The Orlando Magic are an NBA basketball team based in the city of Orlando, Florida. The team was founded in 1989 and is currently owned by RDV Sports, LLC, a company controlled by Orlando businessman Richard DeVos Sr.. The team is also partly owned by the DeVos family.
The DeVos family, led by Richard DeVos Sr., is one of the wealthiest families in the United States. Richard DeVos Sr. is estimated to be worth over $5 billion dollars. He is the co-founder of Amway, one of the world’s largest direct selling companies. As of 2014, the DeVos family had a net worth of approximately $8.5 billion.
The Orlando Magic have enjoyed a great deal of success in recent years, making the playoffs in six of the last seven seasons. The team has also won the Eastern Conference championship twice and has made it to the NBA Finals once. The team is currently led by general manager Rob Hennigan and head coach Scott Skiles.
The DeVos family has owned the Orlando Magic since 1991, when Richard DeVos Sr. purchased the team from original owner William DuPont. Since then, the team has experienced a great deal of success and is now considered one of the top franchises in the NBA. In 2017, the team was valued at an estimated $1.05 billion, making the DeVos family one of the most successful NBA franchise owners in the league.
Under the DeVos family ownership, the Orlando Magic have been active in the community, providing support to local charities and youth organizations. The team also hosts events such as the Magic Cares initiative, which helps to raise funds for local charities, and the Magic Youth Foundation, which provides youth development programs.
As of 2019, the DeVos family still owns the majority of the Orlando Magic. Richard DeVos Sr. is still the majority owner, with his son, Richard DeVos Jr., owning a small portion of the team. The DeVos family also owns the NBA Development League’s Erie Bayhawks, making them the only family to own two professional basketball teams.
The DeVos family is one of the most successful owners in the NBA and has helped turn the Orlando Magic into one of the most successful franchise in the league. With their strong commitment to the team and the community, the DeVos family is sure to continue to be a major part of the Orlando Magic for years to come.
Who Is The Owner Of The Orlando Magic?
The Orlando Magic is currently owned by RDV Sports, LLC, which is a subsidiary of RDV Corporation. RDV Sports, LLC was founded in 1989 by founder and principal owner, Rich DeVos, and currently owns both the Orlando Magic and the Amway Center. The company is headed by CEO Alex Martins and the ownership group includes DeVos, his son-in-law Bob Vander Weide, and several minority owners.
RDV Sports, LLC is committed to providing a competitive environment for the team and the team’s fan base. The company constantly looks to improve the team’s performance, and hosts several events throughout the year to engage with the fan base. The company also has a strong focus on community outreach, and gives back to the Central Florida community in a variety of ways.
RDV Sports, LLC also operates the Amway Center, which is the home venue of the Orlando Magic. The Amway Center hosts a variety of events throughout the year, including sporting events, concerts, and other entertainment events. The center also features a variety of amenities, including dining, shopping, and entertainment options.
In addition to RDV Sports, LLC, the Orlando Magic also has several minority owners, including Dan DeVos, Peter Van Der Weide, David Siegel, and James Robarts. These minority owners all have an equal stake in the team and are dedicated to helping the team continue to be successful.
As the largest private owner of the Orlando Magic, Rich DeVos and RDV Sports, LLC have made a significant impact on the team and the Central Florida community. With their commitment to success and community outreach, DeVos and RDV Sports, LLC are dedicated to making a positive difference in the Magic franchise.
A Closer Look At The Current Owners Of The Orlando Magic Franchise
The Orlando Magic basketball organization is currently owned by a consortium of local businessmen, led by Dan DeVos. The DeVos family has been involved with the Magic since 1991, when they purchased an initial minority stake in the team. Since then, they have steadily increased their ownership stake, and currently own more than half of the team.
The DeVos family’s majority stake in the Magic is held by RDV Sports, Inc. This company is owned by Dan DeVos and his wife, Pamella DeVos. Dan is the CEO and the majority shareholder of RDV Sports, Inc., while Pamella is a minority shareholder. Other members of the DeVos family who own shares in RDV Sports, Inc. include Dan’s brother and sister-in-law, David and Helen DeVos, and his father, Rich DeVos.
The DeVos family is also the majority owner of the NBA’s Orlando Magic D-League team, the Lakeland Magic. The Lakeland Magic are a developmentally-based team, which provides opportunities for the Magic’s draft picks and young players to gain valuable experience. The DeVos family currently owns more than 80% of the Lakeland Magic.
In addition to the DeVos family, the current ownership of the Orlando Magic includes several other local business owners. These include Jim and Marta Watson, Alan and Linda Levey, and David and Anne Steinhauser. These individuals and their families own a combined 20% of the Magic, and have been involved with the team since the early 2000s.
The Orlando Magic is one of the most successful NBA franchises, with a rich history of success on the court. The DeVos family’s involvement with the Magic has been an integral part of this success, and their ownership stake in the team ensures that the Magic will continue to be a force in the NBA for many years to come.
The table below provides an overview of the current ownership of the Orlando Magic:
| Owner | Stake |
|---|---|
| RDV Sports, Inc. (Dan and Pamella DeVos) | 51% |
| David and Helen DeVos | 15% |
| Rich DeVos | 10% |
| Jim and Marta Watson | 7% |
| Alan and Linda Levey | 7% |
| David and Anne Steinhauser | 7% |
| Lakeland Magic (DeVos family) | 3% |
The Orlando Magic is currently owned by the DeVos family.
The current CEO is Alex Martins.
The current value of Orlando Magic is estimated to be around $1.9 billion.
The current manager of Orlando Magic is Steve Clifford.
The Orlando Magic was founded in 1989.
The official mascot of Orlando Magic is Stuff the Magic Dragon.
The Orlando Magic has won two championships, in 1995 and 2009.
The rivals of Orlando Magic include the Miami Heat, Charlotte Hornets, and Atlanta Hawks.
The current players of Orlando Magic include Nikola Vucevic, Evan Fournier, Markelle Fultz, and Aaron Gordon.
Yes, the official Orlando Magic app is available on the Apple App Store and Google Play Store.