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Tilman Fertitta won’t sell minor stake in Houston Rockets

Phoenix Suns v Houston Rockets

HOUSTON, TX - MARCH 15: Houston Rockets owner Tilman Fertitta leaves the court after the game against the Phoenix Suns at Toyota Center on March 15, 2019 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. (Photo by Tim Warner/Getty Images)

Tim Warner

Despite laying off approximately 70% of the employees at his companies, it won’t change anything with Tilman Fertitta’s sole ownership of the Houston Rockets per ESPN’s Tim McMahon:

Fertitta purchased the Rockets in October of 2017 for a then-record $2.2 billion. Fertitta reportedly sold over $1.4 billion in bonds to finance the purchase from Les Alexander. He’s been the team’s sole owner since that point.

McMahon reports that Fertitta won’t consider minority partners “as a matter of pride”. Under Fertitta’s ownership, Houston has had to be cautious of exceeding the NBA’s luxury tax. Rockets General Manager Daryl Morey has made several trades over the past few seasons to dodge the tax.

Outside of the Rockets, Fertitta owns Landry’s Inc., which is the parent company of several restaurants. Fertitta also owns several hotels, casinos and entertainment venues.