Gail Miller and her family announce deal to sell controlling stake in Utah Jazz to Qualtrics founder Ryan Smith

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Gail Miller, owner and president of the Larry H. Miller Group of Companies (LHM Group), and the Miller family announced today that they have entered into definitive agreements to sell a controlling interest in Utah Jazz and other sports and entertainment properties. entertainment to tech entrepreneur Ryan Smith, co-founder of Utah-based Qualtrics.The current transaction includes Utah Jazz, Vivint Arena, the National Basketball Association (NBA) Salt Lake City Stars’ G League and the management of Triple-A Salt Lake Bees baseball affiliate.

Smith has been a strong business partner of Utah Jazz for many years and has been co-creator of the “5 For The Fight” jersey patch, the first philanthropic jersey patch in North American history professional sports. 5 For The Fight has raised more than $ 25 million since the patch partnership was announced just three years ago.

“I’ve known Ryan for many years and admire the values ​​he and his wife Ashley live their lives with,” said Gail Miller. “They have such a love and connection to Utahd this team. Due to our friendship and several high profile conversations over the years, Ryan recently reached out to 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, long discussions, and in-depth assessments of our long-term goals, my family and I have decided it is a good time to pass our responsibility and our beloved 35-year-old stewardship to Ryan and Ashley, who share our values ​​and are committed to keeping the team in Utah. We are confident that they will continue the work we have started and take the team to the next level. Our family remains invested in the success of Utah Jazz and these businesses, and we will keep a minothe interest of the community. ”

Upon closing of the transaction, Smith will become Governor of the NBA of Utah Jazz and its affiliates, and he will have final decision-making authority for all business and basketball operations related to the team and other assets. included in this transaction. Steve Starks, in addition to his role as Managing Director of the LHM Group, will be an advisor.

“The Miller family has had an incredible impact on countless people across the Utah Jazz and the other organizations they run, ”Smith said. “We all owe a great debt to the Miller family for the incredible the stewardship they have had over this asset over the past 35 years. My wife and I are absolutely humble

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