The Houston Rockets are up for sale. While they certainly won’t go for a song, a popular singer is said to be interested in owning part of the NBA team.
Beyoncé, who was born and raised in Houston, is considering an investment in the Rockets, according to Bloomberg, citing people familiar with the matter. No one from Beyoncé’s camp or the Rockets chose to comment on the possibility.
Les Alexander bought the team in 1993 for $85 million and the Rockets went on to win back-to-back NBA championships in 1994-95. He announced last month his intention to sell, and though Forbes valued the team at $1.65 billion in February, some expect the price to top the $2 billion price tag that former Microsoft CEO Steve Ballmer paid for the Los Angeles Clippers in 2014.
Ethan Rothstein in SB Nation cited the Rockets’ 55-win season, second-round playoff appearance, trade for All-Star point guard Chris Paul and contract extension to former MVP and scoring champ James Harden — all coming after the Forbes valuation — as “escalating factors” for a team that appears on the rise.
Beyonce’s estimated worth, again by Forbes, is $350 million. Her rich musical background has resulted in more than 100 million records sold worldwide, 22 Grammy Awards and acting praise for her Golden Globe-nominated turn in Dreamgirls.
Entertainers becoming sports owners seems to be a trending topic.
Singer Justin Timberlake has a minority interest in his hometown Memphis Grizzlies of the NBA. Hip-hop artist Nelly owns a piece of the NBA’s Charlotte Hornets. Gloria Estefan, Fergie and Marc Anthony all have minority stakes in the NFL’s Miami Dolphins. Jon Bon Jovi was a majority owner of the Philadelphia Soul of the Arena Football League when the team began in 2004.
Even Beyoncé’s husband, Jay-Z, was a former shareholder of the Brooklyn Nets before selling his interest in 2013 so he could become an agent and represent athletes. He went from paying the performers to being paid by them.
For Houston, the future does seem bright. The city’s sports fans rode the Killer B’s to a World Series. Could the Rockets soar to championship heights with the Queen Bee?