Dwyane Wade, After $1.7 Billion Boost to Ownership Portfolio, Teases “Big Things” in Yet Another Power Move

Things have only begun to heat up for Dwyane Wade. Not just in his fashion game but in business as well. He breaks boundaries with every step he takes. As an investor, the champ has certainly many things cooking up. And the same can be said about his business partners, who enjoy equal success. Just recently, the Smith Entertainment group announced that the company acquired the National Hockey League franchise Arizona Coyotes.

Call it fate, the company had introduced a spectacular power plan to relocate the Arizona Coyotes to Utah. The promising news is that the board of governors has approved the decision. While the plan will be in action for the next season, the last name remains undecided. Notably, Wade is a business partner with Utah Jazz owner Ryan Smith, the owner of the Smith Entertainment group. The official Instagram page of Utah Jazz announced the news with a post that read, “NHL Welcome to Utah Jazz.”

Thrilled by the news, Wade reshared the post on his Instagram and wrote, “Big Congrts to my partners at SEG! Big things are happening in Utah! Yes Utah! Let’s go.”

However, as per sources, the relocation is temporary. Former Coyotes owner Alex Meruelo can get a chance to claim the franchise back if he’s able to build an arena. Despite that, both Smith and Wade seem to agree that it’s an exciting beginning. Wade and SEG Entertainment Group have ownership stakes in MLS’s Real Salt Lake. He also owns a minority stake in the NBA team Utah Jazz

Dwyane Wade’s Utah Jazz’s valuation soar to $3.46 Billion

The champ is embracing the changes with open arms. Not just business partners, but Wade and Smith share a great friendship. While Smith is a majority owner of the Utah Jazz, he convinced the Miami Heat to buy ownership stakes in the franchise. And as we can see, it turned out to be a brilliant move by the duo. The reason? The numbers and stats speak for it. After Wade joined the ownership group, the franchise has seen massive success.

The team was worth $1.75 billion when he bought the shares in 2021. After two years, it saw a massive boost with $2.25 billion. Right now, the team is worth $3.46 billion, as per The Boardroom.

“If people are doubting how far you can go, go so far that you can’t hear them anymore. Second act activated,“ Wade wrote on social media during the time he bought the shares. And after three years, he shows why. Did you know about this? Let us know in the comments section below.