According to reports, NBA legend Dwyane Wade has become a minority owner with the Utah Jazz.
The 39-year-old joined forces with majority owner Ryan Smith who purchased the team last year for $1.6 billion. It’s not immediately clear how much stake Wade bought, but a league-wide rule requires owners to purchase at least 1% stake in the franchise.
“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,” Wade continued. “To make real change, this is where you have to be — at the top — and Ryan knows that. The respect I that I have for that organization will not go anywhere, the love that I have for the fans — that goes nowhere. But this is about the next phase of my life as an investor, a businessman, an entrepreneur. For me, this is an opportunity to grow.”