Dwyane Wade, who won three NBA championships during his illustrious career, joined the ranks of NBA legends who own shares in NBA franchises. As a minority shareholder in the Utah Jazz, Wade recently celebrated his business partner’s latest acquisition.
In 2021, Wade became a part-owner of the Utah Jazz, which is primarily owned by Ryan Smith. Wade expressed his enthusiasm on Instagram after Smith’s recent purchase of a Utah-based NHL team for $1.2 billion.
Smith had previously acquired the Utah Jazz for $1.66 billion in 2020. He expanded his sports portfolio by purchasing Real Salt Lake and the Utah Royals the following year, revitalizing soccer in Utah. The addition of an NHL team further enhances Utah’s sporting landscape.
Wade’s social media post highlighted his partner’s bold move. Ryan Smith, the executive chairman and co-founder of Qualtrics, is a Utah-based billionaire whose company has made a significant impact on the city’s business landscape.
In 2020, Smith revealed his decision to purchase the Utah Jazz was influenced by his wife. He had initially intended to acquire the Minnesota Timberwolves but changed his mind after his wife’s intervention.
Shortly after Smith’s acquisition of the Utah Jazz, NBA Commissioner Adam Silver praised his commitment to the team and the Utah community. Smith’s investment has now brought the NHL to Utah, giving fans another reason to cheer.
While the NHL team’s name has yet to be determined, Smith is conducting polls and surveys to capture the essence of Utah in the team’s identity. The outcome of these surveys will be eagerly anticipated as Utah prepares for the arrival of its newest sports franchise.
