Larry H. Miller Group (LHM Group) owner and chairman Gail Miller (Gail Miller) and the Miller family announced today that they have reached a final agreement, will be in Utah Jazz and other sports and entertainment The majority stake in the venue is sold to technology entrepreneurs. Ryan Smith, co-founder of Utah-based Qualtrics.
The deal includes the Utah Jazz, Vivent Stadium, the National Basketball Association (NBA) G League Salt Lake City Stars, and Triple-A Baseball League Salt Lake Bee managers.
Smith has been a strong corporate partner of the Utah Jazz for many years.Creator of the “5 For The Fight” jersey patch, which is the first charity jersey patch in North American history Professional sports. Since the patch collaboration was announced three years ago, “5 For The Fight”
Gail Miller said: “I have known Ryan for several years and admire the values on which he and his wife Ashley live.” “They love and are connected to Utah.d This team. Due to years of friendship and several high-level conversations, Ryan recently contacted our organization to ask if it is possible to buy the Utah Jazz and some of our other sports and entertainment venues. After deliberate, lengthy discussions and extensive evaluation of our long-term goals, my family and I believe this is the right time to pass on our responsibilities and cherished 35-year management responsibilities to Ryan and Ashley, and they share our Values and commitment to keep the team in Utah. We are fully confident that they will continue the work we have done and take the team to a new level.Our family will continue to invest in Utah Jazz and the success of these businesses, and we will continue to maintainrights and interests. ”
After the transaction is completed, Smith will become the Governor of the NBA for the Utah Jazz and its affiliates, and he will have the final decision-making power over all businesses and basketball businesses related to the team and other assets included in the transaction. In addition to Steve Starks, who is the CEO of LHM Group, he will also serve as a consultant.
“The Miller family has had an incredible influence on countless people through Utah jazz and jazz. Other organizations they runn,” Smith said. “We all owe the great debt of the Miller family They have been managing this asset for the past 35 years.My wife and I are absolutely humble