The Houston Rockets have been sold to restaurant and casino owner Tilman Fertitta for a record $2.2 billion USD. The deal surpasses the Steve Ballmer purchase of the Los Angeles Clippers for $2 billion USD in 2014. The deal includes Clutch City Sports and Entertainment, which puts on shows and concerts at the Toyota Center.

“I am truly honored to have been chosen as the next owner of the Houston Rockets,” Fertitta said in a press release. “This is a life-long dream come true. Leslie Alexander has been one of the best owners in all of sports, and I thank him immensely for this opportunity. He has the heart of a champion.”

Alexander bought the team in 1993 for $85 million and announced it was for sale in July. He says he has known Fertitta for more than two decades and couldn’t have found “anyone more capable of continuing the winning tradition of our Houston Rockets.”