Miami Heat & NBA legend Dwyane Wade buys stake in Utah Jazz • InsideSport
NBA 2021: c, 13-time NBA All-Star and three-time NBA champion bought a stake in Utah Jazz.
He will join majority owner Ryan Smith with views on effective participation in the team and the region.
“It goes way beyond the dream that I just had to play basketball in the NBA,“Wade told Wojnarowski. “I saw Shaq (O’Neal) do it in Sacramento.
Dwyane Wade on Utah Jazz
“I saw Grant Hill do it in Atlanta. I saw (Michael) Jordan do it in Charlotte. If this partnership is to be like my relationship with Ryan, there will be a lot of things I want to get involved in.
“… Unfortunately, people in my community don’t have this opportunity and I don’t take it lightly for this opportunity.
“To make a real change, this is where you have to be – at the top – and Ryan knows it. I am grateful for him and I also know that I bring a lot to this partnership apart from my basketball knowledge and skills.“
Wade joins a roster of former players-turned-owners that involve O’Neal, Hill and Jordan. Magic Johnson held a four percent stake in the Los Angeles Lakers, but has since sold it in 2010.
Breakdown: Dwyane Wade bought a stake in Utah Jazz, joining majority owner and Governor Ryan Smith with the intention of playing an active role in the franchise and the region, @wojespn reports: https://t.co/fL9jUR8Lya pic.twitter.com/Vt7xZCdhzL
– SportsCenter (@SportsCenter) April 16, 2021
The price has not been revealed, but the league has a law that requires controlling stakes to be at least one percent of the team.
The Jazz currently have the best record in the league at 41-14 with 17 games remaining on their schedule.
“Shortly after Smith acquired Utah Jazz, he and Wade began conversations about Wade joining the Utah Jazz and Smith Entertainment Group (SEG) ownership group, the first of many joint ventures.Read a statement from the Utah Jazz.