Dwyane Wade Buys Ownership Stake In NBA Franchise

Dwyane Wade has purchased an ownership stake in the Utah Jazz, becoming the Hall of Fame-level former player with an NBA ownership stake.

Wade will join Jazz majority owner and team governor Ryan Smith and plans to have an active role in the franchise and region, the team announced on its official website following an initial report by ESPN's Adrian Wojnarowski.

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

Wade, 39, joins a select group of legendary former players with ownership stakes in NBA franchises including Michael Jordan (Charlotte Hornets), Shaquille O'Neal (Sacramento Kings) and Grant Hill (Atlanta Hawks.)

The former NBA Finals MVP spent his NBA career with three teams, most notably the Miami Heat (2003-06; 2018-19), winning three NBA championships and finishing his career as the franchise leader in points (21,556), assists (5,310) steals (1,492), field goals (7,842), minutes played (32,912) and games (948), as well as numerous other records, after being selected No. 5 overall in the 2003 NBA Draft.

The Chicago native also played for the Chicago Bulls (2016-17) and Cleveland Cavaliers (2017-18) before returning to the Heat for his final season, making his 13th career All-Star appearance in 2019.

“Dwyane is not only a basketball legend, he is also a great leader, businessman, and human being,” said Ryan Smith, NBA governor of the Utah 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 has already participated in numerous business ventures since retiring from playing basketball in 2019 including Li-Ning, Hisense, MISSION, Budweiser, BallerTV, Wade Cellars and 800° Woodfired Kitchen.

“I am always looking for new opportunities to grow and challenge myself,” Wade said. “I’ve always done things my own way and this is the next step in my journey. As a kid from the south side of Chicago, this partnership goes beyond my wildest dreams of playing basketball, and I hope to inspire the next generation of dreamers.”

Photo: Getty Images