UTAH JAZZ

Dwyane Wade Becomes Minority Share Owner Of Utah Jazz

Apr 16, 2021, 10:28 AM | Updated: 11:18 am

Former Miami Heat guard and Utah Jazz minority owner Dwyane Wade (Photo by Michael Reaves/Getty Ima...

Former Miami Heat guard and Utah Jazz minority owner Dwyane Wade (Photo by Michael Reaves/Getty Images)

(Photo by Michael Reaves/Getty Images)

SALT LAKE CITY, Utah – Dwyane Wade is now a minority share owner of the Utah Jazz. The former Miami Heat legend is purchasing a share of the team according to the franchise.

Wade spent 16 seasons in the NBA, 14 of which came with the Heat before retiring in 2019. The guard was a 13-time All-Star in Miami and a member of three championship teams.

“Dwyane is not only a basketball legend, he is also a great leader, businessman, and human being,” said Ryan Smith, NBA governor of the Utah Jazz in a release from the team. “As we continue to build on the incredible legacy of the Utah Jazz franchise, we are excited to add Dwyane’s experience and expertise to the equation. Utah is an amazing place and I couldn’t be more thrilled about the future of the franchise and the future of this state. Dwyane’s influence will be important to both.”

 

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Smith is the majority owner of the Jazz. The co-founder and Executive Chairman of Qualtrics came to an agreement to purchase the team from the Larry H. Miller Group of Companies last October, a deal that was approved by the NBA’s board of governors in December.

The Miller Group, Australian tech billionaire Mike Cannon-Brookes, and venture capitalist Ryan Sweeney are also minority owners in the team.

Wade, 39, who made just shy of $200 million during his NBA career in addition to lucrative sponsorship deals has a net worth of around $170 million.

“Partnering with Ryan and the Utah Jazz is the perfect fit as we share the same vision and values,” Wade said. “Not only is this group focused on building a championship franchise, they are also committed to using their platform to do good and actively create a more inclusive, equitable world.”

The former superstar is married to actress and model Gabrielle Union. Wade has four children.

The guard spent two seasons at Marquette before being drafted by the Heat with the fifth overall pick in the vaunted 2003 NBA draft. Since retiring, the future Hall of Famer has become a regular fill-in host on the NBA on TNT.

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