Dwyane Wade joins the growing list of athletes assuming ownership stakes in pro teams after retirement.
Wade, a good friend of LeBron James, has always had sound business acumen and his entrepreneurial spirit can be found in his numerous successful endeavors; sneakers to real estate, to media startups, fashion and other investments.
Wade’s epic playing career is over, but he has plans to stay around the league.
On Friday Wade took a historical step by purchasing an ownership stake in the Utah Jazz.
Breaking: Dwyane Wade has purchased an ownership stake in the Utah Jazz, joining majority owner and governor Ryan Smith with plans to take an active role in the franchise and region, @wojespn reports: https://t.co/fL9jUR8Lya pic.twitter.com/Vt7xZCdhzL
— SportsCenter (@SportsCenter) April 16, 2021
Jazz majority owner Ryan Smith says he’s elated to have a person of Wade’s stature join the ownership group. This big move comes on the heels of LeBron James purchasing a 1 percent ownership stake in the Boston Red Sox.
Although Utah doesn’t strike most as a big-market buy, Wade obviously believes in his bold investment and what the Jazz are building under head coach Quinn Snyder.
Utah’s been a quality franchise dating back to the John Stockton, Karl Malone, Jerry Sloan, Pick-N-roll, days, reaching the NBA Finals twice. The Jazz hit a bit of a rough patch following the departure of those three Salt Lake City fixtures, but after several years of growingpains, Snyder’s long-term vision has come to fruition. The Jazz have the league’s best record and look like real contenders in the West.
DWade has had a burning desire to become an NBA owner and Jazz owner Ryan Smith says he and Wade have a lot of the same views on the league as a whole. Smith a new-age owner, made headlines when he offered an academic scholarship for every Jazz win beginning this season.
Utah’s franchise player Donovan Mitchell has a close relationship with Wade and has even been dubbed Wade 2.0 by many prognosticators. Similar in size and athletic ability, both were a bit unheralded even upon arrival into the NBA but soon took the league by storm with their unique skillsets.
A huge factor in this new marriage is Wade was long a part of the strong, winning culture masterminded by “The Don” Pat Riley during 15 seasons with the Miami Heat. He was a 13-time All-Star and earned three NBA championships before retiring after the 2018-19 season.
It’ll be fascinating to see Wade take the next step in the NBA as an active, seemingly hands-on owner in Utah.
D-Wade’s presence is sure to bring excitement to Salt Lake City and the Jazz organization for years to come.