We know our man Shaq is in a LOT of businesses, and has commercial and sponsorship deals with a bunch of household names. Now the big man is talking about taking it to the next level. Is the world ready for O’Neal to become the full-on owner of an NBA franchise?
On a recent episode of his “Big Podcast,” Shaq gave some airtime to the idea of becoming owner of none other than the Orlando Magic – the team where he started his legendary career after being the Number One pick in the 1992 NBA Draft.
Interestingly, the Magic had the Number One pick again this year, after a lackluster season. They used it to take Paolo Banchero of the Duke Blue Devils. It could mean a good new refresh and restart for the Magic, and now it seems Shaq is saying he’d love the chance to be part of that new era as a potential owner.
Shaq-history students know that he entered the NBA with a huge bang in Orlando, breaking down backboards and dominating the game, right from the start. Along with Penny Hardaway, Dennis Scott, and Horace Grant, O’Neal quickly turned the Magic into one of the top franchises in the league, finishing the regular season as the top team in the Eastern Conference twice and making it to the 1995 NBA Finals.
Then of course he moved on to the Lakers, where he cemented his legendary status in the Association with Kobe Bryant, winning multiple Championships. Apparently however, the big man still has a love for his first team and first NBA city, Orlando.
The Magic have been owned by the DeVos family since the team’s inception. Shaq says he’s talked to another former Magic star, Dennis Scott, about the possibility of buying the team. Shaq says he and Scott would “love the chance to buy the franchise.”
Shaq: “This message goes out to the DeVos family – if you’re ready to sell the Orlando Magic, sell it to somebody that’s going to take it to the next level. That’s us. Smart people combined with common sense people and people that’s been there before. You can’t go wrong.”
As of today, there have not been any reports of the DeVos family showing any interest in selling the team, but that hasn’t stopped Shaq from putting the idea on the table. Yes, the family has owned the team since 199, but the franchise has struggled in recent years, only making the playoffs twice in the last 10 seasons. We’re guessing there would be many in the team’s fan base that would take the chance and roll the dice on new ownership.
How much would it take to buy the Magic? Well, that’s always open for negotiation, but a recent list in Forbes Magazine estimates the team’s value at just over one point six billion dollars…wow! BTW, the Magic are nowhere near the top of NBA teams, in terms of financial values. Three teams, the New York Knicks, Golden State Warriors and the Los Angeles Lakers are all valued north of five and a half billion…each!
Shaq is certainly a wealthy guy… but it would take some financially powerful partners to come up with the money needed to buy the Magic. With Shaq’s business sense and his various partners, there’s no doubt a deal could be done.
Even after he left Orlando, Shaq kept a positive relationship with the DeVos family over the decades. O’Neal has even said in recent years that he regrets not winning Orlando a championship before Rich DeVos died and that he would have stayed with the Magic if he could do it all over again.
Shaq already has some NBA ownership experience. Up until recently, he was a minority stakeholder in the Sacramento Kings. Now he could be pushing to “go all the way” with full ownership of one of his old NBA teams. Stay tuned!