Beyoncé Interested In Partial Ownership Stake In The Houston Rockets

Houston-native Beyoncé is showing interest in buying shares of her hometown’s professional basketball team, the Rockets.

BEYONCÉ NEWS: INTERESTED IN OWNING HOUSTON ROCKETS

According to Bloomberg’s Scott Soshnick, the celebrated singer is considering buying a partial stake of the Houston Rockets. Pop superstar Beyonce is mulling an investment in the National Basketball Association’s Rockets, according to people familiar with the matter,” Soshnick says. “It’s common for celebrities to make small investments in sports teams. Beyonce’s husband, Jay-Z, for instance, was born in Brooklyn and once held a less than 1 percent stake in basketball’s Nets. He sold his share of the team after starting Roc Nation, which represents athletes.”

The statement continued to say that neither the Rockets nor Beyoncé’s publicist Yvette Noel-Schure have responded to the claim. In addition, a Sony spokesperson and Jay-Z’s also declined comment.

Rockets owner Leslie Alexander announced he would be selling the team in July, and the price, according to Soshnick, could exceed $2 billion, the record previously set by Steve Ballmer for purchasing an NBA team when he bought the Los Angeles Clippers in 2014. The Rockets were purchased by Alexander in 1993 for $85 million.

“Leslie Alexander is now 73 years old,” writes Forbes’ Patrick Rishe. “He purchased the team in 1993 for $85 million, won 2 NBA titles in his first 2 seasons of ownership, and the franchise is currently valued by Forbes at $1.65 billion…more than 18 times the value of the initial purchase. Job well done, Leslie.” Beyoncé’s net worth is projected to be close to $450 million.