David Siegel will meet with Magic officials early next week, he told The Associated Press on Friday. He declined further comment.

Magic owner Rich DeVos announced Monday the team is for sale, which could lead to its relocation. Team officials say DeVos and his family are selling because they are losing about $10 million a year, and so he can engage in estate planning.

Magic officials did not return phone calls Friday.

In the Orlando Sentinel on Friday, Siegel said his group wants to keep the team in its arena, the 17,248-seat T.D. Waterhouse Centre.

Siegel said he thought a proposed renovation rather than the new arena the DeVos family had sought would help attendance. Siegel, however, did not discuss how that could get done.

Also, the Magic's current owners had many reasons why they repeatedly dismissed renovating T.D. Waterhouse Centre. The renovation would have added club seats and midlevel luxury boxes.

They said renovation would cost $200 million -- $50 million less than the price of a new venue. Team officials also didn't want to temporarily move the Magic from Orlando while the work was done on the arena because that would shrink the ticket-buying fan base.

"You'd basically be saying to your core group to take their money and do something else with it," Magic vice president Cari Coats said in May. "Then we'd come back, and they'd say, 'I've gotten out of the habit of going to the game, and I'm spending the money another way." '

Siegel is worth hundreds of millions of dollars. His time-share empire spans the country, and he told the Sentinel he estimates annual sales of Central Florida Investments Inc. -- the real-estate development firm he owns -- at more than $400 million.

Some of Siegel's finances became public after a divorce trial in 1997 when he was ordered to pay his former wife $200 million. He lost an appeal last year.

Siegel's company is under investigation by Florida authorities for allegedly discriminating against foreign nationals.

The state attorney general's office is looking into whether Central Florida Investments instructed its solicitors to avoid pitching time-share tours to citizens of countries such as India, Pakistan, Brazil and Israel.

As of Friday, "the investigation is open and ongoing," said Kathy Burgener, who works in the Civil Rights Division of the attorney general's office.

The Sentinel also reported Friday that hotel magnate Harris Rosen is interested in leading a volunteer group of business and government leaders to broker a public stock offering that would buy the team. That would put much of its equity in the hands of shareholders.

"I believe that taking the team public is a scenario that could work to keep it in Orlando and make it economically viable," Rosen told the newspaper.

Rosen did not return a message seeking comment Friday.