Jazz owner Gail Miller agrees to sell majority stake in team

29 Octobre, 2020, 05:52 | Auteur: Adelaide Bullion
  • John Stockton and Larry H. Miller of the Utah Jazz

"I believe 5 For The Fight is an inspiring cause and one which we can all be proud to support", Gail Miller said previous year when the sponsorship was extended.

"We are grateful for the opportunity to deepen our partnership with the Utah Jazz", Smith said past year.

For the past 35 years, the Miller Family has been in control of the organization, helping turn them into one of the more consistent winning franchises in the league (as well as one of the Bulls biggest rivals in the 90s).

Gail Miller, the owner and chair of the Larry H. Miller Group, said that she's known Smith and his wife Ashley for while, and he apparently approached them about a possible sale. 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".

According to Forbes, Smith's real-time net worth is $1.3 billion. They have such love for and a connection to Utah and this team. Larry and Gail Miller bought 50 percent of the team in May 1985 to prevent it from leaving Utah, then bought the remaining half the following year.

Smith, a Utah native and longtime corporate partner of the Jazz, said in a statement that he and his wife are excited to take over stewardship of a Utah institution.

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"The Miller family has had an unbelievable impact on countless people through the Utah Jazz and the other organizations they run", said Smith.

"There's no question that we have had a long and rewarding journey these last 35 years", Miller said, growing emotional as she spoke. "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 National Basketball Association", he added. "We look forward to building upon their lifelong work".

FILE - In this June 7, 2014, file photo, Utah Jazz owner Gail Miller speaks during a news conference introducing Quin Snyder as the new Utah Jazz head coach, in Salt Lake City.

"Much attention has been given in recent years to my putting the team in a legacy trust".

The Jazz announced on Wednesday that "definitive agreements" are in place with Smith on the sale of the team, as well as the home of the Jazz - Vivint Smart Home Arena. 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.

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