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Arctos buys stake in NBA's Jazz to bring more sports to Utah

Arctos Sports Partners, a private equity fund, has purchased a minority stake in the Utah Jazz.

Considered to be the world’s largest private equity fund focused on sports, Arctos has over $5 billion in client capital spread across multiple funds. If the NBA approves the deal, Jazz will be his fourth NBA franchise in which Arctos is known as an investor. The fund manages his 13% stake in the Golden State Warriors, 17% stake in the Sacramento Kings, and HBSE, the parent company of the Philadelphia 76ers. The size of Arctos’ Jazz ownership has not been disclosed. NBA bylaws require ownership to be at least 1% of the team.

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Jazz’s majority owner is tech billionaire Ryan Smith, who bought the club two years ago with his wife Ashley for $1.66 billion.nd Among NBA teams, according to the annual report Sportico evaluation.

Bringing Arctos on board should help Smith achieve its long-term goal of making Salt Lake City an entertainment and sports hub.Arctos already owns a portion of MLS’ Real Salt Lake. , Jazz owner Smith Entertainment Group (SEG) purchased a portion of it in January. A new deal between Arctos and his SEG includes Vivint Arena with Jazz performing.

“As SEG continues to build the state’s professional sports landscape, our partnership with Arctos brings Utah’s strong commitment to sports and deep connections across all major sports leagues,” said Smith. increase. “His wife Ashley and I are passionate about Utah and working to build organizations that are a force that brings our community together. Few things do that more powerfully than sports.”

Other members of Jazz’s ownership group include Ryan Sweeney, a partner at venture capital firm Accel. Mike Cannon-Brookes, co-founder of enterprise software company Atlassian. The family of former majority owner of the franchise, Larry Miller. Retired NBA All-Star Dwyane Wade joined the Jazz last year. Smith and his fellow owners are his NBA’s youngest, and Smith is considered one of the major forces in Utah’s burgeoning tech industry, dubbed “Silicon Slope.”

Arctos has invested in approximately 30 entities, including 6 MLB teams, 3 NHL teams, European football clubs and Elevate Sports Ventures.

“We are excited to work with Ryan and the team to explore opportunities to increase sports-related opportunities across the state and build a premier sports and entertainment center here,” said Arctos partner Chad Hutchinson. “We believe in Utah and all the amazing things happening in this state, and we believe SEG is poised to be the next big sports and entertainment group.”

(This story has been updated in the caption and second paragraph to indicate that Arctos owns stakes in four NBA teams and that the NBA still needs to approve the deal.) rice field.)

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