Owner Alexander putting Rockets up for sale

Owner Leslie Alexander is putting the Houston Rockets up for sale after 24 years of ownership.

Alexander bought the team in 1993 for $85 million. Forbes values the franchise at $1.65 billion -- good for eighth in the league -- with revenues of $244 million.

"I've made this decision after much deliberation with my family and friends, and do so knowing the franchise is in great shape with the players, coaches and management team in place," Alexander said in a statement.