NBA PLAYOFFS / UPDATE : CLIPPERS : Rockets to Be Sold After Playoffs

Houston Rocket owner Charlie Thomas announced Friday he had signed a contract to sell the NBA team to a Florida businessman for an undisclosed amount.

The deal, reported to be worth about $80 million, will not be completed until after the Rockets are finished in the playoffs, the team said in a news release.

Les Alexander, of Boca Raton, Fla., and Dallas businessman Bill Esping had reportedly made an offer for the franchise and paid the required $100,000 non-refundable deposit.