Utah Jazz

Report: Dwyane Wade purchases ownership stake in the Utah Jazz

You can add Dwyane Wade to the list of former NBA players turned team owners.

According to ESPN's Adrian Wojnarowski, Wade has purchased an ownership stake in the Utah Jazz. He'll be joining majority owner Ryan Smith with views on taking an active role in the team and the region

"This goes way beyond the dream I had to just play basketball in the NBA," Wade told Wojnarowski. "I've seen Shaq (O'Neal) do it in Sacramento.

"I've seen Grant Hill do it in Atlanta. I've seen (Michael) Jordan do it in Charlotte. If this partnership is going to be anything like my relationship is with Ryan, there are going to be a lot of things that I'll want to be involved in.

"... Unfortunately, people in my community don't get this opportunity, and I do not take it lightly to have this opportunity.

"To make real change, this is where you have to be - at the top - and Ryan knows that. I'm thankful for him, and I know too that I bring a lot to this partnership outside of just my basketball knowledge and skills."

Wade joins a list of former players turned owners that includes the aforementioned O'Neal, Hill and Jordan. Magic Johnson had a four-percent stake in the Los Angeles Lakers but has since sold it back in 2010.

Details on how much stake Wade actually has in the Jazz are unclear, but the league has a bylaw that requires ownership stakes to be at least one percent of the team.

The Jazz currently have the best record in the league at 41-14 with 17 games remaining on their schedule.

William Hill US has the Jazz +750 to win the championship this season.

More from NBA.com

NBA Foundation grantee spotlight: The Collective Blueprint
NBA Foundation grantee spotlight: The Collective Blueprint
NBA.com Staff
Jaren Jackson Jr., Kevin Porter Jr. and Shai Gilgeous-Alexander are among the leading MIP candidates for 2021-22 NBA season
Our picks for this season's Most Improved Player
NBA.com Staff
Washington Wizards trade acquisitions from the 2021 offseason
Wizards depth chart for 2021-22 season
Yash Matange
Washington Wizards
Are retooled Wizards ready to take next step?
Yash Matange
Toronto Raptors rookie Scottie Barnes
Raptors rookie Barnes says he 'couldn't be happier'
Scott Rafferty
Bradley Beal and Spencer Dinwiddie will play a big part in the Washington Wizards' hopes of reaching the postseason in the Eastern Conference.
What to make of the new-look Wizards
Kane Pitman
More News