Months before agreeing to purchase the Utah Jazz for $ 1.66 billion, Ryan Smith, who was formally approved as owner by the NBA board of directors on Friday, said he was “very close” to a bid for the Minnesota Timberwolves.
Smith, who made his fortune as a co-founder of Utah-based technology company Qualtrics, had several detailed conversations with Timberwolves owner Glen Taylor last winter. Smith seriously considered taking the next step until his wife, Ashley, raised her objection.
“Something wasn’t right with my wife. She set foot,” Smith told ESPN. “She was like, ‘You know we’re jazz fans, right? That’s what we do, and I’m not moving.’ She doesn’t put her foot down very often, but it was a nice reminder that I got caught up in this other world because I liked the business side of it. ”
Smith then approached Gail Miller, whose family had owned the Jazz for 35 years, to potentially buy some of the team. He was initially turned down, but they got into a discussion again over the summer and worked out a deal for Smith to buy the Jazz, along with Vivint Arena, the team’s G League daughter and the Salt Lake City’s Triple-A baseball team. Bees.
“Ryan Smith is a forward-thinking, community-minded entrepreneur and business leader who will be a fantastic addition to our league,” NBA Commissioner Adam Silver said in a statement. As a lifelong fan of the Utah Jazz and more recently as one of their primary marketing partners, Ryan has shown his deep commitment to the Jazz and the Utah community, and there is no doubt that he will bring the same level of commitment to the operation of the team. “
Part of the agreement requires the team to stay in Utah, which was never a question for Smith, a lifelong jazz fan who has sat alongside Greg Miller, Gail’s son and the franchise’s former CEO, and his wife for the past few seasons. Heidi.
“Adam Silver said some people get the rare, rare opportunity to get some or even an entire NBA team,” Smith said. He said, ‘But no one, no one gets their team.’ Being here in a place where we can start this new chapter with our team is why this is so unique, but it’s also daunting, right? “
Smith, 42, a basketball fanatic who describes himself as an early morning pickup hoops at alma mater BYU several days a week, has no plans to make any big changes immediately. He chose the brain of Dallas Mavericks owner Mark Cuban, an equally passionate basketball fan who made a fortune in the tech world before purchasing an NBA franchise at a relatively young age.
“I’m angry after talking to him,” Cuban wrote in a response to ESPN. “He will be a great owner for jazz fans, which I think is a shame :)”.
Smith, whose previous relationship with the Jazz included sponsoring the “5 for the Fight” philanthropic jersey patch that raised more than $ 25 million for cancer research, deeply admires how the Miller family ran the franchise, noting that Utah ranks second in NBA wins over the past three decades.
“I feel that responsibility of that stewardship,” said Smith, who continues to operate as Qualtrics’ CEO after selling the company for a reported $ 8 billion. “So if you say, ‘Is this a hobby or is it a business?’ I really don’t know how to answer that because I feel like it is a stewardship for the Utah community.
“I’ll just be honest – I mean I’m not going to sell it, so out of all the business ventures I have, this isn’t the best. You have to do this because you’re passionate and you want to help the community and do it right. We want to win and do well here in Utah. I think the Millers showed that, and if I can just step into their shoes, that’s a perfect transfer. I’m optimistic about Utah. “
Smith said he expects to “be on a learning curve” while taking ownership of the team, especially in the field of basketball, and expressed great confidence in Jazz executive vice president of basketball operations Dennis Lindsey, general manager Justin Zanik and coach Quin Snyder.
The Jazz have made it to the playoffs for four seasons in a row, building a core around Rudy Gobert and Donovan Mitchell’s All-Star tandem – “a pretty cool place to sit and a great team to take over”, Smith said.
Smith has the same faith in Jazz president Jim Olson and the team’s business operations, saying he was “overwhelmed” by some of the ideas he has heard from that side of the franchise. Smith is a driving force behind the development of the fast-growing tech community “Silicon Slopes” in Utah. He is particularly fascinated with the implementation of technology to improve the fan experience and expects to be immediately involved in those aspects.
“When it comes down to it, I definitely have ideas,” said Smith. “I probably don’t have that many ideas about,” Hey, this is the play that Quin should be playing. ” He teaches me. He pulls me aside, like, “Hey, come and sit in this meeting. I want you to understand the defense, and this is how we’re going to get it together. “He’s great. It’s a whole different world.”
Smith, a father of five, said he plans to travel with the Jazz whenever possible, but joked, “I’m not going to line up with them.” He plans to find out how he can help maximize the experience of playing for the Jazz, as well as become a fan of the franchise.
“We certainly feel a responsibility for that,” said Smith. “You try to make sure everyone else has a great experience and allow that, rather than maybe doing it for yourself. I definitely change shoes with Greg and the Miller family because I’ve been the one next to him just with pleasure with the experience, and they were the ones hosting the feast.
‘Often you don’t enjoy that as much as you did when you were a fan, but one of my commitments is that that won’t change. I’m going to have fun. ‘