DWAYNE WADE BECOMES PART OWNER OF UTAH JAZZ
Miami Heat star Dwayne Wade bought an ownership stake in the Utah Jazz organization. The NBA legend took his work ethic off the court to join majority owner Ryan Smith to take the Utah Jazz to the next level.
“As a businessman, entrepreneur, and investor, I bring a lot to this partnership outside of my basketball experience,” Wade, 39, said in a statement. “I’m excited to help take the Utah Jazz to the next level.” He continued, “This goes way beyond the dream I had to just play basketball in the NBA.”
Smith connected with Wade to join his ownership group. Smith’s group includes tech entrepreneur Mike Cannon-Brookes, venture capitalist Ryan Sweeney, businesswoman Gail Miller and Smith’s wife, Ashley. For every Jazz win this season, Smith promised to provide a student in need a four-year college scholarship. The franchise also partnered with Apple to create homes for LGBT youth and their families.
“Unfortunately, people in my community don’t get this opportunity, and I do not take it lightly to have this opportunity. To make real change, this is where you have to be — at the top — and Ryan knows that. I’m thankful for him, and I know too that I bring a lot to this partnership outside of just my basketball knowledge and skills.”
Wade joined other retired NBA players who are also part owners of the NBA team, such as Michael Jordan, Grant Hill, Shaquille O’Neal, and newly LeBron James. Ownership stake are no less than 1% in the NBA, but the exact amount of Wade’s investment is currently unknown.
