The Houston Rockets announced today that Tilman J. Fertitta, a Houston businessman, has agreed to purchase the franchise.

Fertitta, the owner of Golden Nugget Casinos and Hotels in addition to the Landry’s Inc., began the purchasing process in July. Should it pass the NBA Board of Governors, the Rockets are looking at a new owner.

Speaking to, Fertitta said:

I am truly honored to have been chosen as the next owner of the Houston Rockets. This is a life-long dream come true. Leslie Alexander has been one of the best owners in all of sports, and I thank him immensely for this opportunity. He has the heart of a champion. Lastly, out of respect for the NBA’s approval process, I can say no more other than I am overwhelmed with emotion to have this opportunity in my beloved city of Houston.

Current owner, Leslie Alexander, shared this excitement, saying that he is:

Excited to welcome and pass the torch to Tilman. He is a Houstonian, business leader and committed to the success and excellence of the Rockets both on and off the basketball court. I have personally known Tilman for over 24 years and don’t think I could have found anyone more capable of continuing the winning tradition of our Houston Rockets.

The ambitious Texas team have made some strong moves this offseason, and are proving to be an attractive franchise.