NBA legend Dwyane Wade purchases ownership stake in Utah Jazz

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NBA legend Dwyane Wade buys ownership stake in Utah Jazz

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Dwyane Wade #3 of the Miami Heat blows on his hand throughout the group’s shoot around prior to their video game versus the Utah Jazz at the Vivint Smart Home Arena on December 12, 2018 in Salt Lake City, Utah.

Chris Gardner | Getty Images

Dwyane Wade, 13-time NBA All Star and three-time NBA champ is signing up with the ownership group of the Utah Jazz, the Jazz revealed Friday.

The regards to the deal were not divulged.

Wade will sign up with the ownership group led by innovation business owner and Qualtrics creator Ryan Smith and his spouse Ashley who obtained a bulk interest in the Utah Jazz in late 2020. 

“Shortly after Smith acquired the Utah Jazz, he and Wade began conversations about Wade joining the Utah Jazz ownership group and Smith Entertainment Group (SEG), the first of many joint business ventures,” a declaration from the Utah Jazz read.

“As a kid from the south side of Chicago, this partnership goes beyond my wildest dreams of playing basketball, and I hope to inspire the next generation of dreamers,” stated Wade in a declaration.

Wade signs up with a growing list of professional athletes, present and retired, who have actually purchased sports groups around the world. Earlier today, previous Yankees star Alex Rodriguez signed up with previous Walmart e-commerce CEO Marc Lore to purchase the Minnesota Timberwolves for a reported $1.5 billion.

Correction: This story was upgraded to eliminate reference that Smith’s ownership group is the youngest in the NBA.