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Sale of Dynamo to Les Alexander falls through

From the weekend:

Anschutz Entertainment Group has turned down Rockets owner Leslie Alexander’s offer to purchase the Houston Dynamo and the 30-year lease on BBVA Compass Stadium, effectively ending any further negotiations between the sides.

“Ownership evaluated the offer,” Dynamo president Chris Canetti said. “At the end of the day, they determined that they’re not prepared to accept the offer, thus meaning they will continue in their ownership.”

“(AEG) reiterated the commitment to the team and the stadium and the belief in both properties and are committed to both entities.”

For more than a month, Alexander had been in the final stages of negotiations to purchase the Dynamo and secure the 30-year lease and development agreement on new BBVA Compass Stadium, which opened in May.

As recently as two weeks ago, Rockets CEO Tad Brown expressed optimism about completing the deal.

Not sure what happened, because it sure sounded like a done deal when it was first reported. Too bad, I thought Alexander would have been a fine owner for them. I guess they’ll keep looking. Surely there’s some other rich dude in Houston who would like to own a professional sports team.

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One Comment

  1. landslide says:

    “Surely there‚Äôs some other rich dude in Houston who would like to own a professional sports team.”

    Please, God, not that Hilton Furniture guy again.

    http://www.youtube.com/watch?v=dIo9P29lvbs