Sky high: popularity in China could see price of NBA’s Houston rocket to over US$2 billion
Former star Yao Ming makes the team very popular in the mainland, and he may be part of a group that makes a bid for the 1995 champions
The sale of the Houston Rockets could set a National Basketball Association record, surpassing the US$2 billion that Steve Ballmer paid for the Los Angeles Clippers, according to sports consultants.
Rockets owner Les Alexander said on Monday that he was selling the franchise, which Forbes magazine says is valued at US$1.65 billion.
The sale price will likely be higher, said former Rockets president George Postolos, thanks in part to the team’s popularity in China, where former Rockets star Yao Ming is immensely popular.
The Rockets, who last won an NBA title in 1995, recently gave star guard James Harden the largest contract in NBA history, a four-year extension that brings the deal to a reported US$228 million. The team also recently traded for nine-time All Star point guard Chris Paul.
“With the Rockets’ history, having had Yao Ming and the team’s high profile in Asia, James Harden, Chris Paul and the high profile they have on the current roster, all the other attributes of the franchise, they’re gonna be very attractive,” said Postolos, who is now a sports consultant. He said the price will likely approach what Ballmer paid in 2014.
