Tilman Fertitta Rumors | Hoops Rumors

Rockets Owner Believed Chris Paul’s Contract Was The Worst He’d Ever Seen

October 17th, 2020 at 4:15pm CST by Arthur Hill

Last summer’s trade that sent Chris Paul to the Thunder for Russell Westbrook was driven by the dismay Rockets owner Tilman Fertitta had over Paul’s contract, ESPN’s Tim MacMahon said on the latest edition of The Lowe Post podcast.

Reflecting on Daryl Morey’s tenure in Houston, MacMahon said Fertitta and James Harden were more insistent on the deal than the team’s former general manager. Harden had clashed with Paul during their final season as teammates, and Fertitta believed Paul’s contract “was the worst that he’d ever seen in business or sports,” according to MacMahon.

MacMahon emphasizes that Morey didn’t openly object to making the trade, but was compelled to act because of the wishes of his “two bosses,” Fertitta and Harden. He adds that many people in the Rockets’ organization believe the relationship between Paul and Harden could have been salvaged if Westbrook hadn’t been available.

Paul, 35, still has two seasons left on the four-year, $160MM contract the Rockets gave him in the summer of 2018. He played just one season in Houston after signing the deal, as the team shipped him and a parcel of draft picks to Oklahoma City in exchange for Westbrook.

Paul was outstanding in leading the Thunder to the playoffs in what many considered to be a rebuilding year, but his age and contract make him a candidate to be traded again before the start of next season.

Rockets Notes: Morey, Fertitta, D’Antoni, Coaching Job

September 15th, 2020 at 4:10pm CST by Dana Gauruder

General manager Daryl Morey’s job is safe and Rockets owner Tilman Fertitta declared that Morey and the basketball operations department will conduct the search for a new head coach, according to Jonathan Feigen of the Houston Chronicle.

Fertitta, who made his comments on CNBC, said he will merely sign off on the recommendation made by Morey and his staff.

“It begins and ends with the general manager,” Fertitta said. “You can talk to me all day long. I personally wouldn’t know what coach to hire. That’s why you have a basketball operations team that’s made of a half a dozen people that use all kinds of analytics and experience.”

Mike D’Antoni‘s decision to leave Houston was made public on Sunday.

We have more on the Rockets:

Fertitta’s lack of communication with D’Antoni after the Rockets were eliminated by the Lakers led to the coach’s decision to depart, Kelly Iko and Sam Amick of The Athletic report. D’Antoni spoke with Morey and everyone on the team prior to the flight back to Houston on Sunday. D’Antoni expected a phone call from ownership regarding the season and its future plans for him but that didn’t come. Prior to boarding the plane, D’Antoni decided he would leave the franchise and test the open market.
Expectations will remain high for the Rockets and that’s one factor for potential head coaching candidates to consider, Feigen opines. The Rockets’ core players are on the wrong side of 30 and their window is closing. If the franchises decides to rebuild after Russell Westbrook and James Harden finish out their contracts, the Rockets don’t possess many assets, Feigen adds.
Jeff Green isn’t thinking about retiring, though as a free agent it’s uncertain whether he’ll be back in Houston. Get the details here.

Rockets Notes: Fertitta, House, Carmelo, Westbrook

August 8th, 2020 at 5:38pm CST by Arthur Hill

Rockets owner Tilman Fertitta doesn’t have a reputation as a free spender, but he promises money won’t stand in the way of bringing a championship to Houston, writes Jerome Solomon of The Houston Chronicle. The Rockets made moves at the trade deadline the past two years to escape the luxury tax, including a four-team deal this season that unloaded Clint Capela and brought in Robert Covington. However, Fertitta insists the tax isn’t the team’s top consideration.

“We don’t make basketball decisions of two or three million dollars based on the luxury tax,” Fertitta said. “Our whole budget this year was to be in the luxury tax.”

General manager Daryl Morey says Fertitta hasn’t ordered him to stay under the tax threshold, and the team will almost certainly exceed it next season with Russell Westbrook and James Harden each earning more than $41MM. With two former MVPs in the backcourt, Fertitta vows to spend whatever it takes to win a title.

“We want to be champions,” he said. “You win a championship, it’s probably worth $30-50 million dollars the following year to you from sponsorships, and people wanting to buy tickets and everything else. So you want to spend the money to win a championship.”

There more Rockets news to pass along:

Danuel House is taking advantage of his opportunity in Orlando and once again looks like the perfect small forward for the Rockets’ system, observes Rahat Huq of Forbes. Eric Gordon was supposed to move into the starting lineup after the hiatus, but a sprained ankle has prevented him from playing. Huq notes that an improvement on defense has made House more viable as a starter.
Carmelo Anthony‘s success in Portland has raised questions about whether the Rockets gave up on him too quickly last season, but it was an arrangement that was never going to work, contends Brian T. Smith of The Houston Chronicle. Smith argues that Anthony wasn’t willing to adapt his game and was an awkward fit with Harden, Chris Paul and coach Mike D’Antoni.
Westbrook and Gordon are both improving physically, but they have been ruled out for Sunday’s game against the Kings, tweets Jonathan Feigen of The Houston Chronicle. Bruno Caboclo, who is suffering from an ankle injury, won’t play either.
In case you missed it, Harden has been named as a finalist for MVP honors.

Financial Effects Of Pandemic Likely To Impact NBA Offseason

July 27th, 2020 at 3:55pm CST by Luke Adams

A number of team owners around the NBA are feeling the financial effects of the coronavirus pandemic, as Brian Windhorst of ESPN.com writes. Rockets owner Tilman Fertitta, for instance, has seen business fall off precipitously at his restaurants, hotels, and casinos, while Heat owner Micky Arison has had to temporarily shut down his Carnival Cruise Lines.

While some team owners have been hit harder than others by the effects of COVID-19, there’s an expectation that the pandemic will have a league-wide impact on spending this offseason, as Windhorst writes. Some teams may have to make difficult financial decisions that could result in unexpected player movement.

“With few exceptions, no one wants to make long-term commitments right now,” one general manager told ESPN. “You can already feel it coming.”

In addition to the teams that may feel pressure to dump pricey contracts or avoid expensive free agent commitments, some clubs may face financial constraints in the draft. Although selling second-round draft picks remains fairly common, no NBA team has sold a first-round pick since the Nuggets did so with the No. 27 selection in the 2013 draft, according to Windhorst. Some people around the league believe that teams will consider the possibility again in 2020.

“I suspect first-round picks will be for sale in this draft,” a team executive said. “We haven’t really seen that in a decade.”

Here are a few more noteworthy details and quotes from Windhorst’s examination of NBA teams’ finances:

Warriors owner Joe Lacob has told his fellow owners that he’s exploring a deal with Goldman Sachs to raise up to $250MM to manage expenses, per Windhorst. Sources tell ESPN that other team owners are considering ways to raise capital as well, with some – including the Rockets – pursuing legal action against companies that have denied coronavirus-related insurance claims.
Rockets owner Tilman Fertitta recently took out a $300MM loan and is more leveraged than many other owners, since he purchased the franchise fairly recently, but he continues to insist he’s not looking to sell any shares in the team. Brokers who have approached him representing potential bidders have been told the same, reports Windhorst.
Nets owner Joseph Tsai recently sold about 25% of his shares in tech company Alibaba, according to Windhorst. Other owners might not have similar opportunities to raise capital. “I don’t know what will happen, but I may lose $50MM next season,” one owner told Windhorst. “If that happens, I have three options: I could borrow the money, I could sell part of the team or I could do a cash call and me and my partners would have to write checks.”
NBA rules allow team owners to borrow $325MM against the equity in their franchises. A majority of NBA teams – including the Warriors – have maxed out that credit, sources tell Windhorst.
Although the Buss family’s pockets aren’t as deep as some of their fellow owners, the Lakers bring in about $200MM annually from their local TV deal and aren’t expected to have any issues re-signing Anthony Davis, writes Windhorst.

Western Notes: Murray, Doncic, Lakers, Fertitta

June 7th, 2020 at 5:55pm CST by JD Shaw

Nuggets guard Jamal Murray is confident the team can win the NBA championship this season, explaining his thoughts to reporters on a Zoom call last week.

“We know we can go win the title,” Murray said, according to ESPN’s Ohm Youngmisuk. “Me and Joker (Nikola Jokic) have been in Denver this whole time, working out.

“Why not?” Murray later replied upon being asked whether Denver could win it all. “We have proven to be one the best teams year in and year out since we have been building. We have beaten good teams consistently. We shouldn’t have lost to Portland (last year in the Western Semifinals). That was more on us, our inexperience and they are a good team. But we don’t think that there is a team that can beat us in a seven-game series when we are playing at our best.”

The Nuggets are 43-22 on the season, good for the third-best record in the Western Conference behind the Lakers (49-14) and Clippers (44-20). Murray’s confidence lies in the team’s offensive capabilities, coupled with how Jokic has slimmed down significantly during quarantine.

“If we can just find that consistency and play at a high level,” Murray said of the Nuggets’ biggest issue. “When me and Joker are on, I don’t think there is anybody that is going to stop us. And if they do, then good game.”

Denver has consistently been one of the NBA’s best regular-season teams in recent seasons, though the franchise has failed to achieve playoff success. The Nuggets will be among the 22 teams slated to play in Orlando when the league resumes later this summer.

There’s more from the Western Conference tonight:

Barring a new setback or injury, Mavericks star Luka Doncic will be healthy for the NBA’s restart, Callie Caplan of the Dallas Morning News writes. Doncic has dealt with a sprained ankle, an illness and various thumb and wrist injuries in 2020. Caplan also examines other Mavs-related notes, including the team’s starting lineup and who could be a potential X-factor in the playoffs.
The Lakers will be ready to build on their previous hot streak once the NBA returns, Broderick Turner of the Los Angeles Times writes. Los Angeles was firing on all cylinders before the season was suspended, winning 11 of their its 13 games and holding a 49-14 record. “There will be a lot of focus for the Lakers and all the teams on basketball only, with the family not being there right away,” an official for one NBA team told Turner. “I think that they will be really in-tuned. I think the basketball will be sloppy in the beginning, but it’ll be good as it goes along.”
Rockets owner Tilman Fertitta discussed a number of subjects in an interview with Jonathan Feigen of the Houston Chronicle, including his team’s title hopes, the NBA return, and more. Houston is among the 22 teams set to return in Orlando this summer, playing an unprecedented version of small-ball before the season was officially halted.

Fertitta Confirms He Has No Interest In Selling Shares Of Rockets

May 1st, 2020 at 10:13am CST by Luke Adams

Reports over the last couple months have suggested that Rockets owner Tilman Fertitta has been one of the NBA team owners hit hardest by the coronavirus pandemic. Many of Fertitta’s hundreds of businesses are restaurants, casinos, and entertainment destinations that have been closed since stay-at-home orders began.

However, speaking to Sam Amick of The Athletic, Fertitta insisted that any concerns about his financial situation have been overstated.

“I have cash flow to last me a long, long time with no restaurants opening. But yet, by this weekend, I’m going to have over 200 (restaurants) open and almost all my hotels open,” Fertitta said, referring to Texas’ stay-at-home mandate being lifted. “Different people are in different situations, and what people don’t understand is I have more buckets than most.”

A report last month indicated that Fertitta has no interest in gaining additional liquidity by selling any portion of the Rockets and taking on minority stakeholders. The Rockets’ owner confirmed as much in his conversation with Amick, stressing that he’s also not entertaining the idea of selling the franchise outright.

“The Rockets would never be sold, unless the whole world came to an end and then it wouldn’t matter, OK?” Fertitta said. “If I ever sell the Rockets, it’s because we don’t exist anymore as a country with the rule of law. We’re having anarchy in the street, and at that point there’s no buyers.

“… I don’t need partners so I don’t have partners,” he added. “There’s just no interest in having partners. I think all owners would love not to have partners, but not all teams financially can do that. I have the opportunity that me and my family can own this team 100%, and there’s no reason to ever change that.”

Davide Scigliuzzo of Bloomberg reported last month that Fertitta’s companies had furloughed more than half of their employees. However, while his other businesses and their workers were impacted significantly by the coronavirus pandemic, Fertitta tells Amick that the Rockets haven’t had to lay off a single employee or force anyone to take a pay cut, even after Daryl Morey‘s tweet supporting Hong Kong protestors in the fall cost the franchise significant sponsorship money in China.

“The Rockets have no problem,” Fertitta said. “The Rockets are sitting on a huge revolver and a bunch of cash right now. And the Rockets are able to build up cash because nobody has to take it out to live on.”

Southwest Notes: Mills, Fertitta, Grizzlies

March 31st, 2020 at 4:01pm CST by Luke Adams

Although the Spurs were having a disappointing season before the NBA’s hiatus began, Patty Mills was enjoying one of the best years of his career, averaging a career-high 11.7 PPG. Mills, who will be entering the final season of his four-year, $50MM contract in 2020/21, has been “worth every penny” of that deal due to his play on the court and his locker-room contributions, in the view of Jeff McDonald of The San Antonio Express-News.

As McDonald writes, Mills’ future beyond next season remains unknown, but no player on the current roster embodies the “Spurs Way” like Mills, so the club will be glad to keep him around at least through the end of his deal.

Rockets owner Tilman Fertitta has been “absolutely devastated” financially over the last several months, ESPN’s Brian Windhorst said on a Hoop Collective podcast. As Windhorst explains, Fertitta is believed to have lost “tens of millions” of dollars in Chinese sponsorships as a result of the Daryl Morey controversy in the fall, and his hotel and casino businesses have been shut down as a result of the coronavirus. Windhorst notes that it’ll be interesting to see how the Rockets handle their payroll going forward, considering they’ve already been tax-averse since Fertitta’s arrival.
In a Q&A with Michael Wallace of Grizzlies.com, Grizzlies president Jason Wexler spoke about how his role and responsibilities have changed during the NBA’s hiatus, how the team’s employees have been impacted, and his thoughts on an impressive season from his young team.
Justise Winslow‘s Memphis debut and Marc Gasol‘s return to the FedExForum are two of the notable Grizzlies-related events that may no longer happen in 2019/20, with the rest of the season up in the air, writes Evan Barnes of The Memphis Commercial Appeal.

Rockets’ Owner Unwilling To Sell Minority Shares?

March 26th, 2020 at 12:11pm CST by Luke Adams

Tilman Fertitta, the sole owner of the Rockets, won’t consider minority partners “as a matter of pride,” tweets ESPN’s Tim MacMahon.

MacMahon’s note on the Rockets owner comes at a time when Fertitta’s companies have furloughed approximately 70% of their employees, according to Davide Scigliuzzo of Bloomberg. Fertitta, who owns a series of casinos, hotels, and restaurants, said he has had to temporarily lay off approximately 40,000 employees as a result of coronavirus-related shutdowns.

Indicating that he wants to “hire every employee back,” Fertitta expressed confidence that his businesses will survive and even talked about possibly buying back some of the Golden Nugget’s debts when things turn around, per Bloomberg’s report.

Fertitta, who is hoping that restaurants and casinos will soon be permitted to operate at least at partial capacity, said he has been talking to banks about raising as much as $200MM in additional liquidity “as a little bit of insurance,” Scigliuzzo writes.

Selling off part of the Rockets to one or more minority stakeholders at any time since he assumed control of the team in 2017 would have helped provide Fertitta with additional liquidity, but he has long been averse to the idea. In October 2017, shortly after he took the reins in Houston, he indicated he might make an exception for pop star Beyoncé, who had previously considered an investment in the franchise. Otherwise though, he said, “I prefer to own 100 percent.”

Fertitta, who has appeared reluctant to pay the luxury tax since taking over as the Rockets’ owner, figures to be hit particularly hard by the NBA’s loss of revenue this season. Houston was believed to be the team with the most partnerships in China prior to Daryl Morey‘s tweet in support of protestors in Hong Kong, which reportedly cost the team many of those business ties.

Rockets Owner Talks Playoffs, Westbrook, Small-Ball

February 25th, 2020 at 1:04pm CST by Luke Adams

After averaging nearly 58 wins over the past three seasons, Houston is on a slightly more modest 53-win pace in 2019/20. However, after winning eight of their last 10 games, the Rockets are once again in position to claim home-court advantage in the first round of the postseason, having moved up to No. 4 in the Western Conference.

That recent strong play – along with the success of a new-look lineup that leans heavier than ever on small-ball – has Rockets owner Tilman Fertitta expressing confidence about the club’s outlook going forward. Speaking to Kirk Bohls of The Austin American-Statesman, Fertitta said he thinks the Rockets could be the No. 2 seed if not for a handful of hard-luck losses, adding that he’s “not worried about anybody in the West.”

As Fertitta explained, that doesn’t necessarily mean he’s counting on the Rockets to make it to the NBA Finals, but he’s confident that the team is capable of beating any Western club in a seven-game series.

“I think Milwaukee is head over heels above everybody else,” Fertitta said. “We just need to get home court for the first and second rounds and see what happens.”

Here are a few more of Fertitta’s thoughts on how the Rockets stack up in the West, the blockbuster trade the team made last summer, and the extreme small-ball look:

On the Western Conference playoff picture:

“None of us fear L.A. (the Lakers) or the Clippers or Denver like we feared Golden State. It’s not like how we were scared of them. We could easily win the West this year or get knocked out in the first round. Both L.A. teams, Denver, Houston, we’re all excellent teams. Just comes down to somebody gets hot and makes a shot. Our chances are as good as they’ve ever been.”

On the Chris Paul/Russell Westbrook trade, and why Westbrook is a better match for James Harden:

“Everything worked out. I think Chris is having a great year at Oklahoma City. It worked out for both (teams). James and Russell came in the league at the same time, and they can talk to each other differently. One can say, ‘Screw you,’ and it’s no big deal. Chris was four years older. Four years in basketball is like a normal 10 to 15 years in business life.”

On the Rockets going all-in on small-ball:

“We basically changed out a guy who’s 6’10” to a guy who’s 6’7″, 6’8″. Are you really that much smaller? It makes the big guy for the other team go out on the perimeter. Did you see Rudy Gobert trying to keep up with Russell? Russell was running him around like crazy. It’s working.”

Rockets Tried To Trade For DeAndre Jordan

February 8th, 2020 at 6:04pm CST by Arthur Hill

The Rockets attempted to add the Nets to their four-team trade this week, hoping to acquire center DeAndre Jordan, ESPN’s Adrian Wojnarowski reveals in an Instagram video.

Brooklyn turned down the offer and elected to hold onto the veteran center, but Wojnarowski’s report indicates two things about the Rockets. The team may not have intended to fully commit to the small-ball approach it has used since trading away Clint Capela, and owner Tilman Fertitta was apparently willing to back up his statement that moves won’t be determined by the luxury tax.

Jordan makes $9.88MM this year and is signed for the next three seasons at a total cost of about $30MM. He’s coming off the bench for the Nets and averaging 7.9 points and 9.6 rebounds per night.

Because of how the trade was structured, the Rockets had the flexibility to add up to $12MM in salary before it was finalized. Fertitta gave general manager Daryl Morey the freedom to expand the deal, Wojnarowski adds, even though it would have cemented Houston as a taxpaying team.

Woj doesn’t say what the Rockets were offering the Nets in terms of players and draft picks.