Thirteen-time NBA All-Star Dwyane Wade has purchased a minority ownership stake in the Utah Jazz, the team announced.

Randy Smith, the founder of Qualtrics, bought the Jazz for $1.66 billion in 2020.

“Unfortunately, people in my community don’t get this opportunity, and I do not take it lightly to have this opportunity,” Wade told ESPN’s Adrian Wojnarowski. “To make real change, this is where you have to be — at the top — and Ryan knows that. I’m thankful for him, and I know too that I bring a lot to this partnership outside of just my basketball knowledge and skills.”

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Wade, 39, retired from playing after the 2018-2019 season. He earned over $196 million from salary alone during his 16-year career.

Wade, who played for the Miami Heat for most of his career and helped them win three NBA championships, was in talks to join the Heat’s ownership group before talks fell apart, according to Heat owner Micky Arison.

Arison, who is also the Chairman of Carnival Corp
CCL,
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& PLC, tweeted shortly after the news broke that Wade was “not prepared to commit” to joining the Heat ownership team.

Wade joins a list of former players such as Grant Hill (Atlanta Hawks), Shaquille O’Neal (Sacramento Kings) and Michael Jordan (Charlotte Hornets) who purchased ownership stakes in NBA teams. Jordan is the only former player who is a majority owner in the NBA.





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