The iconic R&B star and household name Beyonce Knowles may be considering buying a stake in the Houston Rockets NBA franchise. The Houston, Texas native is reportedly looking to snatch up the franchise now that current owner Les Alexander has decided to sell. The reports that allege Beyonce is looking to buy originated from Bloomberg, but neither the Rockets nor Beyonce’s team have commented on the allegations.
In 1993 Alexander purchased the team for $85 million. Now, thanks in large part to the popularity of the team in China (thanks to Yao Ming), reports estimate it could bring in $2 billion. There are several prospective buyers from around the globe.
Sport team ownership isn’t something new to the family – Jay-Z was part of a group that purchased the Brooklyn Nets, but he had to give up ownership in 2013. The stated reason was that with the expansion of Roc Nation Sports, he wouldn’t be able to maintain ownership of the team due to NBA regulations.
According to HipHopDX,
“Being a member of the Nets organization surpassed some of my greatest ambitions,” JAY-Z wrote in a letter posted to his Life + Times website. Later in the letter, he explained why he gave up ownership. “For Roc Nation Sports to function at its full potential, NBA rules stipulate that I relinquish my ownership in the Brooklyn Nets. It was a tough decision but as I stated earlier, it’s not about ownership,” he said.