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Beyoncé reportedly loses bid to buy Houston Rockets

The team will be purchased by another Texas billionaire.

Artist // Instagram

Beyoncé's plans of owning a professional sports team have been put on hold, as the award-winning singer has reportedly lost her bid to buy the Houston Rockets.

ESPN reports that Tilman Fertitta - billionaire restaurateur, and star of the CNBC reality show Billion Dollar Buyer - will buy the team for $2.2 billion, the record selling price for an NBA franchise. The sale is still pending approval the NBA's Board of Governors.

Earlier reports in August said that Beyoncé was part of an investment group that planned to buy the team. The singer still has love for her hometown team though, as she was spotted wearing a Rockets jersey at Made In America over the weekend.

Queen Bey is considering becoming a part owner of the team.

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