World News – US – Gail Miller family sell majority stake in Utah Jazz to Ryan Smith, CEO of Qualtrics

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ESPN’s Adrian Wojnarowski first announced Wednesday morning that the Millers will sell Utah Jazz to Qualtrics CEO Ryan Smith after 35 years of ownership

After 35 years of stewardship, the Millers have struck a deal to sell Utah Jazz to Qualtrics founder @RyanQualtrics, sources at ESPN say

Simultaneously, the Jazz announced that Miller will « make a virtual and special announcement today from Vivint Arena in Salt Lake City, Utah » at 10am, but later confirmed the news in a press release

According to the announcement, Vivint Arena, the Salt Lake City Stars of the NBA G League and the “management” of the Salt Lake Bees are also included in the sale

Smith and the Miller family have been linked in recent months with the sale of Utah Soccer Holdings, which includes Real Salt Lake, Utah Royals FC, and Rio Tinto Stadium, among other properties, but it’s unclear if the two are related

« I’ve known Ryan for many years and admire the values ​​he and his wife Ashley live their lives with, » Gail Miller said in a statement. “They have such a love and connection to Utah and this team. Due to our friendship and several high profile conversations over the years, Ryan recently reached out to our organization to inquire about the possibility of purchasing the Utah Jazz and some of our other sports and entertainment properties

« After a lot of soul-searching, long discussions, and in-depth assessments of our long-term goals, my family and I have decided it is a good time to hand over our responsibility and our beloved 35-year stewardship to Ryan. and Ashley, who share our values ​​and are committed to keeping the team in Utah We are confident that they will continue the work we have undertaken and take the team to the next level Our family remains committed to the success of Utah Jazz and those companies, and we will retain a minority stake « 

Smith said in a statement, “The Miller family has had an incredible impact on countless people across the Utah Jazz and the other organizations they lead. We all owe the Miller family a great debt for the incredible management she has exercised over this asset over the past 35 years My wife and I are absolutely honored and thrilled with the opportunity to move the team forward far into the future – especially with the biggest fans in the NBA. Utah Jazz, the state of Utah and its capital are the recipients of the Millers’ tremendous love, generosity and investment. We look forward to continuing their lifelong work « 

Miller spoke in the announcement of the trust inherited from the Jazz franchise in 2017, designed to ensure the team would stay in Utah

“I have full confidence that with this sale the objectives of the trust will be honored and the new owners have made the same commitment to keep the team in Utah,” said Miller “This transaction will open up opportunities that will allow us to continue our management in a way that was not possible until now Our mission is and will continue to be to enrich lives « 

The sale is expected to be finalized by the end of the year, according to the announcement. Smith will also buy The Zone Sports Network in a separate transaction

Larry H Miller Dealers, Larry H Miller Real Estate, Prestige Financial Services, Salt Lake Bees and Megaplex Theaters will continue to be part of the LHM group

Utah Jazz, Gail Miller, Ryan Smith, Qualtrics, Larry H Miller, Utah Utes football

Global news – United States – Gail Miller family sells majority stake in Utah Jazz to Qualtrics CEO Ryan Smith


SOURCE: https://www.w24news.com

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