Dwyane Wade Buys Ownership Stake In Utah Jazz

The three-time NBA champion wants a hands-on role.
Three-time NBA champion and former Miami Heat star, Dwyane Wade, has purchased an ownership stake in the Utah Jazz.
Wade, 39, joins majority owner and team governor Ryan Smith, a tech billionaire, who purchased the franchise in October 2020, and plans to take an active role in the franchise, ESPN writes. The two reportedly met at a golf course in San Clemente, California in 2019 and became fast friends. Smith, 42, soon hinted at the former athlete joining the ownership group.
“Not only is this group focused on building a championship franchise, but they are also committed to using their platform to do good and actively create a more inclusive, equitable world,” Wade said in a statement. “We share a lot of the same goals and are trying to go the same places in life. As a businessman, entrepreneur, and investor, I bring a lot to this partnership outside of my basketball experience. I’m excited to help take the Utah Jazz to the next level.”
After retiring from the NBA in 2019 with a 16-year playing career with the Heat, Cleveland Cavaliers, and the Chicago Bulls, Wade finished the league as a 13-time all-star, a future Hall of Famer, and TNT studio commentator.
The Washington Post reports that Wade addressed his fans’ concerns on his decision not to put any stake into the Miami Heat.
“The respect I that I have for that [Heat] organization will not go anywhere, the love that I have for the [Heat] fans— that goes nowhere,” Wade told ESPN. “But this is about the next phase of my life as an investor, a businessman, an entrepreneur. For me, this is an opportunity to grow.”
Micky Arison, the owner of the Heat, took to Twitter to share his disappointment following Wade’s decision, noting that the two had discussed ownership following his retirement.
Wade joins a list of NBA players who hold a stake in professional sports teams, including Michael Jordan, a majority owner of the Charlotte Hornets; Shaquille O’Neal, a minority owner of the Sacramento Kings; Grant Hill, a minority owner of the Atlanta Hawks; Kevin Durant, a minority owner of Philadelphia Union of Major League Soccer; and LeBron James joined Fenway Sports Group, which owns the Boston Red Sox and English soccer power Liverpool.

LOS ANGELES, CALIFORNIA – SEPTEMBER 05: Dwyane Wade attends the NBA 2K20: Welcome to the Next on September 05, 2019 in Los Angeles, California. (Photo by John Sciulli/Getty Images for NBA 2K20)

Blogs

CRAIG ROBINSON LEAVING COMEDY

CRAIG ROBINSON LEAVING COMEDY

Craig Robinson is leaving comedy.In a recent post on Instagram, The Office actor shared that he’s giving up comedy to focus on “something bigger.”“Life update: I’m officially quitting comedy to focus on my true calling. Stay tuned. I’m working on something huge,” he wrote in the video caption.He teased what his next venture might be in a follow-up…

ANOTHER RECORD FOR SZA AND KENDRICK

ANOTHER RECORD FOR SZA AND KENDRICK

Kendrick Lamar and SZA’s Grand National Tour brought in some serious cash. Billboard reports that Grand National is the highest-grossing co-headlining tour ever. The outing has grossed $254.6 million with 1.1 million tickets sold from 23 shows. By comparison, JAY-Z and Beyoncé‘s On the Run II Tour is the only other joint tour to hit…

LEBRON JAMES IS NOT RETIRING

LEBRON JAMES IS NOT RETIRING

LeBron James, 40, isn’t ready to retire yet. King James is staying with the Los Angeles Lakers for another season and he’s set to head into his 23rd NBA season. He’s been playing for the Lakers since 2018 and he won an NBA Championship with the team in 2020. Now, he’s hoping for another one…

SUPER BOWL HALFTIME PERFORMANCE RUMORS

SUPER BOWL HALFTIME PERFORMANCE RUMORS

We’re starting to hear loud rumblings about next year’s Super Bowl halftime show performer. The rumor going around is that Jay-Z will take the stage during the big game in San Francisco on February 8th, 2026. While we’re unable to confirm or deny at this point, it almost seemed inevitable that Hov would headline at…