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

#Jimmy
Butler and the Heat are surging at the right time
Kane Pitman
j-cole-ftr.jpeg
Report: J. Cole to play in Basketball Africa League
Kyle Irving
nba-plain--a6d4467e-a881-4d6c-b142-c220565e46bd.jpeg
What's next for the Pelicans?
Kyle Irving and Scott Rafferty
hornets-heat-raptors-bulls-trail-blazers-mavericks
Guide to Play-In races in each conference
Gilbert McGregor
johnson-lavine-nbae-gettyimages
Bulls fend off Johnson, shorthanded Raptors
Gilbert McGregor
lavine-flynn-nbae-gettyimages
Running Diary: Bulls keep Play-In hopes alive with win over Raptors
Gilbert McGregor
More News