price not found.
- 1973-1975Texas Pro Sports
Acquired from Texas Sports Investments; price not found.
- 1971-1973Texas Sports Investments, led by Wayne Duddlesten and Billy Goldberg
Bought the whole franchise for $5.6M on 23 June 1971 and moved it to Houston.
- 1967-1971Robert Breitbard
Founded the team in San Diego. The entry fee paid to the NBA was $1.75M.
Value over time
- 12017 Fertitta buys, $2.2B
Show the numbers
| Year | Forbes value |
|---|---|
| 1998 | $166M |
| 1999 | $168M |
| 2000 | $206M |
| 2002 | $234M |
| 2003 | $255M |
| 2004 | $369M |
| 2005 | $422M |
| 2007 | $462M |
| 2008 | $469M |
| 2009 | $470M |
| 2011 | $443M |
| 2012 | $453M |
| 2013 | $568M |
| 2014 | $775M |
| 2015 | $1.25B |
| 2016 | $1.5B |
| 2017 | $1.65B |
| 2018 | $2.2B |
| 2019 | $2.3B |
| 2020 | $2.48B |
| 2021 | $2.75B |
| 2022 | $3.2B |
| 2023 | $4.4B |
| 2024 | $4.9B |
| 2025 | $5.9B |
| 2026 | $6.6B |
| Year | Sale | Team valued at |
|---|---|---|
| 2017 | Tilman Fertitta buys 100% from Leslie Alexander for $2.2B | $2.2B |
Forbes valued the team at $166M in 1998 and $6.6B in 2026, about 40 times as much. The biggest one-year jump was $1.2B, from $3.2B in 2022 to $4.4B in 2023, a 37.5% rise.
How the current owner bought it
- The agreement was reported on 5 September 2017, and the NBA approved it on 6 October 2017.
- Fertitta raised a $2.5B package of high-interest bonds and loans. $1.65B of it went up to his holding company to fund the purchase.
- NBA rules capped team-level debt at $250M, so his restaurant and casino group did the borrowing.
- He reportedly had under $300M in cash and also took a loan from the seller.
- Forbes valued the team at $1.65B in 2017, so he paid about a third more.
Partners in the team
None are known: Fertitta owns 100% and declined to sell a minority stake during the 2020 cash squeeze.
How the team is run
- Fertitta has been U.S. Ambassador to Italy and San Marino since May 2025. The State Department ruled he need not sell the Rockets but cannot take part in day-to-day operations.
- Patrick Fertitta handles ownership duties. The Houston Chronicle credits him with extending coach Ime Udoka at $11M a year through 2031 and acquiring Kevin Durant.
- The Rockets paid no luxury tax, the league charge on high payrolls, in his first years. The Athletic reported in November 2020 that he was determined to cut payroll.
- From 2027 Toyota Center will also host the Houston Comets of the WNBA. The WNBA and NBA boards approved Fertitta as buyer of the Connecticut Sun on 13 May 2026.
- Forbes puts team debt at 3% of value. No league fine or lawsuit against him personally was found.
Quick answers
Who owns the Houston Rockets?
Tilman Fertitta has been sole owner of the Rockets since October 2017, when he paid Leslie Alexander $2.2B for 100%.
How much are the Houston Rockets worth?
Forbes values the Houston Rockets at $6.6B in its October 2026 list, up 12% from $5.9B a year earlier. That makes them the 7th most valuable of the 30 teams; in 1998 Forbes put the team at $166M.
How much did the current owner pay for the Rockets?
$2.2B (Tilman Fertitta, 2017). Forbes now values the team at 3.0 times that price.
Who owned the Houston Rockets before the current owner?
Leslie Alexander (1993-2017). Bought from Charlie Thomas for $85M on 30 July 1993.
Open questions
- Who was behind Texas Pro Sports, James Talcott, Inc. and Basketball Venture, and what each paid, was not found.
- The Handbook of Texas and Wikipedia differ on who led the club from 1975 to 1979.
- Investors led by Kenneth Huang bought a minority share from Alexander in 2006. Its size, price and later fate were not found.
- Whether the 2017 price included Toyota Center operating rights or a share of the regional TV network is not confirmed.