Tilman Fertitta and the Joseph family, current majority owners of the Rockets, made the announcement during a live press conference at the Toyota Center this morning, marking one of the most monumental developments in the franchise’s modern history.
“It is an incredible honor to welcome Hakeem Olajuwon back to the Rockets—not just as a legend of the game, but now as a partner, a leader, and a visionary co-owner,” said Tilman Fertitta, who acquired the team in 2017. “Hakeem is more than just a basketball icon—he is a symbol of excellence, integrity, and Houston pride.”
A Full-Circle Moment
Often regarded as the greatest player in Houston Rockets history—and one of the top centers to ever play the game—Hakeem “The Dream” Olajuwon played 17 of his 18 NBA seasons with the Rockets. He led the team to back-to-back NBA championships in 1994 and 1995, was named NBA MVP in 1994, and earned Finals MVP honors twice.
Now, nearly 25 years after his retirement, Olajuwon’s return to the organization marks a full-circle moment for the franchise and its fans.
“This is home. It always has been,” said Olajuwon, visibly moved as he addressed reporters. “I’ve always believed in the power of basketball to bring people together, to uplift communities, and to inspire greatness. I’m thrilled to return—not on the court this time, but in the boardroom, to help build the future of the team and the city I love.”
Details of the Ownership Deal
While financial terms were not disclosed, sources close to the organization say Olajuwon acquired a minority stake in the team after extensive discussions with the Joseph family over the past year. The ownership structure will remain under the Fertitta-Joseph family’s majority control, with Olajuwon serving as both an equity partner and strategic advisor on basketball and community initiatives.
His role will include:
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Strategic basketball input alongside the team’s front office
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Community outreach leadership, particularly focused on youth programs and international development
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Representation of the franchise in NBA governance and league meetings
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Global brand expansion, leveraging his influence in Africa and the Middle East
Reaction from the Basketball World
The news of Olajuwon’s return as co-owner has been met with celebration across the NBA community.
“Hakeem returning to the Rockets in this role is legendary,” said NBA Commissioner Adam Silver. “He has always been a role model, not only for his performance on the court, but for his character and grace off of it. This move strengthens the NBA family.”
Former teammates and NBA greats also shared their reactions:
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Clyde Drexler, Olajuwon’s teammate and fellow Hall of Famer: “This is the best thing to happen to Houston basketball in decades.”
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Shaquille O’Neal: “One of the greatest ever, now making moves off the court. Respect.”
A New Chapter for the Rockets
The timing of Olajuwon’s return couldn’t be more significant. The Rockets are currently undergoing a major rebuilding phase under head coach Ime Udoka, with a young and promising roster led by rising stars like Jalen Green, Alperen Şengün, and Jabari Smith Jr.
Bringing in a respected legend like Olajuwon is expected to have a profound cultural and motivational impact on the organization, especially among young players who grew up idolizing “The Dream.”
“Having Hakeem around is like having a walking blueprint for greatness,” said Jalen Green. “We’re blessed to learn from the best.”
Community First
Olajuwon also emphasized that his role will extend far beyond basketball. He plans to be actively involved in expanding the Rockets’ presence in underserved communities, particularly through youth outreach, education, and international basketball development.
The team announced that Olajuwon will co-lead a new initiative called “Dream Legacy: Rockets For the Future,” a philanthropic program aimed at empowering youth in Houston’s inner-city neighborhoods through sports, mentorship, and education.
What’s Next?
With Olajuwon’s co-ownership beginning in the 2025 NBA season, plans are already in motion to celebrate the momentous occasion. The Rockets organization is preparing a season-long tribute to “The Dream,” which will include:
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A special jersey patch for the 2025 season
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A commemorative night honoring Olajuwon’s career and contributions
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A “Dream Center” youth facility breaking ground in the Third Ward, where Olajuwon attended college at the University of Houston
Fans are also speculating about the potential for increased international engagement, particularly in Africa, where Olajuwon was born and remains an influential figure in the development of basketball across the continent.
Final Thoughts
Hakeem Olajuwon’s return to the Houston Rockets is more than a business deal—it’s a symbolic restoration of legacy, identity, and shared pride between a franchise and one of its greatest heroes.
As the Rockets prepare for a new era, having “The Dream” once again at the heart of the organization signals both a reverence for the past and a bold step toward the future.