Yao rules out buying Rockets, will focus on Chinese league

Yao Ming will be a Rocket for life, but he will not be purchasing the team from current owner Les Alexander.

The 7-foot-6 Hall of Famer confirmed to Xinhua News Agency on Friday that he will continue to direct his attention toward managing the Chinese Basketball Association, and will not be buying the Houston Rockets.

"I have no time to consider anything else," Yao said.

Houston drafted Yao with the first overall pick in 2002. His career was ultimately cut short by persistent foot injuries, but Yao played a key role in transforming the Rockets and the NBA from an American product into a global sensation. The league's overwhelming popularity in China can be directly traced back to Yao.

The Shanghai native is more concerned with raising the level of Chinese basketball at the moment, as he was just re-elected as the CBA president and will continue to serve in that capacity.

Alexander put the Rockets up for sale earlier this week. He purchased the franchise in 1993 for $85 million. The Rockets are now valued at roughly $1.6 billion.