Months before agreeing to buy the Utah Jazz for $ 1.666 billion, Ryan Smith, who was formally approved as the owner by the NBA governing board on Friday, said he was “very close” to making a offer to buy the Minnesota Timberwolves.
Smith, who made a fortune as a co-founder of Utah-based technology firm Qualtrics, had several detailed conversations with Timberwolves owner Glen Taylor last winter. Smith seriously considered taking the next step until his wife, Ashley, expressed his objection.
“With my wife, something was wrong. I was leaving my foot down,” Smith told ESPN. “She said,‘ You know we’re Jazz fans, right? That’s what we do, and I don’t move. “She doesn’t set foot very often, but she remembered that I had been trapped in this other world because I liked her part of the business.”
Smith addressed Gail Miller, whose family had owned the Jazz for 35 years, about the possibility of buying a portion of the equipment. It was initially rejected, but they became involved in discussions again over the summer and reached an agreement for Smith to buy the Jazz along with Vivint Arena, the team’s G-League affiliate and baseball team. Triple-A, the Salt Lake City Bees.
“Ryan Smith is a forward-looking businessman and business leader who will be a fantastic addition to our league,” NBA Commissioner Adam Silver said in a statement. “As a lifelong fan of Utah Jazz and, more recently, as one of its key marketing partners, Ryan has demonstrated his deep commitment to the Jazz and Utah community, and there is no doubt that he will bring that same level of dedication to the operation of the team. “
Part of the deal calls for the team to stay in Utah, which was never an issue for Smith, a lifelong Jazz fan who has been on the court side with Greg lately. Miller, the son of Gail and the former general manager of the franchise, and his wife, Heidi.
“Adam Silver said some people have the weird, weird chance of getting a piece or even an entire NBA team,” Smith said. “He said,‘ But no one, no one gets it theirs team. “For me being in a place where we start this new chapter with our team is why it’s so unique, but it’s also daunting, right?”
Smith, 42, a self-described basketball fan who plays morning pick-up hoops at the BYU alma mater several days a week, has no intention of making any immediate changes. He has chosen the brain of Dallas Mavericks owner Mark Cuban, a basketball fan who made a fortune in the tech world before buying an NBA franchise at a relatively young age.
“I’m upset after talking to him,” Cubana wrote in a response to ESPN. “He’ll be a big owner of jazz fans, which I find unfortunate. :)”
Smith, whose previous relationship with Jazz included sponsoring the “5 for the Fight” philanthropic patch that has raised more than $ 25 million for cancer research, deeply admires how the Miller family ran the franchise, noting that Utah ranked second in NBA victories over the previous three decades.
“I feel the responsibility of this administration,” said Smith, who still operates as CEO of Qualtrics after the company sold for $ 8 billion. “So when you say,‘ Is it a hobby or is it a business? “I really don’t know how to respond to that, because I think it’s an administration for the Utah community.
“I’ll be straight, I mean, I don’t plan to sell it, so of all the companies I have, it’s not the best. You have to do it because you’re passionate and you want to help the community and do good. We want to win and do good here in Utah. I think the Thousands have proven it, and if I can just put myself in their shoes, it’s a perfect transfer.
Smith said he expects to have to “be on a learning curve” as he takes ownership of the team, especially when it comes to basketball, expressing great confidence in Jazz’s executive vice president of basketball operations Dennis Lindsey, general manager Justin Zanik and coach Quin Snyder.
The Jazz have reached the playoffs four seasons in a row and have a core built around the All-Star tandem of Rudy Gobert and Donovan Mitchell: “a pretty fun place and a great team to take over,” Smith said.
Smith has a similar confidence in Jazz president Jim Olson and the team’s business operations, and said he has been “impressed” by some of the ideas he has heard from this side of the franchise. Driver of the development of the growing technology community of “Silicon Slopes” in Utah, Smith is particularly fascinated by the implementation of technology to enhance the fan experience and hopes to participate immediately in these aspects.
“When it comes to that, I definitely have ideas,” Smith said. “I probably don’t have that many ideas yet about, ‘Hey, this is the play that should work Quin.’ He’s teaching me. He’s pulling me away, like, ‘Hey, come sit in this meeting.’ I want you to understand the defense, and that’s how we’re going to face it. It’s amazing. It’s a whole other world. “
Smith, a father of five, said he plans to travel with the Jazz whenever possible, but joked, “I won’t be on the line of preparation with them.” He plans to find out how he can help maximize the experience of playing Jazz, in addition to being a fan of the franchise.
“We certainly feel responsible for that,” Smith said. “You’re trying to make everyone else have an amazing experience and allow this instead of doing it for yourself. I’m definitely changing shoes with Greg and the Miller family because I’ve been the one next to them, I’m just having fun with the experience, and they have been the ones who have organized the party.
“Often, you don’t enjoy it as much as you did when you’re a fan, but one of my commitments is that it won’t change. I’ll have fun.”