Dwyane Wade buys ownership stake in Jazz, wants active role with team

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Chris Cwik
·3-min read
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Dwyane Wade is the latest NBA superstar to buy an ownership stake in a team. Wade purchased an ownership stake with the Utah Jazz, and wants to take a hands-on role with the franchise, according to ESPN's Adrian Wojnarowski. 

Wade, 39, told ESPN he was inspired by other NBA stars — like Grant Hill, Michael Jordan and Shaquille O'Neal — who have ownership stakes in teams. Wade — who already has a relationship with Jazz majority owner and governor Ryan Smith — added it was a dream for Wade to have ownership in a team. 

"This goes way beyond the dream I had to just play basketball in the NBA," Wade told ESPN. "I've seen Shaq do it in Sacramento. I've seen Grant Hill do it in Atlanta. I've seen Jordan do it in Charlotte. If this partnership is going to be anything like my relationship is with Ryan, there are going to be a lot of things that I'll want to be involved in.

"... Unfortunately, people in my community don't get this opportunity, and I do not take it lightly to have this opportunity. 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."

Smith and Wade met following Wade's retirement and became quick friends. Smith reportedly thought about getting Wade involved in team ownership shortly after Smith bought the Jazz in October. 

The amount of money Wade put up to purchase the ownership stake is not known, according Wojnarowski.

Dwyane Wade wants hands-on role with Jazz

While Wade reportedly wants to take on an active role with the team, it's unclear what that will look like. Smith and Wade did not discuss specifics when speaking with Wojnarowski.

Wade was asked about whether he had similar talks with the Miami Heat, where he spent the majority of his NBA career. Wade didn't reveal whether that was the case, but said he still respects and loves the Heat even though he has an ownership stake with the Jazz.

Heat managing general partner Micky Arison revealed the team approached Wade about joining ownership after Wade's retirement, but Wade wasn't ready for that yet.

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Arison also wished Wade good luck with the Jazz.

Wade picked a good time to join the Jazz. The team is 41-14, and sits in the No. 1 spot in the Western Conference. A deep playoff run could be in the cards this season. With the purchase, Wade gets to be a part of that.

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