Orlando Sentinal <div class="quote_poster">Quote:</div><div class="quote_post">Rich DeVos attended Wednesday night's preseason game and acknowledged that his days as majority owner of the Orlando Magic are ending. DeVos confirmed to the Orlando Sentinel that ownership of the team will be transferred to his children and that Bob Vander Weide, his son-in-law and team president, will represent the Magic as their owner. The family wanted the paperwork on the transfer to be completed this month, but it likely will take until the end of the year. "We have to start preparing for the next stage in life," DeVos said before the Magic beat Maccabi Tel Aviv 93-79 at TD Waterhouse Centre. Club sources indicate that DeVos will still have about a 30 percent stake in the team. The second generation -- sons Dick, Doug and Dan and daughter, Cheri -- will have the controlling interest. Vander Weide, married to Cheri, told the Sentinel last season that the family was interested in looking for minority partners. Rich DeVos, who turns 80 in March, has not been involved in the day-to-day operations for years, but is kept abreast of significant developments. "They'll call the old man to tell them what they want to do and I'll probably go along with it," DeVos laughed. Although the Magic are trying to get a new arena built, or renovate the 16-year-old building, Vander Weide has said he wants the team to be in Orlando "another 20, 25 years." DeVos looked fit, but conceded that trouble with his left knee is causing him to lose his balance on occasion. His team is having physical issues as well.</div> Source
i kinda like this because it gives us more chances of getting a new arena which we've have wanting and also the better plus is we have a better chance to stay in orlando.
