Ryan Smith Transforms Utah's Sports Landscape
In a bold move that has reshaped the sports landscape in Utah, entrepreneur Ryan Smith has acquired the NHL's Arizona Coyotes, relocating the team to Salt Lake City and rebranding it as the Utah Hockey Club. As the puck dropped for the club's inaugural season, a constellation of celebrities, including Dwyane Wade and Gabrielle Union, was on hand to mark the occasion. Wade, a retired Basketball Hall of Fame guard, is more than just a spectator; he is a limited partner in both the Utah Jazz and the newly minted Utah Hockey Club.
Wade's enthusiasm for the Utah Hockey Club was palpable during the opening night. "I took a plane to watch hockey! Never thought I'd do that in my life," he exclaimed, embodying the spirit of excitement that Smith is bringing to Salt Lake City. Smith's vision is not only a testament to his entrepreneurial acumen but also to his commitment to transforming Utah into a thriving hub for professional sports. This move marks an exhilarating chapter for Utah’s sports fans, who now have a prominent spot in the national sports scene.
Expanding the Sports Empire
Ryan Smith's sports empire extends well beyond ice hockey. As co-owner of the Utah Jazz, Smith acquired the NBA franchise for a staggering $1.66 billion in 2020, alongside Dwyane Wade. His investment in basketball is just one part of a wider sports portfolio, which includes stakes in Major League Soccer's Real Salt Lake and the National Women's Soccer League's Utah Royals.
Smith’s commitment to sports in Utah is more than financial. He has played a significant part in bringing global sporting events to the region, notably as part of the successful bid delegation to host the 2034 Winter Olympics in Utah. This achievement further solidifies Utah’s status as an international sports destination and highlights Smith's role as a visionary leader within the community.
Impact on Local Economy and Culture
Smith's involvement isn't confined to team ownership and global sporting events. He has grand plans for rejuvenating Salt Lake City’s downtown area, ensuring that Utah’s urban landscape matches the high aspirations he holds for its sports teams. Gentry Anderson, a local sports analyst, commented on Smith's impact, noting the presence of three major sports teams owned by Smith in Utah. "It's been surreal to be able to have three sports teams [four professional clubs] here now in Utah owned by someone who will come hang out with the fans," Anderson remarked.
This approachability is part of what makes Smith a beloved figure in Utah. His connection to the community is evident through his guest lecturing role at Brigham Young University, where he shares insights into the sports industry and entrepreneurship. Such interactions foster a community spirit that resonates with fans and students alike.
Entrepreneurial Roots and Future Endeavors
Ryan Smith's journey to becoming a sports mogul is rooted in his background as a tech entrepreneur. Co-founding Qualtrics and selling it to SAP for $8 billion demonstrated his business acumen and capacity for strategic growth. His approach to business — and now to sports — is driven by an ethos of self-reliance and ambition. As Smith himself noted, "No one's really given me anything in life. If you wanted something, you have to go get it. It just doesn't happen any other way."
This mentality has clearly shaped Smith's sports strategy, where he has positioned his investments as platforms for innovation. His collaborations with prominent figures, including NBA commissioner Adam Silver, suggest future developments in sports broadcasting and fan engagement. "Use me as a laboratory for the future of NBA broadcasts," Smith said to Silver, highlighting his interest in pioneering advancements in sports media.
NIL Influence and Community Engagement
While Smith has influenced many aspects of Utah's sporting scene, he remains uninvolved in certain areas such as college athlete endorsements. Recently, A.J. Dybantsa committed to Brigham Young University amid rumors of an NIL deal ranging from $4 million to $7 million. Despite Smith's close ties with the university, he has no financial involvement in this deal, maintaining a clear boundary between his professional enterprises and collegiate sports incentives.
As Utah continues to emerge as a beacon of sporting excellence, Ryan Smith's multifaceted role as an owner, innovator, and community leader underscores a transformative era in sports history. His ventures invite fans and partnerships alike to take part in an exciting journey that promises to redefine Utah's place in the world of athletics.