Rising To The Top: Value of Utah Jazz Goes Up After Dwyane Wade Purchases Minority Stake

Rising To The Top: Value of Utah Jazz Goes Up After Dwyane Wade Purchases Minority Stake

Talk about a come up.

Boardroom tweeted that after former NBA player Dwyane Wade purchased a minority stake in the Utah Jazz just two years ago, the value of the team has skyrocketed – going from $1.75 billion to $2.25 billion.

AfroTech reported the 13-time NBA All Star acquired an ownership stake back in 2021, vowing to turn the team around. In a previous Instagram post, which appears to have been removed, Wade boasted about his excitement to be a part of the budding brand. “Proud and excited to become a part of the @utahjazz family with Ryan Smith and the rest of the amazing ownership team,” Wade said. “As a businessman, entrepreneur, and investor, I bring a lot to this partnership outside of my basketball experience. I’m excited to help take the Utah Jazz to the next level.”

According to ESPN, Wade is one of several former NBA players who have tapped into team ownership, including Grant Hill with the Atlanta Hawks, Shaquille O’Neal and the Sacramento Kings, and, of course, Michael Jordan and the Charlotte Hornets.

The three-time NBA champion has done well since retiring from the league in 2019, investing in more than just the Jazz and time with his beautiful family. BLACK ENTERPRISE previously reported that Wayne had invested in Tiger Woods‘ TMRW Sports, a company that would “build technology-focused projects with a progressive approach to sports, entertainment and media.” Shaq and Phoenix Suns player, Kevin Durant, also invested in the media company.

He also recently partnered with Square to launch Forward, a business accelerator program designed to help Black and Latino retail entrepreneurs secure the capital, coaching, and products they need to succeed.