Dwyane Wade is the latest in line of NBA legends to take up franchise ownership following his purchase of a stake in the Utah Jazz. Utah have been the team to beat this season, and are atop the Western Conference standings, having undergone a takeover in October 2020. Wade plans to take an active role in the franchise and here's a look at the Dwyane Wade net worth, Dwyane Wade Utah Jazz ownership and the Utah Jazz owners.
Dwayne Wade, an eight-time All-Star NBA player with the Miami Heat, has joined the bandwagon of several hall of fame players taking up ownership in NBA teams. Wade joins Grant Hill (Atlanta Hawks), Shaquille O'Neal (Sacramento Kings) and Charlotte Hornets majority owner Michael Jordan. Magic Johnson previously had a 4% stake in the Los Angeles Lakers. According to ESPN's Adrian Wojnarowski, Dwyane Wade and Ryan Smith became friends shortly after the Heat legend's retirement from the NBA.
Legend, Leader, Businessman.— utahjazz (@utahjazz) April 16, 2021
Welcome to the Utah Jazz family 🖤 pic.twitter.com/2YgPLHrTAu
Wade wanted to understand about Smith's tech empire, including his company Qualtrics and the duo discussed the idea of teaming up as Utah Jazz owners when Smith completed a $1.66 billion purchase of the franchise in October, although the Ryan Smith net worth, as per multiple reports, is $1.5 billion. The NBA has a bylaw that ownership stakes can be no less than 1% of the team, and it is still unclear as to how much did Dwyane Wade invest in Utah Jazz. The NBA legend said that this is an opportunity beyond his dream of playing basketball and does not take it lightly as not many people in his community get it.
According to Celebrity Net Worth, Dwyane Wade has a net worth of $170 million. Much of the Miami Heat legend's net worth comes from his career as a professional basketball player in the NBA. Wade earned $198 million in salary alone during his time in the NBA and further extended his wealth with a slew of endorsements. Wade signed a 10-year, $60 million contract with Chinese brand Li-Ning.
He eventually signed a life-time deal with Li-Ning that included an equity stake in the company. Beore Li-Ning, the NBA legend had deals with Nike's Jordan and Converse. Wade has also invested heavily in real estate, splashing a massive $20 million for a massive mansion in Hidden Hills, California. He also owns a $6 million house in Sherman Oaks. The Heat legend also has a house in Miami listed for sale, for $32.5 million, eventually reducing the price to $29 million but has no takers so far.