Who Owns The Orlando Magic?
So, who owns The Orlando Magic? The Magic franchise is currently owned by a holding company, RDV Sports, which the DeVos family controls. Richard DeVos, the co-founder of Amway, and his son Dan DeVos, own RDV Sports. The DeVos family has been involved in the ownership of the Magic since 1991 when they purchased the team from its previous owner, Jimmy Hewitt.
Since taking over ownership of the team, the DeVos family has made a number of changes to the franchise. They’ve invested heavily in player development through their facilities and hiring experienced coaches and staff.
According to Forbes, as of the 2022-2023 season, the Orlando Magic is worth $1.85 Billion dollars. This makes them the 25th most valuable National Basketball Association (NBA) franchise.
About The Orlando Magic Franchise
The Orlando Magic is an American professional basketball team based in Orlando, Florida. The Magic compete in the National Basketball Association (NBA) as a member of the league’s Eastern Conference Southeast Division. The franchise was established in 1989 as an expansion team and has played at the Amway Center since 2010.
The Magic have had moderate success since their inception, winning six division titles (1995, 1996, 2008, 2009, 2010, and 2019) and two conference titles (1995 and 2009). However, they have never won an NBA championship. The Orlando Magic have had several notable players, including Shaquille O’Neal, Penny Hardaway, Dwight Howard, Nikola Vucevic, Nick Anderson, and Tracy McGrady.
The Magic have had several intense rivalries over their short history. Perhaps their fiercest rivals are the Miami Heat, with whom they contest the Southeast Division title every season. Other divisional rivals include the Charlotte Hornets and the Atlanta Hawks. The Magic’s main rivals outside their division are the Chicago Bulls and the New York Knicks.