Utah – Ryan Smith is the founder of the tech unicorn Qualtrics. He sold that company for $8 billion dollars in 2018. Insider’s report that Ryan was very close to striking a deal to buy the Phoenix Suns but it didn’t work out. However, Ryan found another opportunity in his home town of Salt Lake City to buy the Utah Jazz. Details are still emerging but Ryan is purchasing the team for $1.6 Billion dollars. The deal will be completed this year and ownership will be transferred.
Woj was the first to break the story with this tweet.
After 35 years of stewardship, the Millers have entered into an agreement to sell the Utah Jazz to Qualtrics founder @RyanQualtrics, sources tell ESPN.
— Adrian Wojnarowski (@wojespn) October 28, 2020
Gail Miller who is the current owner of the team had this to say.
“After much soul searching, lengthy discussions and extensive evaluations of our long-term goals, my family and I decided this was the right time to pass our responsibility and cherished stewardship of 35 years to Ryan and Ashley, who share our values and are committed to keeping the team in Utah. We have every confidence they will continue the work we have undertaken and move the team to the next level. Our family remains invested in the success of the Utah Jazz and these businesses, and we will retain a minority interest.”
Ryan Smith issued the following statement.
“The Miller family has had an unbelievable impact on countless people through the Utah Jazz and the other organizations they run. We all owe a great debt to the Miller family for the amazing stewardship they have had over this asset for the past 35 years. My wife and I are absolutely humbled and excited about the opportunity to take the team forward far into the future — especially with the greatest fans in the NBA. The Utah Jazz, the state of Utah, and its capital city are the beneficiaries of the Millers’ tremendous love, generosity and investment. We look forward to building upon their lifelong work.”
