Photo by James Devaney
Houston native Beyoncé could soon become an owner of her hometown NBA franchise. The Lemonade singer is considering an investment in the Houston Rockets, according to Bloomberg.
Current owner Les Alexander unexpectedly put the franchise on the market last month. Purchased by Alexander for $85 million in 1993, the Rockets are now worth an estimated $1.65 billion, according to Forbes. The team’s popularity in China could push the sale price past $2 billion.
The new mother of twins wouldn’t be wading into the waters of team ownership blind. Beyoncé’s husband, JAY-Z, once owned a small stake in his hometown Brooklyn Nets. The rapper sold his share after starting the sports management division of his Roc Nation entertainment company.
If Beyoncé does end up investing in the Rockets, she would join a small group of famous women who own stakes in sports teams. Jennifer Lopez, Venus Williams, and Serena Williams are part of the investment group that owns the Miami Dolphins.
In addition to giving any ownership group a famous face and extra marketing power, Beyoncé has the financial power required to invest in a team. According to the 2017 Forbes Highest Paid Celebrities list, she raked in $105 million during the past year. Her net worth is estimated at $350 million.
At this time, the Rockets have declined to comment on the matter, while representatives for Beyoncé and JAY-Z haven’t responded to requests for comment.
