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Billionaire businessman Tilman Fertitta<\/strong> will reportedly retain ownership of the Houston Rockets<\/a> if confirmed to serve in U.S. President Donald Trump’s administration. However, he plans to adopt a passive role with the thriving Western Conference squad.<\/p>\n Fertitta is awaiting confirmation to become the U.S. ambassador to Italy and San Marino. On Monday, the Houston Chronicle reported on his March 16 letter to the U.S. Office of Government Ethics. In it, Fertitta outlined how he would comply with the requirements of his new government position to avoid conflicts of interest.<\/p>\n The business mogul intends to resign as CEO of Landry’s, his restaurant and entertainment company, and several other enterprises. He will instead take on non-active positions, earning passive profits.<\/p>\n <\/p>\n <\/template><\/p>\n <\/p>\n \u2022 <\/p>\n <\/template><\/p>\n “I will continue to retain a passive interest in these entities, but I will not provide services material to the production of income,” Fertitta wrote. “Instead, I will receive only passive investment income.”<\/p><\/blockquote>\n This includes the Rockets, which Fertitta has owned since 2017. He noted that he will remain the franchise’s owner without participating in day-to-day operations that generate active income.<\/p>\n “The agency has determined that it is not necessary at this time for me to divest my interests in the Houston Rockets because my recusal from particular matters in which these interests may pose a conflict of interest will not substantially limit my ability to perform the essential duties of ambassador,” Fertitta wrote.<\/p><\/blockquote>\n If Fertitta is confirmed as ambassador, his son, Patrick, Houston’s alternate governor, is expected to handle ownership duties, given his familiarity with his father’s work.<\/p>\n Tilman Fertitta’s decision to distance himself from the Rockets comes as they have ascended the NBA standings.<\/p>\n Houston (46-26) sits second in the West and fourth in the NBA. It has already secured at least a play-in spot with 10 outings remaining, with the franchise’s last playoff berth coming in 2020.<\/p>\n The Rockets have arguably one of the NBA’s brightest young cores, featuring Alperen Sengun<\/a>, Jalen Green and Amen Thompson. With their combination of young talent and draft capital, they appear well-positioned to compete for the foreseeable future.<\/p>\n Nevertheless, it appears the organization will likely move forward without Fertitta at the helm of its financial decisions.<\/p>\n Also Read: <\/strong>Sabrina Ionescu approves as $40,008,489 guard shows out in her signature shoes with near double-double outing<\/a><\/strong><\/p>\n![\"march](\"https:\/\/staticg.sportskeeda.com\/skm\/assets\/march-madness-logo.png\"){kind=logo}
<\/p>\n<\/div>\nTilman Fertitta preparing for background role with Rockets amid team’s breakout season<\/h2>\n