Apr 6, 2014, 9:30 PM EST
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.
Jan 31, 2015, 5:00 PM EST
Cleveland plays the Timberwolves in Minnesota on Saturday.
Jan 31, 2015, 3:59 PM EST
Jan 31, 2015, 3:21 PM EST
With Ricky Rubio, Nikola Pekovic and Kevin Martin back in the rotation the Timberwolves will not be such a pushover.
Jan 31, 2015, 2:00 PM EST
Green being unexpectedly held out led some to speculate that he might be dealt.
Jan 31, 2015, 12:30 PM EST
They’re not winning, but they still produce some highlight plays.
Jan 31, 2015, 11:00 AM EST
The tenth in Bryant’s signature line returns to a low-top silhouette, and the first colorway is inspired by Kobe’s early morning high dive as he recovered from ACL surgery.
Jan 31, 2015, 9:30 AM EST
Denver’s offer of J.J. Hickson and JaVale McGee isn’t enough for Brooklyn to pull the trigger — especially with Lopez coming off of a 35-point, 12-rebound performance against the Raptors.
Jan 31, 2015, 8:00 AM EST
Those two together at this stage of their careers are a poor fit together.
Jan 31, 2015, 12:36 AM EST
Balance and defense win the day.
Jan 31, 2015, 12:01 AM EST
180 or 360?
Jan 30, 2015, 10:59 PM EST
It took Kobe Bryant being injured for Cousins to make the squad.
Jan 30, 2015, 9:49 PM EST
If it can happen to Duncan….
Jan 30, 2015, 8:45 PM EST
Robin Lopez has a long rap sheet of mascot abuse.
Jan 30, 2015, 7:51 PM EST
Jeff Green could get more run.
Jan 30, 2015, 6:56 PM EST
This is not a serious injury, but they will miss him defending Blake Griffin.
Jan 30, 2015, 5:59 PM EST
All of those teams could use point guard depth.
Jan 30, 2015, 5:16 PM EST
Thank the new television contract.
Jan 30, 2015, 4:29 PM EST
“So if you see me diving on the floor and people say ‘what is he doing?’ I can’t help but be the player that I am.” —Jimmy Butler on playing in the All-Star Game
Jan 30, 2015, 3:29 PM EST
He should be. He was robbed.
Jan 30, 2015, 2:51 PM EST
I’ll take Stephen Curry
- Report: Timberwolves’ Ricky Rubio set to return Monday vs. Dallas 4
- Nike unveils latest signature shoe for Kobe Bryant, the Kobe X (PHOTOS) 11
- Report: Nuggets trying to trade for Brook Lopez 10
- Last summer Carmelo Anthony, Kobe Bryant talked, decided it wouldn’t work together 26
- Jimmy Butler even plans to play defense in the All-Star Game 8
- Damian Lillard “disappointed,” “disrespected” not to make All-Star team 45
- DeMarcus Cousins replaces Kobe Bryant in All-Star game 11
- Tyson Chandler, better than ever, thinking legacy 10