Beyoncé Wants to be Part Owner of the Houston Rockets
Beyoncé, probably the most famous Houston native ever, wants a piece of the Houston Rockets.
According to Bloomberg, there is strong indication that Beyonce wants to part owner of the NBA franchise, which just went on the selling block last month.
Most agree that the Rockets are worth $2 billion and up. So, unless Bey gets her hand on a couple of billion, she won’t be able to buy the team by herself. She’ll have to join in with a group of big money investors. In the end, Bey would get a small percentage of the team while the Rockets get the good press of having an iconic figure as one of its owners. (Just think of Justin Timberlake who owns a piece of the Memphis Grizzlies.)
Les Alexander, an ex-hedgefund guy, is selling the team after owning it since 1993 when he purchased the franchise for $85 million. Again, he’s probably going to get $2 billion and up back.
Life hack: buy an NBA franchise.