He's wanted to buy the Rockets for awhile and was one of the finalists the last time the franchise was up for sale; lost out to Les Alexander by $4M (back when that was a large amount of money in these sorts of things). I imagine he'll get the team this time around, especially if he can pull together a good group to surround him. Saw that Mattress Mack was also looking into owning the Rockets as well, but I don't think he'd be able to be the lead so Fertitta may pull him in. Good for the city of Houston in that there would be no chance that the Rockets would leave, not that there really is one.
Really does become a question as to what he wants to keep doing. He seems to like having his hands in a ton of different things, but the Rockets would probably take up a lot of his time initially. I could see him handing the BOR chair off to someone else, someone he trusts since he's got Gov Abbott's ear. Or, he may just try to do it all and stay on the BOR chair. I think you bring up a good point though, does Khator stick around if Fertitta leaves? I think she does, she really likes it at Houston.
Will there be benefits to Fertitta being the owner for the Coogs? Could be as Fertitta would have an even larger profile in the city/state/nation and I doubt he'd want to see his time with the Coogs go to waste. He didn't exactly like when Landry's fell on hard times after he left them for awhile. Based on his comments towards McRaven and UT in regards to UT-Houston and his comments after being snubbed for the Big12 meeting, he seems to be all-in for getting UH into a Power 5. Again, his name will be on the basketball arena so he'll still play a part even if he steps down as head of the BOR. In the immediate short term, if the sale goes through fairly quickly, maybe there would be a discount for basketball games in the Toyota Center? Hell, maybe we'll stop seeing UT/A&M games at the Toyota Center unless they play UH or maybe he'll bring a Houston College tourney to the Toyota center. All would be great for the program.
Definitely something to follow.