Tilman Fertitta: Rockets Have Avoided Layoffs, Pay Cuts During Coronavirus Crisis

Rockets owner Tilman Fertitta hasn't exactly shied away from the spotlight during the NBA's coronavirus suspension, discussing furloughs at his casinos and restaurants while also working on Texas Gov. Gregg Abbott's 'Strike Force to Open Texas.' But despite the financial hit Fertitta has taken in recent months, he appears confident in the Rockets' economic outlook moving forward.

“The Rockets have no problem,” Fertitta told The Athletic's Sam Amick on Friday. “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.”

Numerous NBA teams have taken measures to stem their losses during the COVID-19 crisis. The Jazz laid off employees on April 3, and the 76ers floated the idea of pay cuts before facing public backlash. Fertitta said the Rockets have yet to lay off any workers during the pandemic.

"Absolutely not one,” Fertitta told Amick. “We’ve had no pay cuts. We didn’t apply for any funds within the Rockets, governmental or anything.”

Fertitta is the Rockets' sole owner, and he borrowed $300 million in March–albeit at a 13% interest rate–in order to keep his liquidity during the coronavirus crisis. And Fertitta isn't looking for partners in the Rockets' ownership group anytime soon.

“The Rockets would never be sold, unless the whole world came to an end and then it wouldn’t matter," 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."

Fertitta bought the Rockets for $2.2 billion in September 2017. Houston has reached the postseason in back-to-back years under Fertitta's ownership, and the Rockets currently sit No. 6 in the Western Conference at 40–24. James Harden and Co. are slated to face the Nuggets in the first round of the Western Conference playoffs if the 2019-20 season resumes.