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Owner of Orlando Magic NBA Team Decides Not to Sell.
Knight Ridder/Tribune Business News, March, 2002
By Jeff Kunerth, The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News
Mar. 6--Orlando Magic owner Rich DeVos announced Tuesday that he's had a change of heart: The Magic are not for sale.
"We're going to stay in town and keep the team," said DeVos, 76, reversing the decision he made in January to sell the National Basketball Association team he bought in 1991.
DeVos said the decision to keep the team was not contingent on getting a new arena or renovating the existing TD Waterhouse Centre. Instead, DeVos said he would concentrate on cutting expenses and filling empty seats in the arena.
"We're going to show you can make it work in this town," he said.
Orange County Chairman Rich Crotty and Orlando Mayor Glenda...
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