Qualtrics CEO Ryan Smith Now Owns The Utah Jazz

The billionaire Ryan Smith is now the owner of the Utah Jazz.

The NBA announced on Friday that the league's board of governors approved the $1.66 billion sale between Smith and former owners Gail Miller, Greg Miller, and their family.

Smith is the co-founder and CEO of Provo-based Qualtrics, which was sold in 2018 for $8 billion. The new owner also grew up in Utah County and attended Brigham Young University, the Deseret News reported.

"I don't think there has ever been a more exciting time to be in Utah. Not only do we have a great team and organization with the Jazz, but the trajectory of the state as a whole is unmatched. There is so much opportunity here and success breeds success," Smith said in a statement.

"I grew up as a big Jazz fan, and that makes this day even more special."

Before purchasing the Jazz, Smith told ESPN he nearly put in a bid to buy the Minnesota Timberwolves but his wife Ashley stopped him.

"She was like, 'You know we're Jazz fans, right? That's what we do, and I'm not moving.' She doesn't put her foot down very often, but it was a nice reminder that I was kind of getting caught up in this other world because I liked the business side of it," he said.

The sale not only includes the Jazz, but also Vivint Arena, the NBA G League's Salt Lake City Stars, and a management agreement with the Salt Lake Bees, a minor league baseball team, KSL reported.

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