Rockets command record payload of $2.2 billion

HOUSTON - The Houston Rockets have been bought by US restaurant tycoon Tilman Fertitta in a record $2.2 billion deal, the highest price ever paid for an NBA franchise.

Fertitta, a Houston-based billionaire, was one of several potential buyers circling the Rockets, who had been put up for sale by owner Leslie Alexander.

"I am truly honored to have been chosen as the next owner of the Houston Rockets," Fertitta said in a Tuesday release from the team.