Dwyane Wade buys share of Utah Jazz

[Ckay]

Why not the Heat?

[bisme37]

General question: When a player buys a small stake of a team like this, does he then actually get involved in the business of the team? Is there any practical impact on anything?

[Beethoven]

Why not the Heat?

I know, doesnt make sense to me. Unless he really truly loves jazz and wants them to succeed over any other team.

It is like a diehard Boston celtics player buying a majority stake in the Lakers. Like let say Kevin McHale buys the Lakers, I would be up in arms because I know he would be up to no good using our team as a pawn for the benefit of the celtics. No doubt.

[ADMVP]

General question: When a player buys a small stake of a team like this, does he then actually get involved in the business of the team? Is there any practical impact on anything?

Probably not but then again, it's Wade and not some executive named Oglethorpe Haberdashery.

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[Catchall]

Not sure what DWade's connection is to Utah, but it's not a bad move for the Jazz to try to improve their culture and reputation around the league. I would have thought Miami would give him a seat at the table. Wade is like the face of the Heat.

[Catchall]

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[Woodsanity]

Why not the Heat?

Probably weren't any shares available.

[D.Brasco]

I like this new wave of smart investing retired NBA players. I wouldn't be surprised if a lot of them saw the 30 for 30 Broke doc and it gave them guidance on what not to do with your money as a retired pro athlete.

[Slim Charless]

Not sure what DWade's connection is to Utah, but it's not a bad move for the Jazz to try to improve their culture and reputation around the league. I would have thought Miami would give him a seat at the table. Wade is like the face of the Heat.

This^^^^

I'm surprised no one mentioned this yet. The Jazz and Utah in general have certain reputation around the league amongst black players and people in general. This is obviously an attempt by the owners to change that and make Utah seem more open and diverse.

As for DWade, he gets to own a part of an NBA team which is probably every player's ultimate dream after winning a chip and securing the bag.

[Metallikid]

I thought they don't play with Utah?

[Shock Defeat]

lol is Wade trying to kill his own rep with the city of Miami? Left the Heat high and dry to sign a deal with Chicago, then ring chased on Cleveland. Now this.

[TwoStarz]

Not sure if this really helps jazz bc his interests in Miami heat will make sure deals between the two will favor heat. Kind of like when West did Pau-kwame trade for us when he was w Memphis
Conflict of interest.

And that is exactly what? 1 team out of 31? Some posters on here really don't think about what they post

[TwoStarz]

I thought they don't play with Utah?

When money is involved, everyone plays. Money talks and walks my guy

[Fiddlestyx]

Not sure what DWade's connection is to Utah, but it's not a bad move for the Jazz to try to improve their culture and reputation around the league. I would have thought Miami would give him a seat at the table. Wade is like the face of the Heat.

The ESPN article mentioned that DWade and the new owner, Ryan Smith became fast friends around the time that Smith was buying the team and has taken him on as a mentor regarding business and investments. Sounds like this has been an on-going discussion. Also, the article mentions their views on things beyond the court align.

"Wade described a synergy to Smith's progressive vision of transforming the Jazz's success on the court -- including a league-leading 41-14 record -- into becoming a cultural leader in the community and state. Beyond Smith's lifelong love of the Jazz and basketball, his devotion to social causes made the organization an easy sell to Wade. Smith has dedicated a four-year college scholarship to an underserved student for every Jazz victory this season and partnered with Apple CEO Tim Cook to invest $4 million into the construction of eight Encircle homes, which provide safe-haven homes for LGBTQ youth and their families. Smith has embraced the Black Lives Matter movement, publicly supporting his players on those issues."

I dig it. Everyone knows the perceptions of Utah so good on DWade and the owner to use their platform. Will be interested to see what DWade does as part of this buy-in.

[Golden Knight]

Why not the Heat?

Probably weren't any shares available.

Read on Twitter

Read on Twitter

[SerialChiller]

Not sure what DWade's connection is to Utah, but it's not a bad move for the Jazz to try to improve their culture and reputation around the league. I would have thought Miami would give him a seat at the table. Wade is like the face of the Heat.

The ESPN article mentioned that DWade and the new owner, Ryan Smith became fast friends around the time that Smith was buying the team and has taken him on as a mentor regarding business and investments. Sounds like this has been an on-going discussion. Also, the article mentions their views on things beyond the court align.

"Wade described a synergy to Smith's progressive vision of transforming the Jazz's success on the court -- including a league-leading 41-14 record -- into becoming a cultural leader in the community and state. Beyond Smith's lifelong love of the Jazz and basketball, his devotion to social causes made the organization an easy sell to Wade. Smith has dedicated a four-year college scholarship to an underserved student for every Jazz victory this season and partnered with Apple CEO Tim Cook to invest $4 million into the construction of eight Encircle homes, which provide safe-haven homes for LGBTQ youth and their families. Smith has embraced the Black Lives Matter movement, publicly supporting his players on those issues."

I dig it. Everyone knows the perceptions of Utah so good on DWade and the owner to use their platform. Will be interested to see what DWade does as part of this buy-in.

Yep there is also the whole Donovan Mitchell connection as well where Wade mentors him.

[ForeverTFC]

This is good for Utah. They need to change their image a bit with players.

[Woodsanity]

Why not the Heat?

Probably weren't any shares available.

Read on Twitter

Read on Twitter

Really odd then. The Jazz seemed like such a random pick too. I assumed that it just happened to have a small stake available and other teams didn't. You would think a stake of the Heat would be more appealing than the Jazz too money wise. Weird.

[slicedbread2]

How much money is D-Wade worth? Random google search said $170m but no idea if that is accurate. Can't see him being more than a 5% owner and more of a name than anything.

Even if it's nothing more than a name, it still can be a good investment by both parties. Wade can possibly help recruit future players and Wade could make good money if he sells later.

Magic Johnson bought 5% of the lakers in 1994 for 10 million then sold that 5% in 2010. The value of all NBA teams skyrocketed so Magic surely made good money on that sale. NBA teams don't lose value that's for sure so it's a safe investment

That was pretty cool on Magic's part. He sold that share for 60M to the dude who owns the LA times, Dr. Patrick Soon-Shiong, a transplant surgeon, bioscientist and businessman who innovated Abraxane that became known for it's efficacy against lung, breast and pancreatic cancer. Magic got $60M in 2010 and now that stake is worth over $200M.

For D-Wade, this dude got a lifetime deal from Li-ning, a Chinese sportswear brand. Assuming he got a similar deal to what 50 cent got with vitamin water, he could've been given a 2.5% to even 5% stake in the company. Even if he has the former, his net worth could skyrocket to as much as $700M.

https://www.celebritynetworth.com/articles/celebrity/chinese-shoe-dwayne-wade-richest-athlete/

The article is from 2012 and he signed the lifetime deal in 2018, but take it as you will this is a win-win for Wade.

[babyjax13]

Random, but I like it! Hopefully he provides some mentorship for Donovan, and it will be great for the LGBTQ+ community to have him around : )