Welcome to Utah, Dwyane Wade has acquired a stake in the Utah Jazz. The famed Miami quarterback has become a minority owner of Utah and will partner with businessman Ryan Smith, who owns the majority stake.
Wade, 39, plans to play an active role in the development of the Jazz and the club’s region.
Wade met Ryan Smith while playing golf in California in 2019, and they have since become friends. Smith, 42, has wanted to sell his stake in the Jazz to Wade ever since he completed the $ 1.66 billion purchase of the club in October 2020, according to the former basketball player. According to the rules of the NBA, the ownership share in the club can not be less than 1 percent, but the exact financial investments of Wade have not yet been disclosed.
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