Dwyane Wade # 3 of the Miami Heat blows on his hand during the team’s filming before their game against the Utah Jazz at Vivint Smart Home Arena on December 12, 2018 in Salt Lake City, Utah.
Chris Gardner | Getty Images
Dwyane Wade, 13-time NBA All Star and three-time NBA champion joins the Utah Jazz Ownership Group, the Jazz announced Friday.
Terms of the transaction were not disclosed.
Wade will join the ownership group led by tech entrepreneur and Qualtrics founder Ryan Smith and his wife Ashley who acquired a controlling stake in Utah Jazz at the end of 2020.
“Shortly after Smith acquired Utah Jazz, he and Wade started conversations about Wade joining the Utah Jazz and Smith Entertainment Group (SEG) ownership group, the first of many joint ventures,” reads. we in a Utah Jazz press release.
“As a kid from South Chicago, this partnership goes beyond my wildest dreams of playing basketball, and I hope to inspire the next generation of dreamers,” Wade said in a statement.
Wade joins a growing list of athletes, current and retired, who have invested in sports teams around the world. Earlier this week, former Yankees star Alex Rodriguez joined former Walmart e-commerce CEO Marc Lore to buy the Minnesota Timberwolves for $ 1.5 billion.
Correction: This story has been updated to remove the mention that Smith’s ownership group is the youngest in the NBA.