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Owners of the Orlando Magic buy stake in Cubs
By David Miniel
The weather in the Chicago-land area has been frightful, which meant pushing the completion of the bleachers back for most of the first-half of the season.
As we all know, the Cubs were looking for minority owners interested in purchasing stakes in order to help funding this project that appears to be crawling along. One recent buyer emerged from the shadows two weeks ago after it was announced that South Bend Cubs’ owner Andrew Berlin was on board as a minority owner.
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Not only does Berlin own shares with the Cubs, but with the White Sox as well. While Berlin appears to be living dangerously as a share holder for both Windy City baseball teams, a current owner of an NBA franchise has thrown his decided to expand.
According to FOX 17, Grand Rapid, Michigan’s own DeVos family have announced their investment in the Chicago Cubs. They are the owners of the Orlando Magic and their home stadium, the Amway Center.
"“Hailing from the Midwest and having followed the Chicago Cubs for many years, the DeVos Family is proud to confirm that we have invested a non-controlling interest in the Chicago Cubs and the Wrigley Field renovation project. We respectfully refer any further questions on this topic to the Cubs organization.” – DeVos family statement via FOX 17."
The DeVos family acquired the Magic back in 1991 and have been running the show ever since.
The man leading the charge for the DeVos clan is Richard DeVos, a billionaire co-founder of Amway turned his attention to professional basketball after failing to acquire a major league baseball team expansion in Orlando.
He purchased the team for a cheap $85 million.
Not only are they involved in both basketball and baseball, but they have experience in hockey as well. DeVos and company used to own the Orlando Solar Bears, Grand Rapids Griffins, and the Kansas City Blades before its respected league folded.
One of Richard’s sons, Dan DeVos, currently owns the Griffins as part of the ‘American Hockey League’.
It’s safe to say that this family loves sports in general. Who knows, they could end up purchasing a Cubs’ minor league affiliate sometime in the future if they feel comfortable enough to do so.
Welcome to the family, Richard DeVos and children.