HOUSTON >> Houston Rockets owner Leslie Alexander is selling the team.

Rockets CEO Tad Brown made the announcement today, hours after he said Alexander made the decision.

Alexander took over as owner on July 30, 1993, and the Rockets went on to win back-to-back titles in 1994-95.

Brown says Alexander had been approached over the years by those looking to buy the team, but that he never considered it until very recently.

Brown says he will be working with the league office to facilitate things while they look for a new owner.

There is no set timetable for the sale, but Brown says they want to find the right buyer and won’t rush the process.