Skip to content

Orlando Magic ownership says team is not for sale

Apr 6, 2014, 9:30 PM EST

orlando magic logo court

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.

From Josh Robbins of the Orlando Sentinel:

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.

Latest Posts
  1. Sources: Kings prefer George Karl, not serious about hiring Mark Jackson

    Dec 21, 2014, 6:30 PM EST

    George Karl AP

    The very public meeting with Jackson was leverage to help get Karl to lower his asking price.

  2. Brad Stevens insists he won’t leave Celtics for a college job

    Dec 21, 2014, 5:00 PM EST

    Brad Stevens Brad Stevens

    Stevens dismisses rumors of Indiana University.

  3. Iman Shumpert won’t require surgery for dislocated shoulder

    Dec 21, 2014, 3:30 PM EST

    Iman Shumpert Iman Shumpert

    The Knicks guard will be reevaluated in two weeks.

  4. Larry Sanders opens up about disastrous 2013-14 season

    Dec 21, 2014, 12:30 PM EST

    Larry Sanders Larry Sanders

    Everything went wrong for Sanders and the Bucks last year.

  5. Report: Lance Stephenson has clashed with Hornets teammates

    Dec 21, 2014, 11:00 AM EST

    Chicago Bulls v Charlotte Hornets Getty Images

    Why else would trade rumors surface 20 games or so into his first season in Charlotte?

  6. Blake Griffin with dagger tip-in to lift Clippers past Bucks (VIDEO)

    Dec 21, 2014, 8:00 AM EST

    Blake Griffin, Giannis Antetokounmpo, Chris Paul AP

    The Bucks went heavy with Brandon Knight at the end of the game. That went about as well as you’d expect.

  7. Rajon Rondo’s career highlights with the Celtics (VIDEO)

    Dec 20, 2014, 10:30 PM EST

    Rajon Rondo Rajon Rondo

    A final look back at Rondo’s time in Boston as he gets set to make his debut with Dallas.

  8. Report: Cavaliers GM passed on trading for Corey Brewer, hopes to add defensive big man instead

    Dec 20, 2014, 9:00 PM EST

    David Griffin AP

    Cavaliers are tied with the Pistons for 23rd in defensive efficiency.

  9. Report: Kings discussing trade for Deron Williams with Nets

    Dec 20, 2014, 7:11 PM EST

    New Jersey Nets practice 05/07/2014 AP

    Kings are looking to make a splash, and Williams has been made available in trade by the Nets.

  10. Report: Multiple teams contacting Suns trying to trade for Goran Dragic

    Dec 20, 2014, 6:30 PM EST

    Phoenix Suns Media Day Phoenix Suns Media Day

    Dragic will opt out of the final year of his deal to become an unrestricted free agent this summer.

  11. Jeremy Lin after Kobe misses at the buzzer: ‘I like game-winners too’

    Dec 20, 2014, 9:30 AM EST

    Memphis Grizzlies v Los Angeles Lakers Getty Images

    Lin understands why Bryant always gets the ball in these situations, but admits he’d like to get some opportunities.

Featured video

Jabari Parker injury latest for disappointing rookie class
Top 10 NBA Player Searches
  1. C. Bosh (7488)
  2. K. Martin (7437)
  3. K. Durant (7144)
  4. R. Rondo (6808)
  5. T. Parker (6783)
  1. T. Jones (6584)
  2. M. Smart (6519)
  3. A. Bogut (6444)
  4. D. Rose (6222)
  5. D. Lee (6178)