Dwayne Wade Buys Ownership Stake in Utah Jazz

Three-time NBA champion Dwayne Wade has bought an ownership stake in the Utah Jazz.

The team announced on Friday that Wade had joined the NBA’s youngest ownership group. Tech entrepreneur and Qualtrics founder Ryan Smith and his wife Ashley acquired a majority interest in the team last year, while investor Ryan Sweeney and Atlasssian co-founder Mike Cannon-Brookes are also a part of the ownership group.

The 13-time NBA All-Star said in a statement that the financial decision was the realization of a longstanding dream.

“As a businessman, entrepreneur, and investor, I bring a lot to this partnership outside of my basketball experience,” he said. “I’m excited to help take the Utah Jazz to the next level.”

Smith said that in addition to being a “basketball legend,” Wade is also a “great leader, businessman, and human being” who will be integral to the team’s future.

Wade, who retired as a player in 2019, also has a business partnership with Chinese athletic company Li-Ning. Former NBA players Michael Jordan, Shaquille O’Neale and Grant Hill have also bought ownership stakes in the NBA franchise.

Earlier this month, ESPN reported that the NBA expects arenas to be at full capacity again for the 2021-2022 season.
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