The Houston Rockets announced the franchise was looking to be sold by owner Les Alexander just a few weeks ago, and momentum may be building.
Alexander would be getting out as Rockets owner at an ideal team, with the team looking like a powerhouse in the NBA after acquiring Chris Paul to partner with Most Valuable Player candidate James Harden. Houston is good, which means the team's value should be huge.
Alexander bought the team for $85 million in 1993, with Forbes now valuating the Rockets at $1.7 billion. When it comes to return on investment, it's clear Alexander is ready to cash out on what will be a huge sum of money once the Rockets are sold.
Selling NBA teams has only become more difficult as valuations go up. NBA money has been steadily rising, with lucrative broadcast contracts, growing popularity and business booming as a whole. It takes serious wealth to buy into the league in the present.
Enter megastar Beyoncé, who is from Houston, has never been shy about her love of the Rockets, and could bring more than just money to the table. Beyoncé is interested in investing into an ownership stake in the team, reports Bloomberg.
Beyoncé would join a growing list of celebrities who've turned to professional sports as a means of investment and growing their portfolios. Justin Timberlake, Venus and Serena Williams, Jennifer Lopez and Will Ferrell have all invested into sports franchises.
Jay-Z, Beyoncé's husband, once owned a minority stake in the Brooklyn Nets. Jay-Z's agency, Roc Nation, began representing athletes, which forced him to sell his portion of the Nets due to potential conflicts of interest.
There could be concerns about those same conflicts arising if Beyoncé becomes part of an ownership group that takes over the Rockets, but it's unclear if that would play a role in any decision the league makes regarding Houston's future.
Beyoncé could be a huge ambassador for not only the Rockets, but the NBA as a whole, should she make the move. The investment won't come cheap, but any ownership group would be crazy not bring a Houston-native and cultural icon like Beyoncé into the mix. It's a great fit potentially.
The bidding war for the Rockets has yet to start, though, so who knows how long the process will take. It might take some time to find a group, or person - as Steve Ballmer bought the LA Clippers outright - ready to invest close to $2 billion.News Now - Sport News