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Restaurant and casino owner Tilman Fertitta has agreed to buy the Houston Rockets from Leslie Alexander.

Terms were not released and must be approved by the NBA Board of Governors, but several reports indicate the sale price was $2.2 billion. The deal includes Clutch City Sports and Entertainment, which puts on shows and concerts at the Toyota Center.

Fertitta will be the team's sole owner, calling this a "lifelong dream come true." He is the owner of the Landry's restaurant chain and Golden Nugget casino and hotels.

"Leslie Alexander has been one of the best owners in all of sports, and I thank him immensely for this opportunity," Fertitta said. "He has the heart of a champion. Lastly, out of respect for the NBA's approval process, I can say no more other than I am overwhelmed with emotion to have this opportunity in my beloved city of Houston."

Alexander bought the team in 1993 and announced it was for sale in July.

"I am excited to welcome and pass the torch to Tilman," Alexander said in a statement. "He is a Houstonian, business leader and committed to the success and excellence of the Rockets both on and off the basketball court. I have personally known Tilman for over 24 years and don't think I could have found anyone more capable of continuing the winning tradition of our Houston Rockets."