Houston Rockets, Tilman Fertitta
Oct 3, 2017; Tulsa, OK, USA; Members of the Houston Rockets interlock arms during the playing of the national anthem before a game against the Oklahoma City Thunder at the BOK Center. USA TODAY Sports / Mark D. Smith

Tilman Fertitta, the new owner of the Houston Rockets, has pinned his faith on superstar guards James Harden and Chris Paul to raise the third championship banner in franchise history. Fertitta recently purchased the Rockets, nearly 24 years after his first bid to purchase the Western Conference team.

Fertitta believes that Harden and Paul can bring the city its first championship since Hakeem Olajuwon's Rockets won back-to-back championships in 1994 and 1995. "I got to a point where I said, 'Gosh, if I laid my head down on the pillow for the last time, the one thing I never got to accomplish was owning a team in my hometown. I've looked at other teams in the last few years, but it's just not the same. You just can't own a team not in your hometown, as far as I'm concerned,'" Fertitta said in a news conference on Tuesday.

In 1993, the Texas businessman lost out to a bid by Leslie Alexander when the Rockets were sold for US$85 million (AU$109 million). He recently paid a whopping US$2.2 billion (AU$2.82 billion) to purchase the former two-time champions and fulfill his lifelong dream of owning an NBA franchise. Alexander left the Rockets in good hands to Fertitta, barely a month after the team acquired Chris Paul via trade.

"I started listening to the San Diego Rockets when I was junior high school when they said they were moving to Houston, Texas, with Elvin Hayes. That's when I became a Houston Rockets fan, when they were in San Diego, so I've been on the ride from the beginning. Les kept me involved with the team. I have the two championship rings from '93 and '94, but this is a different feeling, let me just tell you guys. I feel very special that this opportunity came to me," Fertitta added.

Can Houston Rockets challenge the Warriors?

The Rockets are currently tipped as the biggest threat to derail the Golden State Warriors, the overwhelming favourites to repeat as NBA champions. Despite the looming threats of Oklahoma City Thunder and San Antonio Spurs, most analysts feel Rockets have the most offensive firepower to match-up with the Warriors.

"To walk into this situation with James Harden and Chris Paul is unbelievable. You've got to remember the name of the game is to get to the playoffs, and this is a superstar league. You are not going to get to the playoffs every year and likely make it to the second round if you don't have a James Harden playing for you. You add a guy like Chris Paul, and you should get to the Western Conference finals," the new owner of the Houston Rockets added.

James Harden, Chris Paul & Co. will begin the new era on Oct. 16. This is the day the Rockets travel to Golden State to kick off the 2017-18 NBA season.