The Houston Rockets are on the block with team CEO Tad Brown telling press that owner Les Alexander was hunting for a potential buyer. “It’s been my great joy and honor to own the Houston Rockets for the past 24 years,” Alexander said in a release. “I’ve had the incredible opportunity to witness true greatness through the players and coaches who have won championships for the city, been named to All-Star and All-NBA teams, enshrined in the Basketball Hall of Fame, and done so much for our franchise and our fans. And the Houston community has been home to me; I will continue to support the charities I have made commitments to throughout the years.” The Rockets are valued at nearly $1.65 billion, according to Forbes.

Meanwhile, NBA Commissioner Adam Silver released his own statement on the announcement: “Leslie Alexander is a true competitor who always searched for the right move to make his teams better. Under his ownership, he created a culture of excellence with strong management that attracted Hall of Famers, All-Stars and coaching giants and brought two NBA championships and four WNBA titles to Houston. Well-respected around the league, he has been an active and influential owner whose vision helped to grow the game globally, especially in China. Moreover, his philanthropy speaks just as powerfully as his ownership, with local libraries, women’s centers and homeless shelters all benefiting from his generosity.”