AFRICAN SPORTS MONTHLY
'Sports is our Business'
  • Home
  • NEWS
  • Rankings
  • Radio
  • TV

​Utah Jazz sold to Qualtrics co-founder Ryan Smith for US$1.6bn

10/30/2020

0 Comments

 
Picture
Ryan Smith, co-founder and chief executive of software company Qualtrics, has agreed to acquire the National Basketball Association’s (NBA) Utah Jazz in a deal worth a reported US$1.6 billion.

 Deal includes Vivint Arena and Salt Lake City Stars G League team.

Gail Miller, owner and chair of the Larry H. Miller Group of Companies (LHM Group) that counts the Jazz among its assets, has entered into a definitive agreement to sell a majority interest in the franchise, as well as its other sports and entertainment properties.
 
Included in the pending transaction are the Jazz, the team’s Vivint Arena home, the G League’s Salt Lake City Stars, and management of the Triple-A baseball affiliate Salt Lake Bees, but not the team itself. 
Smith has been a strong corporate partner of the Utah Jazz for many years and was co-creator of the ‘5 For The Fight’ philanthropic jersey patch sponsorship.
 
Upon closing of the transaction, Smith will become the NBA governor of the Jazz, with Steve Starks becoming an advisor, in addition to his role as chief executive for the LHM Group.
 
The closing is subject to approval by the NBA board of governors and is expected to take place by the end of the year. Smith also plans to acquire The Zone Sports Network commercial radio station from the Miller family, subject to the parties entering into a separate agreement and separate approvals. 
 
“Ryan recently approached our organisation to inquire about the possibility of purchasing the Utah Jazz and some of our other sports and entertainment properties,” said Gail Miller
 
“After much soul searching, lengthy discussions and extensive evaluations of our long-term goals, my family and I decided this was the right time to pass our responsibility and cherished stewardship of 35 years to Ryan and Ashley, who share our values and are committed to keeping the team in Utah. 
 
“We have every confidence they will continue the work we have undertaken and move the team to the next level. Our family remains invested in the success of the Utah Jazz and these businesses, and we will retain a minority interest.
 
“I am fully persuaded that with this sale, the objectives of the trust will be honoured, and the new owners have made the same commitment to keep the team in Utah. This transaction will unlock opportunities that will allow us to continue our stewardship in ways not possible until now. Our mission is and will continue to be to Enrich Lives.”
 
Source: SportsPro
​

0 Comments



Leave a Reply.

    Archives

    April 2025
    March 2025
    February 2025
    July 2024
    June 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    April 2022
    March 2022
    February 2022
    January 2022
    September 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    June 2020
    April 2020
    March 2020
    February 2020
    December 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    February 2014
    January 2014
    December 2013
    November 2013
    August 2013
    July 2013

    Menu

    All
    2014 FIFA World Cup
    Athletics
    Basketball
    Boxing
    Commonwealth Games
    Cricket
    Golf
    Hockey
    Marathons
    News
    Olympics
    Rugby
    Soccer
    Spotlight
    Tennis
    Track And Field
    Volleyball
    Women Soccer
    Wrestling


    Picture
    Picture

    RSS Feed


    Tweets by ASMONTHLY

Tweet to @ASMONTHLY

Contact Us

    Contact Us

Submit

Donate & Support Our Efforts at African Sports Media Network