Tilman Fertitta has agreed to buy the Houston Rockets for $2.2 billion.

The Houston native and owner of several restaurant chains was one of several people to make a bid for the NBA franchise, which was valued at $1.65 billion. The

acquisition marks the completion of a lifelong dream for Fertitta.

He first tried to buy the Houston Rockets in 1993 for $81 million, but current owner Leslie Alexander outbid him as he acquired the team for $85 million. The Rockets went on to win back-to-back NBA titles in 1994 and 1995.

Alexander expressed his joy in being able to pass the Rockets over to Fertitta, who has sat on the Rockets’ arena floor to watch the team for years. “I have personally known Tilman for over 24 years and don’t think I could have found anyone more capable of continuing the winning tradition of our Houston Rockets,” said Alexander.

Fertitta also issued a statement on the matter, expressing how happy he is to be able to run the franchise for years to come. “Out of respect for the NBA’s approval process, I can say no more other than I am overwhelmed with emotion to have this opportunity in my beloved city of Houston.”

The Rockets have a bright future with franchise player James Harden playing at the peak of his powers in recent years, while the addition of Chris Paul makes the team a true contender for the NBA title.