The Utah Jazz are one of the most stable franchises in the NBA, and that stability traces directly back to ownership.
Since October 2020, the team has belonged to Ryan Smith, the Utah based tech entrepreneur who founded the software company Qualtrics, along with his wife Ashley Smith.
Their group, Smith Entertainment Group, ended more than three decades of control by the Miller family and has since expanded into hockey, real estate, and a full downtown sports district in Salt Lake City.
This article breaks down exactly who owns the Utah Jazz today, how Ryan Smith built his fortune before buying the team, what the franchise is worth heading into 2026, and whether a sale of the Jazz is realistic given the record breaking Los Angeles Lakers deal that recently shook up the entire league.
| Utah Jazz Quick Facts | |
| Owner | Ryan Smith and Ashley Smith (Smith Entertainment Group) |
| Ownership Since | October 28, 2020 |
| Purchase Price | Reported $1.66 billion |
| Previous Owner | Miller family (since 1985 and 1986) |
| 2026 Forbes Valuation | Approximately $4.1 billion to $4.35 billion |
| Home Arena | Delta Center, Salt Lake City, Utah |
| CEO of Basketball | Danny Ainge |
| Sister Franchise | Utah Mammoth (NHL) |
Table of Contents
Ownership Structure of the Utah Jazz
The Jazz are controlled through Smith Entertainment Group, the umbrella company Ryan Smith created to house every one of his Utah sports and entertainment properties.
Below is a simple look at how the ownership pieces fit together.
Controlling owner and chairman of Smith Entertainment Group
Co owner and community outreach lead for the organization
Includes NBA Hall of Famer Dwyane Wade, who joined the group in 2021
Also owns the Utah Mammoth of the NHL and is developing the surrounding Delta Center sports district
A Timeline of Utah Jazz Ownership
Only two ownership groups have controlled the franchise since it moved to Salt Lake City.
Here is how that history unfolded.
Larry H. Miller purchases half of the team from founder Sam Battistone for around $8 million.
Miller buys the remaining stake for about $14 million, becoming full owner and keeping the team in Utah.
Larry H. Miller passes away and the franchise stays under his family and the Larry H. Miller Group.
The Miller family sells the Jazz to Ryan Smith for a reported $1.66 billion, ending 35 years of family ownership.
Dwyane Wade joins the ownership group as a minority investor with an active role in team business.
The Jazz are valued near $4.1 billion, and Smith Entertainment Group is midway through rebuilding the Delta Center and its surrounding district.
Who Is Ryan Smith?
Ryan Smith grew up in Utah and dropped out of Brigham Young University to build Qualtrics, an online survey and experience management platform, alongside his father Scott Smith and his brother Jared Smith.
The company grew into a major player in customer experience software and was acquired by SAP in 2019 for roughly eight billion dollars, a deal that made Smith a billionaire almost overnight.
Qualtrics later became an independent public company again, giving Smith continued wealth and influence in the tech world well beyond basketball.
According to Forbes, Smith built a fortune that allowed him to become one of the youngest controlling owners in the NBA when he acquired the Jazz at just 42 years old.
How Ryan Smith Bought the Utah Jazz
The Miller family announced in October 2020 that it would sell the Jazz, the Delta Center, and its other sports and entertainment holdings to Ryan Smith for a reported 1.66 billion dollars.
The NBA Board of Governors quickly approved the sale, and the transition closed before the 2020 2021 season began.
As part of the arrangement, Smith agreed to honor the Miller family legacy trust provision requiring the team to remain in Salt Lake City, a commitment he has repeatedly reaffirmed in public interviews.
The purchase also included the Salt Lake City Stars, the Jazz G League affiliate, along with the arena and surrounding real estate that now anchors Smith Entertainment Group operations.
Is Ryan Smith a Good Owner?
By most measures, Jazz fans and league observers view Ryan Smith favorably.
He hired respected basketball executive Danny Ainge to run the front office, invested heavily in analytics and player development, and has been open about wanting the franchise to compete for championships rather than settle for mediocrity.
Smith has also poured money into the Delta Center and community programs, positioning the Jazz as a cornerstone of Salt Lake City sports culture rather than just a business asset.
Critics note that the team entered a rebuilding phase after Smith took over, trading away stars like Rudy Gobert and Donovan Mitchell to accumulate draft assets.
Whether that strategy pays off with a championship contender remains an open question, but few dispute that Smith has been an engaged, well resourced, and locally rooted owner compared to some absentee owners elsewhere in professional sports.
Are the Jazz For Sale in 2026?
There is no indication that Ryan Smith or Smith Entertainment Group intends to sell the Utah Jazz.
Smith has consistently described his ownership as a long term, generational project centered on Salt Lake City, and he has continued expanding rather than shrinking his sports portfolio by adding the NHL Utah Mammoth franchise in 2024.
That said, the sports ownership market shifted dramatically in 2026 after the Los Angeles Lakers sold for a record 12.5 billion dollars.
Analysts covering the league told outlets such as KSL that the Lakers sale could push valuations higher across the entire NBA and tempt some owners who bought in more recently to cash out early for their limited partners.
Smith has not signaled any interest in doing the same, and the Jazz remain firmly under his control heading into the new season.
What Is the Utah Jazz Worth in 2026?
Forbes placed the Utah Jazz around 4.1 billion dollars in its most recent NBA valuations, reflecting roughly a 15 percent jump from the prior year on the back of season revenue near 340 million dollars.
Other reporting following the Lakers sale suggested the number could realistically climb toward 4.35 billion dollars or higher if the Jazz were ever put on the open market, since every NBA franchise saw its implied value rise once a single buyer proved willing to pay a record premium for a marquee team.
That valuation makes the Jazz one of the smaller market franchises in the league by revenue, yet still an enormously valuable asset compared to what Smith paid in 2020, when the purchase price was roughly 1.66 billion dollars for the team and its related real estate.
The Delta Center and Downtown Arena District
One of the clearest signs of Smith Entertainment Group commitment to Utah is the ongoing transformation of the Delta Center into what the ownership group calls a world class, dual sport venue built to host both the Jazz and the Utah Mammoth.
Renovations have unfolded across multiple off seasons, including new seating bowls, updated concourses, a new practice facility, and additional parking infrastructure surrounding the arena in downtown Salt Lake City.
The broader project ties into a planned entertainment and residential district around the arena, an investment that signals Smith intends to keep both teams anchored in Salt Lake City for decades rather than viewing them as short term assets.
Ryan Smith Growing Utah Sports Empire
Beyond the Jazz, Smith Entertainment Group made history in 2024 by bringing NHL hockey back to Utah, purchasing the former Arizona Coyotes franchise and relaunching it as the Utah Mammoth.
Pairing an NBA franchise with an NHL franchise under one ownership umbrella allows Smith to share the Delta Center, cross promote both teams, and build a year round entertainment calendar for Salt Lake City residents.
Ashley Smith has taken a visible leadership role in fan experience and community initiatives across both organizations, and coverage from outlets like Deseret News has highlighted how the couple approaches ownership as a joint, hands on responsibility rather than a passive investment.
What This Means for Jazz Fans
For fans, stable local ownership under Ryan Smith and Ashley Smith likely means the Utah Jazz are staying in Salt Lake City for the foreseeable future, with continued investment in the roster, the arena, and the surrounding neighborhood.
Compared to the uncertainty many small market teams face, the Jazz enjoy an owner who has explicitly tied his personal and business legacy to the success of the franchise and the city around it.
Fans curious how other major sports properties are structured can compare the Jazz situation to ownership of leagues like the NFL or global organizations such as FIFA, both of which operate under very different ownership models than a single controlling owner like Smith.
Frequently Asked Questions
Who owns the Utah Jazz in 2026?
The Utah Jazz are owned by Ryan Smith and Ashley Smith through Smith Entertainment Group, which purchased the team from the Miller family in October 2020.
How much did Ryan Smith pay for the Utah Jazz?
Reports at the time of the sale put the price at roughly 1.66 billion dollars, which also included the Delta Center arena and additional related real estate holdings.
Who owned the Utah Jazz before Ryan Smith?
The Miller family controlled the team for 35 years, beginning when Larry H.
Miller purchased the franchise in 1985 and 1986 and continuing under his family after his death in 2009.
Are the Utah Jazz for sale right now?
No, there is no public indication that Ryan Smith plans to sell the Jazz.
He has described his ownership as a long term commitment to Salt Lake City, even as league wide valuations rise following the record setting Los Angeles Lakers sale reported by Wikipedia.
I am Jack Neel, a mechanical engineer, researcher, and writer. I created this website to share my knowledge about different brands and products with you. I research the manufacturers behind the brands and provide you with the information you need to make smart buying decisions.