Report: Beyonce Interested in Buying Stake in Houston Rockets
Recording artist, actress and global superstar Beyonce is interested in buying a piece of the Houston Rockets, according to a report from Bloomberg News.
Current Rockets owner Leslie Alexander announced last month that he's seeking to sell his controlling share in the team.
Beyonce was born and raised in Houston, and she's had an inside look at what life as an NBA minority owner looks like—her husband, Jay-Z, famously owned a small portion of the Brooklyn Nets from 2004-2013. He was forced to sell his share after he formed Roc Nation Sports, a sports agency. Jay-Z's involvement with Roc Nation Sports could present a conflict of interest; the agency represents multiple NBA players including Kevin Durant, Justise Winslow and Rudy Gay.
Should she buy a piece of the team, Beyonce would join a sizable list of celebrities who have owned a stake in professional sports franchises. Currently, Justin Timberlake owns a piece of his hometown Memphis Grizzlies and Usher owns part of the Cleveland Cavaliers.
The report does not suggest how much Beyonce is looking to buy, but whatever she does intend to acquire, it will not come cheap. Forbes currently lists the Rockets as being worth $1.65 billion, but there is some belief that a sale will surpass $2 billion. NBA franchises—and all American sports franchises, in general—have skyrocketed in value thanks to lucrative sales like that of the Los Angeles Clippers, which Steve Ballmer bought for $2 billion in 2014.
Alexander bought his stake in the Rockets for $85 million in 1993, thus putting him in line for a potential 1000% return on investment.
Alexander's decision to put the team up for sale—which was made public at a press conference and came as a complete surprise to the NBA universe—comes at quiet an interesting time. The Rockets are coming off a 55-win season and recently added Chris Paul. The team is also reportedly in talks to acquire Carmelo Anthony.
Beyonce, her reps and Jay-Z are all yet to comment on the report.