Beyonce interested in buying a stake in Houston Rockets - report

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The star's husband JAY-Z previously served as a minority stakeholder in his hometown Brooklyn Nets.
New mum Beyonce is reportedly keen to become a part-owner of the Houston Rockets basketball team in her native Texas.
Owner Les Alexander placed the franchise up for sale last month (Jul17), 24 years after he purchased the Rockets back in 1993 for $85 million (£64 million), and the Formation hitmaker has emerged as one of the interested parties, according to Bloomberg.com.
The team is said to be valued at $1.65 billion, but the price tag could sail past $2 billion thanks to its growing popularity in China.
Representatives for Beyonce and the Rockets have yet to comment on the claims, but if the superstar does become a stakeholder in the Rockets, she won't have to look far for advice - her husband JAY-Z was previously a minority owner of the Brooklyn Nets, which he helped to rebrand from the New Jersey Nets as it settled into its new home at New York's Barclays Center in 2012.
However, the rap mogul had to step down as investor and sell off his shares in the Nets in 2013 due to a conflict of interest as he launched a new sports division for his Roc Nation management firm. The rules for the National Basketball Association (NBA) state that no one associated with a player representation company can hold ownership in an NBA team.
At the time, JAY-Z, who even helped to design the team's revamped black and white uniform, admitted the decision to quit was a difficult one, but he would always have an allegiance to the Nets.
"Being a member of the Nets organization surpassed some of my greatest ambitions," he wrote in a statement announcing the news. "It was never about an investment; it was about the NETS and Brooklyn. My job as an owner is over but as a fan it has just begun. I'm a Brooklyn Net forever... A thank you and deepest appreciation goes to the fans. You are the lifeblood of any team..."
© Cover Media
Belfast Telegraph Digital

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