Skip to content

Orlando Magic ownership says team is not for sale

Apr 6, 2014, 9:30 PM EDT

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. Report: Sacramento consultant Chris Mullin to take St. John’s head coaching job

    Mar 30, 2015, 6:14 PM EDT

    Chris Mullin AP

    There were rumors he wanted the Sacramento GM job, but George Karl has the power there now.

  2. PBT’s NBA Power Rankings: Cream rising to top as playoffs near

    Mar 30, 2015, 3:15 PM EDT

    Tim Duncan, Tony Parker, Marco Belinelli, Manu Ginobili Tim Duncan, Tony Parker, Marco Belinelli, Manu Ginobili

    The top three are Golden State, Cleveland and San Antonio. Would you be shocked if any of them won the title?

  3. Knicks are bad everywhere, fire D-League coach

    Mar 30, 2015, 1:27 PM EDT

    Foot Locker Three-Point Contest Getty Images

    Phil Jackson disciple Craig Hodges now coaching Westchester Knicks

  4. Michael Jordan played first Bulls "home" game at a high school (video)

    Mar 30, 2015, 12:49 PM EDT

    Michael Jordan, Dean Smith Michael Jordan, Dean Smith

    Jordan made preseason debut at Washington High School, but at one point, it seemed Washington High alum Junior Bridgeman would be the big draw

  5. Russell Westbrook dunks on teammate Enes Kanter

    Mar 30, 2015, 12:11 PM EDT

    Russell Westbtook, Enes Kanter Russell Westbtook, Enes Kanter

    D.J. Augustin throws the alley-oop, and two Thunder players go for it. Westbrook won.

  6. Texas’ Myles Turner, a likely lottery pick, declares for NBA draft with YouTube video

    Mar 30, 2015, 11:33 AM EDT

    Texas v Butler Getty Images

    Good decision to go pro, poor decision to end video how he did

  7. Blake Griffin makes 180 block (video)

    Mar 30, 2015, 10:22 AM EDT

    Blake Griffin, Kelly Olynyk, Jae Crowder Blake Griffin, Kelly Olynyk, Jae Crowder

    Jonas Jerebko thought his pump fake worked, but…

  8. Report: Georgia State’s R.J. Hunter declaring for NBA draft

    Mar 30, 2015, 9:45 AM EDT

    R.J. Hunter R.J. Hunter

    Hunter hit biggest shot of NCAA tournament, backed it up with strong junior season

  9. Report: Kings advisor Chris Mullin expected to become St. John’s coach

    Mar 30, 2015, 9:08 AM EDT

    New York Knicks v Sacramento Kings Getty Images

    Mullin has played prominent role in Vivek Ranadivé’s organization

  10. Breaking down Western Conference playoff chase with two weeks left in season

    Mar 30, 2015, 8:30 AM EDT

    Detroit Pistons v Golden State Warriors Detroit Pistons v Golden State Warriors

    The first and eight seeds are fairly set, after that the West is a jumbled mess.

Featured video

Where does Steve Nash rank all-time?
Top 10 NBA Player Searches
  1. K. Durant (6358)
  2. K. Lowry (6264)
  3. K. Martin (6154)
  4. H. Whiteside (6152)
  5. G. Monroe (5791)
  1. R. Rubio (5588)
  2. B. Knight (5554)
  3. D. Rose (5532)
  4. P. George (5357)
  5. L. Aldridge (5285)