The NBA's Board of Governors unanimously approved the sale Friday of the Utah Jazz to a group led by technology entrepreneur Ryan Smith, ending the Miller family’s 35-year run as owners of the franchise.
The deal includes Vivint Arena, the team’s G League affiliate and management of a Triple-A baseball club. Part of the sales agreement calls for the team to remain in Utah.
“Ryan Smith is a forward-thinking, community-minded entrepreneur and business leader who will be a fantastic addition to our league,” NBA Commissioner Adam Silver said in a statement.
FILE - In this Jan. 23, 2017, file photo, Utah Jazz owner Gail Miller speaks during a news conference in Salt Lake City. The NBA's Board of Governors unanimously approved the sale Friday, Dec. 18, 2020, of the Utah Jazz to a group led by technology entrepreneur Ryan Smith, ending the Miller family’s 35-year run as owners of the franchise. (AP PhotoRick Bowmer, File)
Smith is a cofounder of the Utah-based firm Qualtrics, which was sold to SAP for $8 billion in an all-cash deal finalized last year.
He expressed excitement in a statement released through the team. “I grew up as a big Jazz fan, and that makes this day even more special," said Smith, whose wife, Ashley, is also part of the ownership group. "The Jazz have a phenomenal leadership team who will continue to guide the organization. We are all committed to building, and to building in Utah.”
Larry and Gail Miller bought 50% of the Jazz in May 1985 for $8 million, then bought the remaining 50% the following year for $14 million. Forbes, in its annual valuation of franchises, said the Jazz were worth $1.55 billion earlier this year. The Miller family will retain a stake in the franchise.
The Jazz have the NBA’s third-best record since the 1985-86 season, their .588 winning percentage in that span trailing only San Antonio (.633) and the Los Angeles Lakers (.596).
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DETROIT (AP) — The Detroit Red Wings retired Sergei Fedorov's No. 91 jersey, honoring the Russian great more than a decade after he was inducted into the Hockey Hall of Fame.
“Detroit is home, always been — no matter where I was,” he said Monday night.
Fedorov left the city in 2003, signing with the Mighty Ducks of Anaheim. Five years earlier, as a restricted free agent, he signed an offer sheet to play for the Carolina Hurricanes, but the Red Wings matched the offer and he stayed in Detroit.
“Leaving Detroit when I did was a huge mistake," the 56-year-old Fedorov said during a pregame ceremony before Detroit hosted Carolina. “That is on me.”
The dynamic, two-way center became the ninth player to have his jersey retired by the Red Wings, joining Hall of Famers Gordie Howe, Nicklas Lidstrom and Steve Yzerman.
The Red Wings drafted Fedorov in the fourth round in 1989, and helped him defect from the Soviet Union in 1990 while he was in country for the Goodwill Games.
After Fedorov got off the team bus in Portland, Oregon, he saw Red Wings executive Jim Lites in the hotel lobby — reading a newspaper as planned — and they slipped out of a side door, into a limousine and onto a private plane.
“I always admired the courage,” said Yzerman, a former teammate and the franchise's current general manager.
Fedorov, who was part of the Red Wings' “Russian Five," which helped Detroit win Stanley Cups in 1997 and 1998. He was an All-Star six times over his 13 seasons with the franchise and won a third Stanley Cup in 2002.
He became the first European to win the Hart Trophy as NHL MVP in 1994. He was the first Red Wing to win the award since Howe in 1963 — and is the last player to win it for the franchise.
“The rare combination of skill, speed and power made him one of the best all-around players in the game’s history,” Yzerman said.
Fedorov went on to play for the Ducks, Columbus and Washington and had 483 goals and 1,179 points over his career.
Fedorov ended his career during the 2008-09 season with the Capitals, playing with fellow Russian and Olympic teammate Alex Ovechkin.
“One of the best players I've ever played with,” Ovechkin said in a video tribute.
Fedorov was inducted into the Hockey Hall of Fame in 2015, his first year of eligibility.
The Red Wings retired Yzerman's and Lidstrom's jerseys shortly after they retired, but their ownership was more deliberate about sealing Fedorov's legacy with franchise.
Fedorov said he was humbled to earn a place alongside “those legends” near the roof in Little Caesars Arena.
“It's surreal — in the best way,” he said, choking up.
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CORRECTS TO SERGEI FEDOROV NOT SERGEI FEDEROV - Former Detroit Red Wings player Sergei Fedorov, left, waves to fans during his jersey retirement ceremony before an NHL hockey game against the Carolina Hurricanes, Monday, Jan. 12, 2026, in Detroit. (AP Photo/Ryan Sun)
CORRECTS TO SERGEI FEDOROV NOT SERGEI FEDEROV - Former Detroit Red Wings player Sergei Fedorov, right, stands with his wife Karina, left, and children Alexandra and Viktor during his jersey retirement ceremony before an NHL hockey game against the Carolina Hurricanes, Monday, Jan. 12, 2026, in Detroit. (AP Photo/Ryan Sun)
CORRECTS TO SERGEI FEDOROV NOT SERGEI FEDEROV - Former Detroit Red Wings player Sergei Fedorov reacts during his jersey retirement ceremony before an NHL hockey game against the Carolina Hurricanes, Monday, Jan. 12, 2026, in Detroit. (AP Photo/Ryan Sun)
Former Detroit Red Wings player Sergei Federov watches during his jersey retirement ceremony before an NHL hockey game against the Carolina Hurricanes, Monday, Jan. 12, 2026, in Detroit. (AP Photo/Ryan Sun)
CORRECTS TO SERGEI FEDOROV NOT SERGEI FEDEROV - Former Detroit Red Wings player Sergei Fedorov, right, stands with his wife Karina, left, and children Alexandra, second from left, and Viktor, second from right, during his jersey retirement ceremony before an NHL hockey game against the Carolina Hurricanes, Monday, Jan. 12, 2026, in Detroit. (AP Photo/Ryan Sun)
