Who Owns The Magic Now?

The Orlando Magic franchise of the National Basketball Association (NBA) is one of the league’s original eight franchises. It was founded in 1989 and has been playing in the NBA ever since. The team has had a significant amount of success over the years, including several division championships, conference championships, and a NBA Finals appearance.

Currently, the Magic are owned by a group of seven investors who call themselves the DeVos Family. The group is led by Richard DeVos, Jr., who is the son of the late Amway co-founder Richard DeVos. The other members of the group are Richard’s wife, Daniella, his three sons, and two of his grandchildren.

The DeVos family purchased the Magic from the Orlando Professional Sports Limited Partnership in 2000. The purchase price was reported to be $185 million. Since then, the Magic have seen their value increase significantly. According to Forbes, the Magic are now worth an estimated $1.5 billion.

The DeVos family have invested heavily in the franchise since taking ownership of the team. They have poured millions into upgrades and renovations to the Amway Center, the team’s home arena, as well as into other significant investments like player personnel and coaching staff.

The DeVos family has been very active in the Orlando community since taking ownership of the Magic, and have been credited with revitalizing the downtown area. They have also been involved in a number of philanthropic activities.

The DeVos Family and the Orlando Magic have had a successful partnership over the last two decades, and the team appears to be in good hands for the foreseeable future.

The Latest Ownership Of The Magic: Who Is In Charge Of The NBA Franchise?

The Orlando Magic is a professional basketball team based in Orlando, Florida. The team is a member of the National Basketball Association (NBA). The franchise was founded in 1989 and is currently owned by the DeVos family. The DeVos family has owned the team since 1991 and is currently led by Richard DeVos Jr., the team’s chairman.

The DeVos family has been involved with the NBA for over 20 years, and have been the majority owners of the Magic since 1991. The family purchased the Magic for a reported $85 million and have since seen the franchise soar to success both on and off the court. The team has made the playoffs in nine of the last 10 seasons, and have won the Eastern Conference title in 2009 and 2010.

In addition to their success on the court, the DeVos family has committed to investing heavily in the Orlando community. The DeVos family is active in charity, education, and health care initiatives in Central Florida. They also sponsor youth sports programs across the region, and have even hosted a number of NBA exhibition games at the Amway Center, which is the home of the Magic.

The DeVos family is dedicated to making the Magic one of the most successful franchises in the NBA. They have a strong commitment to the team, the city of Orlando, and the state of Florida. The DeVos family is also actively involved in the day-to-day operations of the team, from player signings and trades to managing the team’s finances. Their commitment to winning has helped the Magic become a perennial playoff team, and they are hopeful that the team can take the next step in the near future and become a championship contender.

The DeVos family is committed to making the Orlando Magic one of the best franchises in the NBA, and they are determined to help the team succeed both on and off the court. With their commitment and dedication, the future looks bright for the Orlando Magic.

Investing In The Magic: Exploring The Benefits Of Becoming An NBA Owner

If you are looking to invest in the National Basketball Association (NBA), then the Orlando Magic is a great option. Owned by the DeVos family since 1991, the Magic have been perennial playoff contenders, making the playoffs 27 times in the last 30 seasons, including the 2019-2020 season. With a solid core of young players, the Magic have a bright future ahead of them.

Investing in the Magic provides a multitude of benefits. For starters, you’ll have access to exclusive events, media coverage, and marketing opportunities. Additionally, you’ll also enjoy the financial rewards of owning an NBA franchise. With the average NBA team worth $2.12 billion in 2019, you can expect to make a healthy return on your investment over time.

You’ll also have the privilege of being part of a winning organization. The Magic have reached the NBA Finals twice and have had a history of success under the DeVos family, including two Southeast Division titles and five Eastern Conference titles. Furthermore, with the team’s recent move to the Amway Center, they have one of the best arenas in the league.

One of the most attractive benefits of becoming an NBA owner is the potential to make money from broadcasting rights. The NBA recently signed a nine-year, $24 billion broadcast rights deal with ESPN and Turner Sports. As an owner, you’ll be able to receive a share of the revenue from these deals. This can be a great way to make passive income from your investment.

When it comes to investing in the Magic, there are several options available. Some investors may opt to purchase a minority stake in the team, while others may choose to become a full-fledged owner. The cost will vary depending on the size of the stake and the investor’s goals. However, the potential rewards are significant.

Overall, investing in the Magic has plenty of benefits. From the potential to make money from broadcasting rights to the chance to be part of a winning organization, there’s a lot to love about owning an NBA team. If you’ve been considering investing in the NBA, then the Orlando Magic is a great choice.