Yes, that Beyonce.
We already knew that the Rockets are getting interest from an almost comically large number of investors; CEO Tad Brown, who’s leading the sales team, said he’s getting 15-20 inquiries a day. It’s almost a certainty that the Rockets will sell for an NBA record-breaking sum upwards of $2 billion. And the prophet Max Croes already put Beyonce as one of six possible Houston-affiliated Rockets buyers a day after Brown’s surprise press conference.
Max is a sage and damn fine blogger, but a deeply sourced sports business reporter he is not. Scott Soshnick, who reported the Beyonce story for Bloomberg, is one of the top guys reporting on the business side of sports in the country. So if he’s reporting it from multiple sources, it’s legit.
So what do we make of it? Beyonce is worth $350 million, according to Forbes (her combined fortune with Jay Z is north of $1 billion, FYI), so she’d obviously be in the position as a tiny little minority owner.
But such a connection is meaningful: her husband managed to squeeze outside influence out of his half-percent ownership stake in the Nets — their colors are black and white because of him — before parlaying that into a lucrative sports agency. Justin Timberlake owns a chunk of the Grizzlies and... well it’s not clear how much influence he has, but you have to think he’s helped the team’s karma since they make the playoffs every year despite a never-ending string of injuries.
The Rockets are already the No. 1 team in China, but a Beyonce ownership could help to make them the No. 1 team in Houston, particularly among teenage girls, millennial women and frankly everyone because she is awesome. They could use something to goose the home fan interest, because even a 55-win team last year didn’t get them past 21st in attendance in the NBA. It’s purely speculation, but you have to think the idea of Beyonce attending multiple home games could spawn some ticket speculation.
Most importantly, the Rockets are questing after their third championship, and they might have their best shot in the new owner’s first season, just like they did in 1994 for Leslie Alexander. And if any owner in the sweepstakes knows how to put a ring on it, it’s Beyonce.