Houston businessman sells interest in team to comply with rules

HOUSTON -- A Houston entrepreneur said he has sold his interest in the Houston Texans to comply with an NFL rule prohibiting team owners from having a gambling-related business.

Tilman Fertitta, owner of Landry's, a hospitality, gaming, restaurant and entertainment company, told Houston television station KRIV on Friday that he sold his undisclosed interest in the team. Fertitta bought the Golden Nugget Casino in Las Vegas three years ago.

"It's one of those things that happens in business," Fertitta said. "I think it's a ridiculous rule, but I don't make the rules always."

Texans owner Bob McNair said he was disappointed.

"He wanted to remain a partner and I wanted him to remain a partner, but it was really out of our hands," McNair said.

On Friday, the Texans' ownership group absorbed Fertitta's interest in the team.

Neither Fertitta nor McNair would disclose the percentage Fertitta owned or the purchase price.