Reports: Beyoncé, Olajuwon interested in buying stake in Rockets

Houston native Beyonc� is considering investing in the Houston Rockets, according to a report from Bloomberg.

Beyoncé may soon be trying to get the Houston Rockets “in formation.”

Bloomberg reports the Houston native is considering investing in the team.

For the entire team, she'd need upwards of $2 billion after Leslie Alexander put the team up for sale in July. He paid $85 million in 1993.

Beyonce's net worth is $350 million, according to Forbes. If she teamed up with husband and fellow big shot Jay-Z, who's worth $810 million, that would get them over the billion-dollar hump, but they'd still be quite a bit short.

According to Rolling Stone, Jay-Z left the NBA ownership business after founding Roc Nation Sports. He couldn't have been in the sports agency game if he wanted to represent professional basketball players.

It's more likely Beyoncé would go after a small piece of the team (i.e., a minority ownership). More celebrities than you think have small stakes in teams. Usher invested in the Cleveland Cavaliers back in 2005. According to Vibe, Will Smith plunked down $250 million to be a majority owner of the Philadelphia 76ers, though the Washington Post reports he's just a minority owner.

Justin Timberlake has a nearly three-percent stake in the Memphis Grizzlies. Gloria Estefan, Marc Anthony, Fergie and the Williams' sisters all have invested money to be part owners of the Miami Dolphins.

Another potential investor, according to an ESPN report, is former Rocket and Hall of Famer Hakeem Olajuwon. Olajuwon told ESPN, "Many groups now have called me and want me involved. With two of the groups, I'm doing my background check to see if that is a possibility."

Olajuwon is currently an ambassador for the team, putting him under contract not to be in an ownership position, "but if the opportunity opens itself, it will be something great," he said.

© 2017 KHOU-TV


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