Reports: Les Alexander putting Houston Rockets up for sale
Longtime Houston Rockets owner Les Alexander is selling the team after owning it for nearly a quarter century, multiple media outlets in Houston are reporting.
Rockets CEO Tad Brown made the announcement Monday.
Alexander bought the Rockets before the 1993-94 season for $85 million, according to the Houston Chronicle.
That was the first year of the team's back-to-back NBA championships.
Forbes recently valued the franchise at more than $500 million.