Dwyane Wade buys ownership stake in Utah Jazz

Heat owner expresses disappointment ex-Miami star didn't commit to ownership stake with former team
Dwyane Wade speaks during jersey retirement ceremony with Miami Heat in 2020
Posted at 4:16 PM, Apr 16, 2021
and last updated 2021-04-16 16:16:22-04

MIAMI — Former Miami Heat star Dwyane Wade has become part-owner of an NBA franchise, but it's not the team where he spent 14-plus seasons.

The 13-time NBA All-Star has purchased an ownership stake in the Utah Jazz, becoming the latest high-profile former professional basketball great to make an investment in an NBA franchise, joining Grant Hill (Atlanta Hawks), former teammate Shaquille O'Neal (Sacramento Kings) and Charlotte Hornets majority owner Michael Jordan.

While it's good news for fans of the Jazz, it likely leaves Heat fans wondering, why not Miami?

Heat owner Micky Arison said Friday on Twitter that Miami's ownership group had discussions with him after his retirement in 2019, "but he was not prepared to commit at the time."

"Of course I am disappointed that he didn't reconsider," Arison said.

But Arison also wished Wade "good luck and much success with the Jazz."

"The respect I that I have for that organization will not go anywhere, the love that I have for the fans -- that goes nowhere," Wade told ESPN. "But this is about the next phase of my life as an investor, a businessman, an entrepreneur. For me, this is an opportunity to grow."

Wade spent the first 13 of his 16 NBA seasons with the Miami Heat, winning three NBA Finals and earning Finals MVP honors in 2006. He signed with his hometown Chicago Bulls in 2016 and spent part of the 2017-18 season with the Cleveland Cavaliers, where he was reunited with LeBron James, before returning to Miami in February 2018.

Wade is Miami's all-time leader in points, games, assists and steals. His No. 3 jersey was retired by the Heat in 2020.