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10 Things You Didn't Know About the Orlando Magic Owner Richard DeVos

Richard DeVos

The Orlando Magic may not be going to the NBA Finals this year, but they’ve definitely done well enough to maintain their standing from last season. This season surprised many as the team made the playoffs, but the Raptors were just the slightly better team this year. The team is looking forward to a batter 2019-2020 season, and management is certainly looking at how the Magic can fare better against other such high profile NBA teams. The Orlando magic owner is not one entity, and if you don’t know much about them, here are 10 things to get you informed.

1. The Magic is owned by RDV Sports

Yes, the NBA team is not owned by one person but by a corporation. Technically, the corporation was set up specifically to purchase the Orlando Magic. That corporation was set up by Richard DeVos—hence, the RDV name. RDV Sports was founded in 1991, and it’s still the owner of the team to this day. Their headquarters is located in Orlando. It isn’t unusual for an NBA team to be owned under an organization. It’s a strategic way to protect personal assets, and it was smart for DeVos to go this route.

2. Richard DeVos passed away in 2018

The man that set up the corporation is no longer around, but he left a legacy to be passed on to his future family generations. RDV Sports is currently owned by members of the DeVos family, and operations are still being managed by the family to this day. Richard DeVos was a billionaire businessman, and according to this article from Forbes, his net worth just before he died was at around $5.4 billion. Richard DeVos was one of the co-founders of multi-level marketing giant, Amway.

3. Dan DeVos is current chairman of the company

Richard DeVos passed along the baton to his son, Dan. Dan DeVos is a businessman in his own right, and he’s most well known for his role as CEO of DP Fox. Dan has actually held the position of Orlando Magic chairman since 2011. In addition, he also serves as chairman of the Orlando Magic Youth Foundation. Dan also owns and operates other athletic teams. He’s also actively serving as a member of the board of directors of the West Michigan Sports Commission.

4. RDV Sports have other assets

The Orlando Magic may be its biggest asset, but RDV Sports, Inc. has its hands in other ventures as well. In addition to the Magic, the organization also owns the Orlando Solar Bears (until 2001) and the RDV Sportsplex. The Solar Bears are a professional ice hockey team that’s based in Orlando and plays at the Amway Center. The team plays in the South Division of the ECHL. The RDV Sportsplex is a sports and recreation facility in Maitland, Florida. It basically serves as an athletic center.

5. The family secured Amway center

The history of the DeVos family and Orlando Magic are so intertwined in many ways. This article outlines how the DeVos family was crucial in the acquisition of the now Amway Center. The Amway Center serves the Orlando area in so many different ways, and it’s become a crucial part of the Central Florida community. The DeVos family has also helped fund the building of various other community centers throughout Central Florida.

6. RDV Sports used to own the Orlando Miracle

The organization also used to own the WNBA team from Orlando, the Miracle. The Orlando Miracle was part of RDV from 1998 until 2002. They were the Magic’s sister team. However, the team relocated after the 2002 season to Uncasville, Connecticut due to financial reasons. There, the Miracle became known as the Connecticut Sun. The team became the very first in the professional sports industry to be owned by a Native American tribe. The Mohegan Indian tribe purchased the Miracle, and the logo was transformed into the Mohegan symbol for the sun.

7. The DeVos family is very active with the OMYF

We’ve already mentioned that Dan DeVos is currently the chairman for the Orlando Magic Youth Foundation. But it begs to say just how much the family has done with the charity and how many children benefit from the OMYF each year. The numbers show that at least 100,000 kids from the Central Florida area are positively affected by OMYF. Volunteers for the organization also generally log in about 7,000 volunteer hours for the program each year. It’s an incredible initiative by the DeVos family that’s bringing positive impact to the community in many ways.

8. They are incredibly loyal

It’s pretty clear to see that the DeVos family is quite invested in Orlando, Florida. They’ve established their lives and businesses here. However, business is business, and there were times when the Magic underperformed for many seasons. There were rumors that circulated for a while about how the DeVos family might eventually sell off the NBA team. This article from the Orlando Sentinel, however, states just how loyal the DeVos family is. They have no intention of ever selling the NBA team, and it seems as if we’ll forever have the Magic around.

9. The DeVos family has ties to politics

For a business giant like Rich DeVos, it shouldn’t be a surprise that one of the speakers in his funeral was a former president. However, the DeVos family still has ties to the government today. Current Education Secretary Betsy DeVos also carries the DeVos name through marriage. She married one of Rich’s son, Dick DeVos.

10. Richard DeVos almost died twenty years too soon

Rich DeVos needed a heart transplant when he was only 71 years old. This article from outlined the story of how all the stars aligned for the senior DeVos to receive a rare and unique heart to match his own. Instead of only having a few months to live, Rich ended up living for another 21 years until his death at 92 years of age. He believed he had a purpose, and he just might’ve fulfilled that purpose through so many people he’s helped over the last couple of decades.

Garrett Parker

Written by Garrett Parker

Garrett by trade is a personal finance freelance writer and journalist. With over 10 years experience he's covered businesses, CEOs, and investments. However he does like to take on other topics involving some of his personal interests like automobiles, future technologies, and anything else that could change the world.

Read more posts by Garrett Parker

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