Rockets owner Tilman Fertitta not advancing bid for NFL’s Commanders

Earlier this year, reports emerged that Houston Rockets owner Tilman Fertitta was among several potential buyers of the NFL’s Washington Commanders. But it doesn’t appear likely to lead to a deal, with Fertitta standing by his original $5.6-billion offer while others have reportedly jumped to the $6-billion range.

One of those $6-billion bids is said to be an ownership consortium led by Josh Harris, a rival NBA owner with the Philadelphia 76ers.

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As transcribed by Nicki Jhabvala of the Washington Post, Fertitta told CNBC why he didn’t advance in the bidding process:

I’ll be flat-out honest. I made a bid on the Washington Commanders for $5.6 billion. That’s the value that Forbes had them at, and at some point, you’ve got to draw a line in the sand on everything, and that’s where we are. If they can get somebody to pay them more than that, good luck to them. That’s all I can say. I own a franchise, so I love them selling for a lot. But at some point, I don’t think $6 billion is the right number.

Everybody that’s watched me do business for the last 40 years knows when I draw a line in the sand, I’m done. So, I’m here, you know I can close, and that’s the way it is.

In addition to owning the Rockets, Fertitta is chairman and CEO of the Landry’s Inc. hospitality group, and he is also chairman of the board of regents for the University of Houston system.

The Rockets have a busy 2023 offseason coming up with a head coaching search already underway and NBA-leading salary cap flexibility of approximately $60 million. Thus, Fertitta should have his attention fairly occupied over the coming weeks.