Gail Miller family selling majority interest in Utah Jazz to Qualtrics CEO Ryan Smith - Deseret News

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The Miller family is selling the Utah Jazz.

ESPN’s Adrian Wojnarowski first reported Wednesday morning that the Millers will sell the Utah Jazz to Qualtrics CEO Ryan Smith after 35 years of ownership.

After 35 years of stewardship, the Millers have entered into an agreement to sell the Utah Jazz to Qualtrics founder @RyanQualtrics, sources tell ESPN.

— Adrian Wojnarowski (@wojespn) October 28, 2020

Simultaneously, the Jazz announced that Miller will “make a virtual, special announcement today from Vivint Arena in Salt Lake City, Utah” at 10 a.m, but later confirmed the news in a press release.

The announcement said Vivint Arena, the NBA G League’s Salt Lake City Stars and “management” of the Salt Lake Bees are also included in the sale.

Both Smith and the Miller family have been linked in recent months to the sale of Utah Soccer Holdings, which includes Real Salt Lake, Utah Royals FC and Rio Tinto Stadium, among other properties, but it’s unknown if the two are related.

“I have known Ryan for several years and admire the values by which he and his wife Ashley live their lives,” Gail Miller said in a statement. “They have such love for and a connection to Utah and this team. Because of our friendship and several high-level conversations over the years, Ryan recently approached our organization to inquire about the possibility of purchasing the Utah Jazz and some of our other sports and entertainment properties.

“After much soul searching, lengthy discussions and extensive evaluations of our long-term goals, my family and I decided this was the right time to pass our responsibility and cherished stewardship of 35 years to Ryan and Ashley, who share our values and are committed to keeping the team in Utah. We have every confidence they will continue the work we have undertaken and move the team to the next level. Our family remains invested in the success of the Utah Jazz and these businesses, and we will retain a minority interest.”

Said Smith in a statement, “The Miller family has had an unbelievable impact on countless people through the Utah Jazz and the other organizations they run. We all owe a great debt to the Miller family for the amazing stewardship they have had over this asset for the past 35 years. My wife and I are absolutely humbled and excited about the opportunity to take the team forward far into the future — especially with the greatest fans in the NBA. The Utah Jazz, the state of Utah, and its capital city are the beneficiaries of the Millers’ tremendous love, generosity and investment. We look forward to building upon their lifelong work.”

Miller addressed in the announcement the legacy trust the Jazz franchise was put into in 2017, which was designed to ensure the team would stay in Utah.

“I am fully persuaded that with this sale, the objectives of the trust will be honored, and the new owners have made the same commitment to keep the team in Utah,” Miller said. “This transaction will unlock opportunities that will allow us to continue our stewardship in ways not possible until now. Our mission is and will continue to be to Enrich Lives.”

The announcement said the sale is expected to be completed by the end of the year. Smith will also purchase The Zone Sports Network in a separate transaction.

Larry H. Miller Dealerships, Larry H. Miller Real Estate, Prestige Financial Services, Salt Lake Bees, and Megaplex Theatres will remain part of the LHM Group.

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Gail Miller family selling majority interest in Utah Jazz to Qualtrics CEO Ryan Smith - Deseret News
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