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.
Aug 27, 2014, 3:00 PM EDT
Williams went 0-9, and stopped shooting.
Aug 27, 2014, 2:22 PM EDT
Go back to July 1 and consider the possibility of LeBron James and Kevin Love playing for Cleveland this season
Aug 27, 2014, 1:44 PM EDT
Embiid may have jumped the gun.
Aug 27, 2014, 1:02 PM EDT
Minnesota’s owner tried to point out some of Love’s flaws once the deal was done.
Aug 27, 2014, 12:21 PM EDT
Clippers owner Steve Ballmer calls keeping Rivers ‘one of my top priorities’
Aug 27, 2014, 11:46 AM EDT
Donald Sterling will try to embarrass the league going forward, but he will not ever own the Clippers again.
Aug 27, 2014, 11:09 AM EDT
Goes against public perception.
Aug 27, 2014, 10:31 AM EDT
Shumpert and other Knicks will love an offense with player and ball movement… if ‘Melo shares the rock.
Aug 27, 2014, 9:51 AM EDT
Sixers value a pick in next year’s draft more than they do Bennett at this time.
Aug 27, 2014, 9:22 AM EDT
Clippers could sign Chris Douglas-Roberts, Ekpe Udoh with freed cap space
Charlotte offers to spend $33.5 million to upgrade Hornets’ arena. Is that enough to get an All-Star Game?
Aug 27, 2014, 8:44 AM EDT
Reportedly 10 teams made bids so this helps
Aug 27, 2014, 8:00 AM EDT
Davis had 18 points, nine rebounds, five blocks and three steals in 20 minutes of work.
Aug 27, 2014, 12:25 AM EDT
The point guards made this blowout more fun to watch.
Aug 26, 2014, 11:30 PM EDT
I don’t see what could possibly go wrong here.
Aug 26, 2014, 10:30 PM EDT
Milwaukee’s trade with Clippers cleared a roster spot
Aug 26, 2014, 9:30 PM EDT
Aug 26, 2014, 8:35 PM EDT
Former Cavaliers center, 39, has been retired three years
Aug 26, 2014, 7:40 PM EDT
Glen Taylor also questions whether Cleveland should offer Love five-year contract
Aug 26, 2014, 6:45 PM EDT
Murry receives $250,000 guarantee
Aug 26, 2014, 5:55 PM EDT
Derrick Rose struggles off the bench against Slovenia
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- Iman Shumpert excited to play in triangle offense because he won’t just have to stand in the corner 4
- Timberwolves owner: Kevin Love might regret trade because he’ll be third banana with Cavaliers 46
- Anthony Davis and Kenneth Faried lead Team USA in final World Cup tune-up 20
- Thunder trade Hasheem Thabeet to 76ers 36
- From late-arriving to a LeBron James favorite, Kevin Love comes full circle 15
- Clippers trade Jared Dudley and first rounder to Bucks for Carlos Delfino and Miroslav Raduljica 23