Apr 6, 2014, 9:30 PM EDT
The Milwaukee Bucks may be nearing a sale of the team, but another Eastern Conference franchise chose to speak publicly to squash any rumors that their club may be similarly up for grabs.
The Orlando Magic have come up in rumors over the past year or so, with some believing that the 88-year old Rich DeVos would be interested in cashing in. But the family made it clear that at this point, there is no interest in selling.
The DeVos family, which owns the Orlando Magic, has no plans or desire to sell the franchise, the team’s chairman, Dan DeVos, told the Orlando Sentinel on Sunday.
“As a family, the topic of selling the team has not come up,” DeVos wrote in an e-mail message. “In fact, we are enjoying the team more than ever. Especially my father. We are very excited about our focus on winning a NBA championship. The family is fully engaged and active with the team. All four generations.
“The Magic are not for sale.”
Even if the family’s patriarch is getting up there in age, there’s little reason that anyone with ownership in an NBA franchise should be looking to sell.
Not only are franchise values at an all-time high, with even a team like Milwaukee expected to go for north of half a million dollars, but there’s a new television rights deal on the horizon that will make every team in the league that much richer.
NBA franchises have done nothing but increase in value over time, so even if some teams can’t find a way to turn a profit (as was claimed in the latest collective bargaining agreement negotiations), it’s worth holding onto them as assets that continue to appreciate.
- Rumor: Paul Pierce might opt out of contract with Wizards, join Clippers 9
- Golden State Warriors vs. Houston Rockets Game 4: Three things to watch from Houston 6
- LeBron James posts triple-double, Al Horford ejected as Cavaliers take 3-0 series lead with OT Game 3 win over Hawks 28
- Kyrie Irving out for Game 3 for Cavaliers with knee tendonitis 3
- Lil B says James Harden is officially under the Based God’s curse 30
- Warriors don’t live by 3, die by 3. They live by defense, live by defense 9
- Stephen Curry drops 40, Warriors rout Rockets by 35 to take 3-0 series lead 27
- Hawks Kyle Korver out for remainder of playoffs with high ankle sprain 17