Jazz Owner Ryan Smith Expands His Sports Empire – Deseret News

The Rise of Smith Entertainment Group: Transforming Utah’s Sports Landscape

Since the moment Ryan Smith made headlines with the $1.6 billion acquisition of the Utah Jazz in 2020, the trajectory of professional sports in Utah has taken a remarkable turn. With ambitions to expand the reach of sports and entertainment in the Beehive State, Smith and his wife, Ashley, have embarked on a journey that has left industry veterans astonished. NBA Commissioner Adam Silver has noted the rapid growth of Smith Entertainment Group (SEG), highlighting the couple’s commitment to elevating Utah’s status on both national and international stages.

A Multisport Empire

The Smiths have not only revitalized the Jazz but have also made significant strides in other sports. In 2022, they joined forces to acquire Major League Soccer’s Real Salt Lake for $400 million, and they revived the National Women’s Soccer League’s Utah Royals with a $2 million investment. Most recently, they made headlines again with the $1.2 billion acquisition of the Arizona Coyotes, marking their entry into the National Hockey League. This swift expansion has positioned SEG as a formidable player in the sports industry, rivaling established entities like Kroenke Sports & Entertainment and Fenway Sports Group.

A Fresh Perspective on Sports Ownership

The Smiths bring a unique blend of resources, professional networks, and a deep-rooted love for Utah to their ownership roles. Unlike many owners who may view their teams as mere investments, Ryan and Ashley Smith see themselves as stewards of their franchises. Their approach is characterized by a commitment to community engagement and a desire to enhance the fan experience. Delta CEO Ed Bastian praised the Smiths as trustworthy partners, emphasizing that their business dealings lead to positive outcomes.

The Legacy of Professional Sports in Utah

The history of professional sports in Utah began in 1979 when the New Orleans Jazz relocated to Salt Lake City. Initially met with skepticism, the franchise found its footing thanks to local business titan Larry H. Miller, who played a pivotal role in keeping the team in Utah. The Smiths’ journey mirrors this legacy, as they aim to champion the state and its sports culture. Their recent acquisition of the NHL’s Utah Hockey Club echoes the early days of the Jazz, as both ownership groups sought to solidify Utah’s place in the professional sports landscape.

Building a Community-Centric Sports Culture

During a recent interview at SEG’s headquarters in Provo, the Smiths shared their vision for the future of sports in Utah. Their facility, which also houses the Smash Dance Academy founded by Ashley, is a testament to their commitment to community involvement. The Smiths envision a sports culture that not only entertains but also uplifts and connects the community. They have already made strides in this direction by enhancing the Delta Center’s offerings and expanding the reach of the Jazz through innovative streaming services.

The Road to SEG: From Tech to Sports

Ryan Smith’s journey into the world of professional sports is rooted in his success as the co-founder of Qualtrics, a customer experience platform that he helped grow into a multibillion-dollar enterprise. After Qualtrics was acquired by SAP in 2018, Smith remained a significant shareholder during its public offering in 2021. His transition from tech to sports ownership was fueled by a desire to create a lasting impact in Utah, a state he and Ashley deeply cherish. Their commitment to staying local, even when opportunities arose to relocate to Silicon Valley, speaks volumes about their dedication to their home state.

A Vision for Growth and Innovation

The Smiths’ approach to SEG is characterized by a philosophy of "moving fast and building things." This mindset has allowed them to seize opportunities and expand their portfolio rapidly. They have launched SEG Media, which includes a platform for streaming Jazz games directly to fans, and are actively involved in revitalizing the area surrounding the Delta Center. Their ambitious plans include a $3 billion redevelopment project that aims to enhance the fan experience and create a vibrant community hub.

The Importance of Fan Engagement

Understanding the unique relationship between sports teams and their fans is central to the Smiths’ strategy. Ryan Smith, a lifelong Jazz fan, emphasizes the importance of listening to the community and engaging with fans on a personal level. This connection is crucial in a market where loyalty and passion run deep. The Smiths aim to create a sports environment that resonates with fans, ensuring they feel a sense of ownership and pride in their teams.

Industry Recognition and Support

The rapid growth of SEG has not gone unnoticed by industry leaders. NBA Commissioner Adam Silver has expressed admiration for the Smiths’ ability to expand their operations quickly and effectively. He recognizes the value of having a customer experience expert like Ryan Smith in the owners’ group, as it brings a fresh perspective to enhancing fan engagement. Similarly, NHL Commissioner Gary Bettman has praised the Smiths for their remarkable achievements in acquiring the Coyotes and establishing a new franchise in Utah.

Community Impact and Future Aspirations

Utah Governor Spencer Cox has also lauded the Smiths for their contributions to the state’s sports landscape. He acknowledges the historical significance of the Jazz and the transformative potential of SEG’s initiatives. The Smiths’ commitment to giving back to the community is evident in their plans for the Delta Center and the surrounding area, which aim to create a thriving environment for fans and residents alike.

A New Era for Utah Sports

As the Smiths continue to build their sports empire, their focus remains on elevating Utah’s profile in the professional sports world. Their passion for the state and its people drives their efforts to create a vibrant sports culture that resonates with fans. With ambitious plans for growth and a commitment to community engagement, Ryan and Ashley Smith are poised to redefine the future of sports in Utah, ensuring that the Beehive State remains a significant player on the national and international stages.