The Utah Jazz will soon have a new owner. In a shocking move out of left field, the Miller family is selling a majority interest in the Jazz to Qualtrics founder and CEO Ryan Smith, a news release by the Larry H. Miller Group said on Wednesday.
The Millers agree to sell the Jazz to Smith for $1.6 billion-plus, ESPN’s Adrian Wojnarowski reported. The Larry H. Miller group will retain a minority interest.
— Adrian Wojnarowski (@wojespn) October 28, 2020
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The deal, according to the news release, also includes Vivint Arena, the Salt Lake City Stars and the Salt Lake Bees.
Gail Miller and family announce agreement to sell majority interest in Utah Jazz and other sports and entertainment businesses to Qualtrics founder @RyanQualtrics.
— utahjazz (@utahjazz) October 28, 2020
The Millers have owned the team since Larry H. Miller bought 50% of the club in 1985.
Smith, a Utah native, has been connected with the Jazz for a number of years and was the co-creator of the “5 for the Fight” jersey patch worn on the Utah Jazz jerseys. That partnership led to today’s news.