NBA sources told FOX 26 Sports Houston Rockets owner Leslie Alexander has reached an agreement to sell his franchise to Houston billionaire Tilman Fertitta.
The sources indicate the team could possibly announce the agreement today.
Neither side has been available for comment.
NBA sources confirm Fertitta is paying a record $2.2 billion for the franchise.
Rockets CEO Tad Brown, who is handling the sale for Alexander, said when the team was put on the market in July he would have no comment during the process.
When Brown announced the Rockets were for sale, Fertitta quickly said he had an interest in buying
the team, but the owner and chairman of Landry's, Inc., has said nothing concerning his efforts since.
One of Fertitta's competitors to buy the Rockets was another Houston billionaire, Dan Friedkin.
The owner of Gulf States Toyota said in a statement last month he had expressed an interest in exploring the purchase of the Rockets.
Several former Rockets stars have expressed some level of interest in being part of a Rockets ownership group, including Dikembe Mutombo, Hakeem Olajuwon and Elvin Hayes, all members of the Naismith Memorial Basketball Hall of Fame.
Bloomberg reported last month entertainer Beyonce, who is from Houston, was considering investing in the Rockets.
Alexander has owned the franchise for 24 years, won two NBA championships, and has been willing to put the trigger on major deals time and again.
That includes the blockbuster trade to bring future Hall of Famer Chris Paul to Houston, and then to sign another future Hall of Famer, James Harden, to a record-setting contract.
Alexander also made certain the Rockets front office would retain its stability by signing general manager Daryl Morey to a four-year extension in June.
At different times Fertitta has been involved with professional sports as a limited partner with the Rockets and the Texans.
Forbes estimates his net worth at $3.1 billion.
The NBA's Board of Governors will have to approve Fertitta as the next owner of the Rockets franchise.