Dwyane Wade buys ownership share of Utah Jazz

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Dan Feldman
·2 min read
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Dwyane Wade is a #HeatLifer.

Except the time he spent with the Bulls and Cavaliers. And now his ownership stake in the Jazz.

Adrian Wojnarowski of ESPN:

Three-time NBA champion 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.

Heat owner Micky Arison:

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This is a splashy addition by the Jazz. Wade is a beloved all-time great player.

But Ryan Smith will remain controlling owner. Minority owners usually hold limited influence.

Perhaps, Wade will have more say in Utah. That could explain his decision not to purchase a share of the Heat. Wade also buys into a team that’s good right now and has stars Donovan Mitchell and Rudy Gobert signed long-term.

The NBA reportedly mandates new owners buy at least 1% of a franchise. If the Jazz were valued at the $1.66 billion paid in October, Wade’s minimum buy-in would be $16.6 million.

Despite his wealth, Wade has kept perspective (mostly). He cares about using his money for good causes. That all bodes well for Wade in this new role.

More on the Jazz

NBA Power Rankings: Clippers take turn on top with Suns right behind Luguentz Dort scores career-high 42 in Thunder’s loss to Jazz (video) Three things to know: Chris Paul, Suns make case they are best in West

Dwyane Wade buys ownership share of Utah Jazz originally appeared on NBCSports.com