Just 3 years after Dwyane Wade became minority owner of Utah Jazz, the team has doubled in value, from $1.75B to $3.46B

Abu Mubarik April 19, 2024
Dwyane Wade. Photo: Wikimedia Commons/Erik Drost

Dwyane Wade is a retired NBA player who at the peak of his career won three NBA championships. Growing up, Wade started doing drugs and to avoid gang life and drugs, he took to basketball throughout his high school years at Harold L. Richards High School in Oak Law.

He continued to Marquette University, where he led the team to their first Final Four appearance in 25 years. He was drafted by the Miami Heat in 2003 and chose to leave Marquette during his senior year after an exception was made for him because universities usually require that a student complete graduation before retiring a jersey.

It was at the Miami Heat that Wade won three NBA championships, first in 2006 and then in 2012, and 2013 respectively. Wade announced his retirement after the 2018-2019 season.

Wade earned $200 million in salary alone during his 16-year career in the NBA, according to reports. Forbes recently said he makes $17 million annually in endorsements.

While playing in the NBA, Wade was not oblivious to his retirement plans. Following in the footsteps of ex-NBA players who became entrepreneurs like Michael Jordan and Shaquille O’Neal among others, he ventured into entrepreneurship and pursued other business moves.

Since retiring from the NBA, he has established several companies. Of significance is his investment in Utah Jazz. According to him, he was influenced by ex-NBA stars like O’Neal, Jordan, and Grant Hill among others to own an NBA team.

“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…”

Wade invested in the Utah Jazz in 2021 when the team’s total valuation was $1.75 billion. Since his investment, the club’s value has hit $3.46 billion, according to Boardroom.

“If people are doubting how far you can go, go so far that you can’t hear them anymore,” said Wade on social media at the time of the deal. “Second act activated.”

The move to invest in Utah Jazz was possible due to the friendship between the majority owner, Ryan Smith, and Wade that began on the golf course when the ex-NBA player announced his decision to retire.

Last Edited by:Mildred Europa Taylor Updated: April 19, 2024


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