ESPN reports a deal has been struck – selling the NBA’s Utah Jazz.
Sources say Qualtrics founder Ryan Smith will pay $1.66 billion for the team and Vivint Smart Home Arena.
The 40-year-old is a lifelong Utah resident and fan. After building his company, Smith sold Qualtrics for a reported $8 billion.
Gail Miller and family announce agreement to sell majority interest in Utah Jazz and other sports and entertainment businesses to Qualtrics founder @RyanQualtrics.
— utahjazz (@utahjazz) October 28, 2020
77-year-old Gail Miller had put the team into a trust with the goal of keeping the Jazz in Utah long-term. She says the sale to Smith does just that. The NBA’s board of governors still must approve the sale.
Is a professional sports team a good investment right now? If you were to buy a team, what would it be? Has the value of the New England Patriots dropped? What major purchases are on your radar?