Rockets for sale after being owned by Alexander for 24 years
July 18, 2017 by admin
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Owner Leslie Alexander is putting the Houston Rockets up for sale after 24 years of ownership.
Alexander bought the team in 1993 for $85 million. Forbes values the franchise at $1.65 billion — good for eighth in the league — with revenues of $244 million.
“It’s been my great joy and honor to own the Houston Rockets for the past 24 years,” Alexander said in a statement. “I’ve had the incredible opportunity to witness true greatness through the players and coaches who have won championships for the city, been named to All-Star and All-NBA teams, enshrined in the Basketball Hall of Fame, and done so much for our franchise and our fans.
“And the Houston community has been home to me; I will continue to support the charities I have made commitments to throughout the years. I’ll always have a special place in my heart for the fans, partners, city officials and employees who care so deeply for this team.
“I’ve made this decision after much deliberation with my family and friends, and do so knowing the franchise is in great shape with the players, coaches and management team in place. CEO Tad Brown will oversee the sales process with the league office, supported by my management team.”
The Rockets won the NBA title in the first two seasons after Alexander bought the team. In 24 seasons under Alexander, the Rockets have won 56.9 percent of their games, fifth-highest in the league.
Brown said the 74-year-old Alexander had been approached over the years by potential buyers but never considered it until very recently. In fact, a sports investment banker told ESPN’s Darren Rovell that he was “shocked” by the announcement because Alexander had never publicly expressed interest in selling.
Brown said he will work with the league office to facilitate things while the team looks for a new owner.
There is no set timetable for the sale, but Brown said they want to find the right buyer and won’t rush the process.
Interest in the Rockets might not be limited to the United States. Houston is the No. 1 team in Asia because of the popularity of former All-Star Yao Ming of China.
Information from The Associated Press was used in this report.
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Russia And US To Discuss Russian Compounds Closed By US Authorities
July 18, 2017 by admin
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The status of the Russian estate in Long Island is set to be discussed by U.S. and Russian officials on Monday.
Alexander F. Yuan/AP
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Alexander F. Yuan/AP
The status of the Russian estate in Long Island is set to be discussed by U.S. and Russian officials on Monday.
Alexander F. Yuan/AP
U.S. and Russian diplomats are planning to meet Monday to discuss two Russian diplomatic compounds that U.S. authorities seized in December because they were allegedly being used for intelligence activities.
The Obama administration shuttered the two Russian luxury estates — on in Long Island, N.Y. and the other in Centreville, Md. – in retaliation for the country’s interference in the U.S. presidential elections. It also expelled 35 Russian officials.
At the time, “the Kremlin refrained from retaliating in the hope relations with the Trump administration would improve,” NPR’s Lucian Kim reports from Moscow.
Now, the Kremlin has warned that it may take retaliatory action if the properties are not returned.
Russian Foreign Minister Sergey Lavrov described the seizure as “robbery in broad daylight,” according to the state-run TASS news agency. “Decent and well brought-up people do not behave in such way,” he added.
The compound issue “is expected to dominate” the discussion between Russian Deputy Foreign Minister Sergey Ryabkov and U.S. Deputy Secretary of State Thomas Shannon, according to Tass.
NPR’s Michele Kelemen reported last month that the Trump administration may be open to the possibility of granting the Russians access to the compounds, as part of an effort to “find areas of cooperation.”
Steve Hall, a retired CIA Russian operations officer, mentioned a few reasons why the U.S. would evict the Russians in a December interview with All Things Considered:
“It’s possible that some of the intelligence led them to speculate or believe that the Russians were using these residential compounds for some sort of espionage activity. The second possible explanation is that it would simply be an irritant and would send a message to the Russians that, you know, we are displeased, and it would be sort of an annoyance.”