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Tilman Fertitta reportedly buys Rockets for record $2.2 billion

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Tilman Fertitta reportedly buys Rockets for record $2.2 billion

HOUSTON -- Restaurant and casino owner Tilman Fertitta agreed to buy the Houston Rockets from Leslie Alexander on Tuesday for an NBA-record $2.2 billion, a person with knowledge of the details said.

The price surpasses the $2 billion Steve Ballmer paid for the Los Angeles Clippers in 2014. The value was confirmed to The Associated Press on condition of anonymity because terms were to remain private.

The deal must be approved by the NBA Board of Governors. It includes Clutch City Sports and Entertainment, which puts on shows and concerts at the Toyota Center.

"I am truly honored to have been chosen as the next owner of the Houston Rockets. This is a life-long dream come true," he said. "Leslie Alexander has been one of the best owners in all of sports, and I thank him immensely for this opportunity ... I am overwhelmed with emotion to have this opportunity in my beloved city of Houston."

Fertitta will be the team's sole owner. He is the owner of the Landry's restaurant chain and Golden Nugget casino and hotels. He was born in Galveston, Texas and has lived in Houston his entire adult life. The 60-year-old billionaire is the chairman of the board of regents of the University of Houston System and star of the reality show "Billion Dollar Buyer" on CNBC.

Alexander, who announced the team was for sale in July, took over as owner on July 30, 1993, and the Rockets went on to win back-to-back titles in 1994-95 behind the likes of Hakeem Olajuwon and Clyde Drexler. In 24 seasons under Alexander, the Rockets have won 56.9 percent of their games, fifth-highest in the league.

"I am excited to welcome and pass the torch to Tilman," Alexander said. "He is a Houstonian, business leader and committed to the success and excellence of the Rockets both on and off the basketball court. I have personally known Tilman for over 24 years and don't think I could have found anyone more capable of continuing the winning tradition of our Houston Rockets."

The 74-year-old Alexander decided to sell the team to spend more time with family and working on his charitable endeavors.

Without Joel Embiid in Toronto, Sixers 'jumped' in telling loss to Raptors

Without Joel Embiid in Toronto, Sixers 'jumped' in telling loss to Raptors

BOX SCORE

TORONTO — Ben Simmons' double-double feat aside, the Sixers have had little to enjoy about the start to the season.

They were outclassed Saturday night, 128-94, by the Toronto Raptors and have lost their first three games (see observations).

As has been their custom for back-to-back games, center Joel Embiid did not play Saturday after playing Friday in the loss to the Boston Celtics to protect his left knee.

Head coach Brett Brown said he did not expect things to go this way.

“I didn’t,” he said. “I knew the first three games were going to be difficult. I knew coming into this building after a back-to-back was going to be difficult, but you are certainly not expecting it to be that margin of a deficit. I give Toronto credit.

“We have a lot of work to do; we look forward to getting Joel (Embiid) back in this and continuing to learn how to play the group.”

After trailing by as many as 17 points in the first quarter, the Sixers whittled the lead to eight when Jerryd Bayless hit a couple of free throws with 2:22 left in the first half.

Toronto led 62-49 at the half and blitzed the Sixers to open the third quarter with Serge Ibaka scoring eight of their first 10 points of the second half. With 3:12 left in the third, the Raptors led by 29.

“They jumped us, especially at the start of the third, certainly portions of the first period but especially the start of the third and you’re just playing catch up pretty much for the rest of the game after that first almost minute, minute and a half,” Brown said.

“You’re just trying to find some type of order and purpose to end the game with that in mind.”

It was a subdued atmosphere in the dressing room after the game.

The edge surely was removed from another double-double by Simmons.

He had 18 points, 10 rebounds and eight assists.

Simmons joins Oscar Robertson as the only NBA players to average 10-plus points, 10-plus rebounds and five-plus assists in their first three career games.

“It looks great, but I’d rather have a win,” he said. “I’d rather we had three wins than three double-doubles.”

Simmons said he is looking forward to Embiid returning to the lineup Monday against the Detroit Pistons.

He said he could feel the game slipping away Saturday.

“Toward the third, coming out we just didn’t click, didn’t have it together,” Simmons said. “It’s tough without Joel (Embiid), obviously there’s chemistry and then you switch it up, so that comes into it, but we need to learn to play without him, with those back-to-backs.

“We have to stay together as a team, talk it out, get through it, communicate on the court and hold each other accountable. … We have to sit down and look at what we did wrong, that’s with every game, you have to fix your mistakes and come out ready for the next one. It’s a long season.”

It could seem even longer if there aren't signs of improvement.

“Coach Brown has talked since Day 1 of camp about our goal; to build every day, to take something positive every day and I think for tonight, we were unable to do that,” guard J.J. Redick said. “I was just saying if it’s a six-minute stretch where we are doing things well, cutting into their lead, that’s something to build on. I don’t think we did that before but that’s what I was trying to get across.

“I’m a patient person; if we were 0-45 then I’ll start to panic. There are 82 games, we have a very tough schedule to start, we’re a young team, and that’s not an excuse but the reality is the team we played tonight and the team we played in D.C. Wednesday night, they’ve been together a long time and know how to play together. We have to figure out a way to jell quicker and we have to understand and close our margin for error.”

Sixers-Raptors observations: Not much life without Joel Embiid in blowout loss

Sixers-Raptors observations: Not much life without Joel Embiid in blowout loss

BOX SCORE

TORONTO — The Air Canada Centre has become a tough place for the Sixers.

Nothing has changed with a new season.

The Raptors defeated the Sixers, 128-94, Saturday night for their 16th win in the past 17 games against the Sixers, including 10 in a row at the Air Canada Centre.

The Sixers have problems beating the Raptors at home as well as away, which pretty well takes care of all the possibilities.

Say this for the Sixers, after falling behind by 17 points during the first quarter, they had the lead down to eight in the second quarter on a pair of free throws by former Raptor Jerryd Bayless. It was 62-49 for Toronto at the half.

Then there was the second half.

The Raptors raced out to a 72-51 lead early in the third quarter, with Serge Ibaka scoring eight of their first 10 points. Kyle Lowry finished the scoring in the third quarter with a three-pointer to increase Toronto’s lead to 102-71.

• Amir Johnson got the start at center with Joel Embiid missing the second half of a back-to-back to rest his left knee. Johnson knows his way around the Air Canada Centre, having played for the Raptors for six seasons before going to the Boston Celtics for the past two seasons. He received a nice cheer during the pregame introductions and then scored the game’s first basket on a dunk.

• Jahlil Okafor took over at center 5:27 into the first quarter and quickly scored to tie the game at 13, but he was out of the game after playing 2:49 after picking up three quick fouls.

• Ben Simmons had his third consecutive double-double with 18 points and 10 rebounds. He also had eight assists. He already had accomplished something never done before in franchise history entering the game against the Raptors. The rookie forward recorded double-doubles in his first two career NBA games against the Washington Wizards and the Boston Celtics. He is the 11th player in NBA history to do so.

• Toronto guard DeMar DeRozan was listed as questionable for Saturday’s game because of flu symptoms. No such luck for the Sixers, he was in the starting lineup and looked quite well as he pumped in 15 points in the first quarter on 4 for 4 shooting from the field and a telling seven free throws in eight attempts. He finished with a game-high 30 points.

• As if the discrepancy in free throws has not been enough of a problem in the early going for the Sixers, Markelle Fultz missed three of his first four free-throw attempts against the Raptors. Toronto was 24 for 28 from the line in the first half and the Sixers were 12 for 18. Toronto made 31 of 37 foul shots on the game and the Sixers made 22 of 36. 

• Toronto reserve Lucas Nogueira scored on a breakaway dunk during the third quarter, which may redefine garbage time.

• For those who thought the 17 turnovers committed by the Sixers in each of their first two games were bad, what do you think of 20 turnovers Saturday night?

• Raptors center Jonas Valanciunas was restricted to 15 minutes (five points, four rebounds) because of a sprained left ankle. He had a double-double in the team’s opening game win over the Chicago Bulls.