Rockets owner Tilman Fertitta predicts his $2.2 billion franchise could soon be worth $3.3 billion
The Rockets were surprisingly sold over the summer for a whopping $2.2 billion. At the time, it was the highest sale price in NBA history and it helped set a precedent. Forbes currently lists every franchise in the NBA as being worth $1 billion or more, and the Rockets are ranked seventh among all teams in value.
While the $2.2 billion price tag seems like a ludicrous amount to pay for a franchise, New Rockets owner Tilman Fertitta says the team can be worth even more than that. When talking to Sam Amick of USA Today, Fertitta said the Rockets’ value can rise to $3.3 billion.
“We were hell-bent that we weren’t going to lose (the bidding) this time,” Fertitta said. “But you can’t make somebody sell something to you if they don’t want to sell it.”
“I sure didn’t underpay. But you know what, if we look in five to 10 years, and the team is worth $3 billion, which I think it will be, it would have been a great deal. And the joy that it’s given me and my family is — that’s an awful lot”
This speaks volumes to not only the Rockets value, but where the NBA as a whole is heading. Investors buying into the NBA consider it a profitable venture and that the value will continue to rise. This is just the beginning of its peak.
The NBA is currently invested in a huge TV deal and it’s consistently trying to stay ahead of the curb in terms of technology like streaming services, virtual reality and gambling. With these factors, and the sport’s continuing growth in popularity, it’s no wonder investors like Fertitta can see a franchise like the Rockets rising even further in value.