The Houston Rockets may soon be getting a new owner in the form of one of the city's biggest hometown stars.
According to Bloomberg, Beyoncé may be eyeing an investment in the franchise after the owner, Les Alexander, said last month he was selling the team. Alexander purchased the Rockets in 1993 for $85 million. Since then, the team's value has increased drastically, with the league's popularity in China possibly pushing its sale price past $2 billion.
If the Houston superstar does invest in the NBA franchise, she'll be cultivating a portfolio similar to that of her business mogul husband, Jay Z, who purchased a stake in the Brooklyn Nets in 2004 for a reported $1 million. Nine years later, he sold his stake for an estimated $2.35 million to focus on representing professional athletes through the development of his Roc Nation Sports division.
If Beyoncé does invest in the Rockets she'll join a growing list of celebrities and entertainers who hold ownership stakes in sports teams, including Memphis Grizzlies part-owner Justin Timberlake, Miami Dolphins investment group members Jennifer Lopez, Venus and Serena Williams and Will Ferrell, who owns a stake in Major League Soccer's Los Angeles Football Club.
So far, NBA Hall of Famer and former Rockets player Dikembe Mutombo has also expressed interest in a Rockets ownership stake, and said last month that he is working on putting a group together to purchase the team.
An investment in the Rockets could be a sweet addition to the $1.16 billion empire she's building with Jay Z.
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