Teams/Northwest Division
Utah Jazz
Ryan Smith has controlled the Jazz since December 2020, when his group bought 80% in a deal reported at $1.66B, arena included. Forbes values the team at $4.75B, and it has had three ownership groups since 1974.
Every owner since the start
- 2020-todayRyan Smith group (SEG)
Bought 80% from the Miller family in a deal reported at $1.66B, arena included. The NBA approved it on 18 December 2020.
- 1985-2020Miller family: Larry H. Miller, then his widow Gail Miller from 2009
Larry Miller bought 50% from Sam Battistone for $8M in 1985. He bought the rest in 1986 for about $14M, mostly as assumed debt.
- 1974-1986Group led by Sam Battistone
Founded the team through NBA expansion in New Orleans; fee not found. Moved it to Salt Lake City in 1979.
Value over time
- 12009 Gail Miller succeeds Larry
- 22020 Ryan Smith buys, $1.66B
Show the numbers
| Year | Forbes value |
|---|---|
| 1998 | $200M |
| 1999 | $215M |
| 2000 | $226M |
| 2002 | $225M |
| 2003 | $226M |
| 2004 | $257M |
| 2005 | $274M |
| 2007 | $342M |
| 2008 | $358M |
| 2009 | $343M |
| 2011 | $343M |
| 2012 | $335M |
| 2013 | $432M |
| 2014 | $525M |
| 2015 | $850M |
| 2016 | $875M |
| 2017 | $910M |
| 2018 | $1.2B |
| 2019 | $1.43B |
| 2020 | $1.55B |
| 2021 | $1.75B |
| 2022 | $2.02B |
| 2023 | $3.09B |
| 2024 | $3.55B |
| 2025 | $4.1B |
| 2026 | $4.75B |
| Year | Sale | Team valued at |
|---|---|---|
| 2020 | Ryan Smith group buys 80% from the Millers in a deal reported at $1.66B, arena included | $1.66B |
| 2022 | Millers sell about 10% to Arctos and a partner; one account puts the value at $2.25B | $2.25B |
Forbes valued the Jazz at $200M in 1998 and $4.75B in 2026, about 24 times as much. The biggest one-year jump was $1.065B, from $2.025B in 2022 to $3.09B in 2023; by percentage it was 2015, up 62%.
How the current owner bought it
- The sale was announced on 28 October 2020, and the NBA approved it unanimously on 18 December. Forbes valued the Jazz at $1.55B that year.
- Smith's group bought 80% and the Millers kept 20%. The contract lets the buyers purchase the rest over time, the Salt Lake Tribune reported.
- In August 2022 the Millers sold about 10% to Arctos Sports Partners and one other partner. The price was not disclosed.
- Smith agreed to honour a Miller family trust that requires the team to stay in Utah. Nothing is pending in 2026.
Partners in the team
| Partner | Stake | Who they are |
|---|---|---|
| Miller family | 20% in 2020; about 10% sold in 2022 | The sellers. They have had no say in management since 2020. |
| Arctos Partners | undisclosed | Sports investment fund; KKR completed its purchase of Arctos in May 2026. One account says its purchase valued the Jazz at $2.25B. |
| Dwyane Wade | over 1%, on Wikipedia's owners list | Former NBA star; joined in April 2021 |
| Mike Cannon-Brookes | undisclosed | Co-founder of Atlassian; joined in December 2020 |
| Ryan Sweeney | undisclosed | Partner at Accel; joined in December 2020 |
How the team is run
- Smith is governor and chairman of SEG, which also owns hockey's Utah Mammoth and the arena. Austin Ainge is team president and Will Hardy is coach.
- The team is rebuilding. It has missed the playoffs four straight seasons and went 22-60 in 2025-26, worst in the West.
- The NBA fined the Jazz $500,000 on 12 February 2026 for breaking its player-participation policy. The league said two players held out of close games were fit to play.
- It had fined the Jazz $100,000 the season before for resting a player. Smith said publicly that the two sides disagree.
- SEG is rebuilding the Delta Center for $525M, from April 2025 to about October 2027. It is part of a $900M package for the arena and a surrounding district.
Quick answers
Who owns the Utah Jazz?
Ryan Smith has controlled the Jazz since December 2020, when his group bought 80% in a deal reported at $1.66B, arena included.
How much are the Utah Jazz worth?
Forbes values the Utah Jazz at $4.75B in its October 2026 list, up 16% from $4.1B a year earlier. That makes them the 20th most valuable of the 30 teams; in 1998 Forbes put the team at $200M.
How much did the current owner pay for the Jazz?
$1.66B (Ryan Smith, 2020). Forbes now values the team at 2.9 times that price.
Who owned the Utah Jazz before the current owner?
Miller family: Larry H. Miller, then his widow Gail Miller from 2009 (1985-2020). Larry Miller bought 50% from Sam Battistone for $8M in 1985. He bought the rest in 1986 for about $14M, mostly as assumed debt.
Open questions
- Smith's own percentage, and the shares of Sweeney, Cannon-Brookes, Arctos and the Millers today: not published.
- How the 2020 purchase was financed: not found.
- Who pays for the $900M arena and district package: unverified.
- The 1986 price: $14M is the usual figure; Larry Miller's Wikipedia page itemises loans, a note and cash instead.