The Jazz said that former NBA All-Star Wade has joined the Jazz ownership group, “merging his basketball experience and business acumen into the realization of a dream he has had since his playing days.”

Financial terms of the deal were not released.

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

Wade joins an ownership group led by Qualtrics founder Ryan Smith and his wife Ashley, who acquired a majority interest in the Jazz in late 2020 from the Miller Family, which had owned the team for 35 years.

The ownership group also includes tech leaders Ryan Sweeney, an Accel partner and investor, Atlassian co-founder Mike Cannon-Brookes, and the Miller family.

“Dwyane is not only a basketball legend, he is also a great leader, businessman, and human being,” Ryan Smith said via the Jazz.

"As we continue to build on the incredible legacy of the Utah Jazz franchise, we are excited to add Dwyane’s experience and expertise to the equation. Utah is an amazing place and I couldn’t be more thrilled about the future of the franchise and the future of this state. Dwyane’s influence will be important to both.”

Wade won three NBA titles with the Miami Heat (2006, 2012, 2013) and was a 13-time All-Star during his 16-year career with the Heat (14 seasons), Chicago Bulls and Cleveland Cavaliers. He retired following the 2018-19 season.

“I want to congratulate Dwyane on his recent announcement,” Micky Arison, managing general partner of the Heat, posted to his social media platforms.

“We had discussed having him join our ownership group after his retirement but he was not prepared to commit at the time. Of course I am disappointed that he didn’t reconsider.

Having said that I wish him good luck and much success with the Jazz. To me Dwyane will always be a Heat lifer.”

Among other former players with ownership stakes in an NBA franchise are Michael Jordan (principle owner and chairman for the Charlotte Hornets), Shaquille O’Neal (Sacramento Kings) and Grant Hill (Atlanta Hawks).

In addition, Renee Montgomery recently became the first former WNBA player to become part of team ownership with the Atlanta Dream.

Wade has a number of other business partnerships and endorsement deals, including Li-Ning, Hisense, Mission, Budweiser, BallerTV, Wade Cellars and 800° Woodfired Kitchen.

He also works as an NBA analyst for Turner Sports.

“Partnering with Ryan and the Utah Jazz is the perfect fit as we share the same vision and values,”“Partnering with Ryan and the Utah Jazz is the perfect fit as we share the same vision and values,” Wade said via the team.

“Not only is this group focused on building a championship franchise, they are also committed to using their platform to do good and actively create a more inclusive, equitable world. We share a lot of the same goals and are trying to go the same places in life.”

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