NBA Legend Dwyane Wade Acquires Ownership Stake in the Utah Jazz | NBA Legend Dwyane Wade Acquires Ownership Stake in the Utah JazzFinancial Buzz

NBA Legend Dwyane Wade Acquires Ownership Stake in the Utah Jazz

Last Friday, 3-time NBA champion and 13-time All Star Dwayne Wade announced that he had officially purchased an ownership stake in the Utah Jazz. Last year, Qualtrics CEO and tech billionaire Ryan Smith purchased the Jazz for USD 1.66 Billion. Smith had reportedly reached out to Wade and asked him to join the ownership 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,” Smith said in a statement.

The retired Miami-Heat guard joins a growing list of former NBA players purchasing or acquiring stakes in teams across the league. Lakers-legend Shaquille O’Neal owns a small stake in the Sacramento Kings, and Bulls-legend Michael Jordan is currently the majority owner of the Charlotte Hornets. “This goes way beyond the dream I had to just play basketball in the NBA… Unfortunately, people in my community don’t get this opportunity, and I do not take it lightly to have this opportunity,” stated Wade.

The Utah Jazz have had a phenomenal season and currently boast a league-best record of 42-15. Their two star players, guard Donovan Mitchell and center Rudy Gobert, were both selected as All Stars this season. Unfortunately, Mitchell and Gobert will miss some time due to injuries, yet both are expected to be healthy before the start of the postseason as the Jazz seek to remain serious contenders for this year’s NBA title.

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