$1.75 Billion to $3.46 Billion: Dwyane Wade’s Midas Touch Proves Potent for Utah Jazz

Miami Heat legend Dwyane Wade is always ahead. It isn’t surprising for the champ to take a comfortable spot in the business world. However, what’s surprising is how he keeps crossing the boundaries and conquering them too. He headed for the wine industry and started his own brand. But after celebrating an illustrious 16-year NBA career, Wade knew that this was not his limit. From being one of the greatest basketball players, Wade inched toward the broadcasting world. He signed a deal with Turner in 2019 and then went on to host a game show, The Cube. At the same time, he was slowly learning more about the business world ready to make a transition. But amidst all, he never forgot about his role in making this world a better place. And his efforts have just begun to pay off. 

The Flash is striving! After his retirement, Wade decided to take an active role as an owner in the sports world. Before buying a minority stake in the WNBA team, Wade decided to hold minority ownership in the Utah Jazz in 2021. With that, he is part of the group of majority owners Ryan Smith, Ryan Sweeney, Mike Cannon-Brookes, and more names. In just two years, the value of the team rose to almost 28.5 % and continues to make progress. When Wade joined the company, it was valued at $1.75 billion and soon the number went up to $2.25 billion. And it is currently valued at $3.46 billion. This is an unbelievable win for Wade and the rest of the owners. 

A post by the Boardroom just broke the news to the fans. It is captioned, “On April 16, 2021, after news broke that @dwyanewade had joined Ryan Smith’s ownership group, the 13x All-Star took to social media:” If people are doubting how far you can go, go so far that you can’t hear them anymore! Second act activated.” Exactly three years later, the Utah Jazz have already doubled in value. Flash stays winning.”

Not just for Wade, but this constant growth has been advantageous for the team too.

Dwyane Wade’s consistent long stride in the business world

There were some who frowned upon Wade for not joining his former team Miami Heat. But the idea to join Jazz’ ownership was something proposed by Smith during one of the golf sessions at San Clemente, California. It was just the beginning for him. Following this, Wade bought a minority stake in Real Salt Lake of the MLS. Smith and Ryan Sweeney also joined him in his venture into the soccer business. 

After this comes his dream to own a stake in his hometown sports team. He merged it with his aim to support women’s games. He made history as he bought a stake in Chicago Sky and joined the list of athlete investors in the WNBA. The Sky is the second most valued team after the Seattle Storm.  In an interview with ESPN, the 3x NBA Champion said,  “Instead of tweeting out and saying ‘go support the W,’ instead of showing up at the game and supporting, I wanted to take it to that next level, and this was the next level for me.”

Last year was truly historic for the champ. He was inducted into the Hall of Fame class of 2023. Wade extended the festivities to this year too. His production company, 59th & Prairie Entertainment produced the short film ‘The Barber of Little Rock,’ which was nominated for Oscars. In association with the Pahlmeyer family, the champ launched Cellars in 2014. Currently, his business portfolio includes names of entertainment, food, wine, and more. He earns a great amount from his deals with Stance, Budweiser, Hisense, Mars Reel, Li-Ning, MISSION, BallerTV, 800° Woodfired Kitchen, and D. Wade Burgers.

Furthermore, he also owns business deals with his wife Gabrielle Union such as Proudly and more. Certainly, the Miami Heat champion has been putting in all the work and continues to dream and realize the impossible.