Brown said Alexander had been approached over the years by potential buyers but never considered it until very recently.
The Rockets are one of the NBA's most popular teams in Asia, thanks largely to former All Star Yao Ming, a Chinese national who played for the team. "And the Houston community has been home to me".
Alexander bought the team for $85million and, according to a Forbes estimate, the Rockets are now worth roughly $1.65billion. Since the team management is already secure, Brown said there wasn't a deadline to sell the team. That's nearly 20 times more valuable than the $85 million Alexander spent to purchase the team in 1993. The Los Angeles Clippers, a perennial loser in the league, were sold for $2 billion in 2014 to former Microsoft CEO Steve Ballmer after the National Basketball Association forced then-owner Donald Sterling to relinquish the team. He also owned teams in the original Arena Football league named the Texas Terror and the Houston Thunderbears. New NBA franchises must pay a fraction of their revenue to existing teams, though.
The franchise has made several moves during the offseason that could impact the value and attractiveness of the franchise including signing MVP runner-up James Harden to an extension through the 2023 season, trading for 9-time all-star Chris Paul and extending General Manager Daryl Morey.