Shaquille O'Neal outlines plan to purchase Orlando Magic: 'If they wanna sell... we're ready to go'

Gilbert McGregor

•
Shaquille O'Neal outlines plan to purchase Orlando Magic: 'If they wanna sell... we're ready to go' image

While No. 1 overall pick Paolo Banchero stands to have an impact on the court for the Magic this season, one of the franchise's former top picks has a plan to make become an executive and make his presence felt.

Hall of Famer Shaquille O'Neal, who was selected first overall by the Magic in 1992, is looking to get back involved with the franchise he helped lead to the NBA Finals in 1995. 

MORE: NBA Draft grades 2022: Ranking all 30 teams on draft night

It's no secret that Shaq is a savvy businessman. After his playing career, Shaq has owned 40 24-Hour Fitness gyms and 150 car washes, as well as 155 Five Guys Burgers restaurants. He also owns 17 Auntie Anne’s Pretzels restaurants and nine Papa John’s franchise units, according to Entrepreneur Magazine. During the latest episode of "The Big Podcast with Shaq," he expressed a desire to parlay that into ownership of the very franchise that drafted him.

Will Shaquille O'Neal purchase the Orlando Magic?

"Listen, we still run that franchise," O'Neal said. "And if they want to sell it to us — DeVos family — we're ready to go right now."

By "we" O'Neal was referring to himself and Dennis Scott, who was the featured guest on the podcast episode. O'Neal and Scott were teammates with the Magic from 1992 to 1996.

MORE: LeBron James sayss 'I want to own a team in Las Vegas'

Shaq added that "we got the money, you ain't got to worry about that.

But this message goes out to the DeVos family: If you're ready to sell Orlando Magic, sell it to somebody who's gonna take it to the next level, that's us.

Though O'Neal left the franchise as a free agent in 1996, he maintains a presence in Orlando, Fla., and even attended a Magic game this past season.

Who owns the Orlando Magic?

O'Neal specifically addresses the DeVos family, who, through RDV Sports, Inc. own the Orlando franchise. The corporation's namesake, Rich DeVos, passed away in 2018, but RDV Sports is now led by chairman Dan DeVos, Richard's son.

Rich DeVos purchased the Magic in 1991 for $85 million and was the franchise's owner when they drafted O'Neal the next year.

MORE: Paolo Banchero NBA Draft timeline: Magic blow up mock drafts by selecting Duke star

The DeVos family fortune comes from Rich DeVos being a co-founder of Amway. In addition to the Magic playing home games at the Amway Center, they play on Rich and Helen DeVos court. 

The family is reportedly worth over $5 billion and has not expressed a desire to sell the franchise.

Shaquille O'Neal net worth

O'Neal's quickness to mention that money wouldn't be an issue with the purchase was in reference to the type of ownership group he feels he would be able to assemble in order to purchase the team.

While a report from Forbes lists the Magic as one of the league's least valuable franchises, they're still reportedly worth $1.64 billion.

According to Celebrity Net Worth, O'Neal is estimated to have a net worth of $400 million, which wouldn't equate to an outright purchase of the team. O'Neal and his savviness in business places him in rooms that would allow him to quickly assemble an ownership group that could purchase a sports franchise like the Magic.

NBA ownership wouldn't be a new avenue for O'Neal, who purchased a minority stake in the Sacramento Kings prior to the 2013-14 season before selling his stake in January of 2022.

If the DeVos family does explore selling the Magic, they can count on having one bidder in the group that O'Neal would form.

Athletes who own NBA teams

While both LeBron James and Kevin Durant have expressed a desire to own NBA franchises in the future, a few former athletes have laid the blueprint for them to follow.

Michael Jordan, Hornets

After purchasing a minority stake in 2006, Jordan became the majority owner of the Charlotte franchise in 2010. He is the first former NBA player to become the majority owner of an NBA team.

Alex Rodriguez, Timberwolves

Rodriguez, along with entrepreneur Marc Lore, agreed to purchase the Timberwolves and Lynx from Glen Taylor in April of 2021. 

In July of 2021, the NBA approved the first increment of the sale, which is a 20 percent share of the franchise. Lore and Rodriguez purchased an additional 20 percent share in 2022 and can become controlling owners after purchasing another share in 2023.

Grant Hill, Hawks

In 2015, an ownership group led by billionaire Tony Ressler and featuring Hill reached an agreement to purchase the Hawks for $850 million.

Dwyane Wade, Jazz

In April 2021, Wade purchased a minority stake in the Jazz, something he says "goes way beyond the dream I had to just play basketball in the NBA," citing examples of O'Neal, Jordan and Hill as motivation.

David Robinson, Spurs 

After retiring from the franchise in 2003, Robinson purchased a 1.88 percent stake in the Spurs in 2004. According to a 2020 report from the San Antonio Express-News, Robinson is still among a group of owners holding a minority stake.

Gilbert McGregor

Gilbert McGregor Photo

Gilbert McGregor first joined The Sporting News in 2018 as a content producer for Global editions of NBA.com. Before covering the game, McGregor played basketball collegiately at Wake Forest, graduating with a Communication degree in 2016. McGregor began covering the NBA during the 2017-18 season and has been on hand for a number of league events.