Food & Drink

This NBA Team is For Sale, But Does Seattle Stand a Chance?

The owner of the Houston Rockets announced Monday that the team is up for sale.

By Michael Rietmulder July 17, 2017

keyarena-stock

[addtoany]

In a surprise move Monday, the owner of the Houston Rockets announced he’s putting the NBA franchise he’s owned for 24 years on the market.

Billionaire Leslie Alexander cites a desire to pursue other passions as his reason for selling the team, which won championships the first two seasons after he took over.

Of course, we happen to know of a certain city that could use an NBA team. Just last month Tim Leiweke, who heads the company planning to renovate KeyArena, sounded pretty grim about the prospects of landing an NBA franchise in the near future. The Oak View Group honcho noted to the Seattle Times that NBA Commissioner Adam Silver said the league is several years away from expanding, so OVG is better served chasing an NHL team first.

“I seem to be the only one willing to step up and say ‘Folks, here’s the reality of the situation we face. Let’s be honest here,’’’ Leiweke told the Times. “‘There is no NBA team to be had today.’ And if there is one to be had, we will be the first ones on it and we have an ownership group and partners that have the ability of going and chasing that team.’’

Well, now there is one to be had.

As word of the Rockets putting up its for-sale sign spread, some fans couldn’t help but fantasize about bringing an NBA team back to Seattle.

 

We reached out to the Oak View Group, asking if the company will make a play for the newly available franchise, and will update if more information becomes available. However, Houston’s KPRC 2 reports that Alexander “is committed to finding a buyer that will keep the team in Houston.” Further hurting the relocation odds, the Rockets’ lease with the Toyota Center runs through 2033.

Either way, Alexander stands to make a boatload of cash once a sale goes through. Earlier this year Forbes valued the Rockets at $1.65 billion, nearly double what Alexander paid for the team in 1993. According to the magazine, it’s the eighth highest valued team in the league.

Rockets CEO Tad Brown, who’s handling the sales process, tells ESPN the team will take its time to find the right buyer.

 

Follow Us

Chik-Fil-A and Starbucks, But No KFC

Chik-Fil-A and Starbucks, But No KFC

What’s your guilty fast-food pleasure?

Now comes a new data study that reveals Washington’s favorite and least favorite fast-food chains...

Virtual Playground

Virtual Playground

VR social gaming launches in Bellevue

Brush up on your VR gaming skills so you don’t flail in front of an audience — though, that’s meant to be part of the fun...

Downtown Seattle Gains Ground

Downtown Seattle Gains Ground

Foot traffic is on the rise

Downtown Seattle foot traffic continues to increase even though major retailers are increasingly moving out...

Canlis Goes Pink For KENLIS

Canlis Goes Pink For KENLIS

Upscale restaurant gets a colorful makeover

[addtoany]Canlis is going pink. The Seattle fine dining restaurant is ditching its dark colors in favor of a bold pink for a Barbie-themed event called “KENLIS” Aug. 9 and 10. The restaurant is now painted a flashy bright pink. The event is a dance party at “the Canlis dream house” that benefits breast cancer research…