Tilman Fertitta Officially Becomes Owner of Houston Rockets After Sale Closes

Tilman J. Fertitta took ownership of the Houston Rockets franchise Friday after closing his purchase of the NBA organization and receiving unanimous approval from the league's Board of Governors. 

The Rockets announced the news on their official website and provided a statement from Fertitta, who becomes the 10th owner in team history.

"I could not be happier," he said. "To own the Rockets in my hometown of Houston is a dream come true. I promise to continue to make this city proud of the Rockets and to do what we can to bring home a championship."

Houston confirmed the record-setting $2.2 billion sale price Fertitta paid to Leslie Alexander, who'd owned the Rockets since July 1993.

"I have been friends with Tilman since 1993, so it is my great honor to announce that Tilman and his family have been able to fulfill their dream of owning the Houston Rockets," Alexander said. "Tilman's passion, commitment to excellence, and unrivaled love for the city of Houston are going to serve him well as a great owner of this proud franchise."

Fertitta, 60, is the owner of restaurant corporation Landry's Inc. TheRichest estimates the Texas native's net worth at $2.7 billion.

He takes over the Rockets following an offseason where the team acquired star point guard Chris Paul from the Los Angeles Clippers and gave James Harden a four-year, $170 million contract extension, which brought the franchise's overall commitment to the shooting guard to a record $228 million.

OddsShark noted Houston is listed at 12-1 to win the 2017-18 NBA championship. That's tied for the fourth-lowest odds with the San Antonio Spurs behind only the Golden State Warriors, Cleveland Cavaliers and Boston Celtics.