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HOUSTON,TEXAS : Here is a photograph of the Houston Rockets logo and big screen against the Los Angeles Clippers at the Toyota Center During Game Two of the Western Conference Semifinals during the 2015 NBA Playoffs on May 6, 2015 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 2015 NBAE (Photo by Jesse D. Garrabrant/NBAE via Getty Images)
HOUSTON,TEXAS : Here is a photograph of the Houston Rockets logo and big screen against the Los Angeles Clippers at the Toyota Center During Game Two of the Western Conference Semifinals during the 2015 NBA Playoffs on May 6, 2015 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 2015 NBAE (Photo by Jesse D. Garrabrant/NBAE via Getty Images)Jesse D. Garrabrant/Getty Images

Tilman Fertitta: Rockets Haven't Had Any Pay Cuts, Layoffs amid COVID-19

Adam Wells
May 1, 2020

Houston Rockets owner Tilman Fertitta is downplaying any speculation about his financial struggles amid the coronavirus pandemic.ย 

Speaking to The Athletic's Sam Amick, Fertitta supported his point by noting the Rockets haven't laid off or cut salary for any of their employees, while other NBA teams have done both.ย 

"Absolutely not one," he said. "We've had no pay cuts. We didn't apply for any funds within the Rockets, governmental or anything."

Fertitta's financial stability has been a heavy topic of discussion since the NBA suspended its season on March 11.ย 

Perย Davide Scigliuzzoย ofย Bloomberg, one-third of Fertitta's net worth, estimated at $5 billion, "evaporated" due to the pandemic because his businessesโ€”primarily casinos and restaurantsโ€”have had to shut down for the time being.ย 

"We are trying to survive," Fertitta told Scigliuzzo. "I have enough liquidity to ride this out. I can't go forever but I can go for a few months."

Fertitta's non-Rockets businessesย furloughedย 40,000 employees in March.ย 

The Utah Jazzย announcedย last month they were laying off "a small percentage" of its workforce.ย 

Perย Nancy Sarnoffย andย Paul Takahashiย of theย Houston Chronicle, the 62-year-oldย Fertittaย recently took out a $300 million loan at a 13 percent interest rate.ย 

Despite those outside concerns, the Texas native told Amick the Rockets operateย "in a silo"ย separate from his other ventures. Heย purchasedย the franchise in September 2017 for $2.2 billion, the highest sale price for an NBA team ever.ย 

Bleacher Report's David Gardner interviews athletes and other sports figures for the podcastย How to Survive Without Sports.

Kuminga's Contract Decisions ๐Ÿคจ