Steve Ballmer

Restaurant, casino owner to buy Rockets for $2.2 billion

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...