Ryan Smith Makes Waves in Utah Sports with Acquisition of NHL Franchise
The sports scene in Utah has transformed dramatically with the influence of billionaire entrepreneur Ryan Smith. At the forefront of this revolution is Smith's bold acquisition of the NHL's Arizona Coyotes, which he swiftly relocated to Salt Lake City, rebranding them as the Utah Hockey Club.
The opening night of the new franchise's season was marked by fanfare and the presence of celebrities like Dwyane Wade and Gabrielle Union. Wade, a retired Basketball Hall of Fame guard and limited partner of both the Utah Jazz and the Hockey Club, expressed the novelty of the experience, saying, "I took a plane to watch hockey! Never thought I'd do that in my life." His involvement underscores the allure of Smith's vision for sports in Utah.
Smith's ambition does not stop at hockey. Together with Wade, he co-owns the Utah Jazz, having acquired the storied NBA team for $1.66 billion in 2020. This strategic maneuver cemented Smith's status as a pivotal figure in Utah's sports community, which is further amplified by his stakes in MLS' Real Salt Lake and NWSL's Utah Royals.
A driving force behind hosting the 2034 Winter Olympics in Utah, Smith has played a crucial role in the area's sporting development. His efforts culminated in a successful bid delegation in Paris, demonstrating his knack for blending business acumen with a passion for sports. His partnership with Wade embodies this dynamic, as the two navigate the cross-section of sports, business, and community engagement.
Investing in Future Talents
Meanwhile, the landscape of college basketball is also shifting, with A.J. Dybantsa, the country's top high school basketball recruit, committing to Brigham Young University. Despite speculation, Smith is not financially involved in Dybantsa’s lucrative NIL deal, rumored to be worth between $4 million to $7 million. Nevertheless, Smith's interactions with Dybantsa and his family signal his ongoing interest in nurturing talent within the community.
Smith’s personal connection to BYU extends beyond sports as he imparts business knowledge as a guest lecturer there. His involvement with the university highlights his dedication to the institution that played a significant role in his personal and professional development.
The trajectory of Smith and his ventures began with the success of Qualtrics, the tech company he co-founded. The sale of Qualtrics to SAP for $8 billion provided Smith with the capital to influence Utah's sporting landscape. His family's wealth, compounded by this deal, has not altered his work ethic or ambition. As Smith states, "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."
A Vision for Utah’s Sporting Future
Smith's impact is not confined to enhancing the athlete pipeline or acquiring sports franchises. His vision extends to urban development, actively participating in plans to rejuvenate Salt Lake City's downtown area. These initiatives complement his sporting interests and showcase his commitment to the overall growth of the community.
The evolution of Utah sports under Smith's patronage is a blueprint for other regions looking to bolster their cultural and economic appeal through sports. His private conversation with NBA commissioner Adam Silver in 2019 about NBA ownership aspirations underscores his foresight: "Use me as a laboratory for the future of NBA broadcasts," he once told Silver, echoing his readiness to innovate.
Gentry Anderson captured the excitement among Utah sports fans, remarking, "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." Smith’s presence continues to be felt, not only in boardrooms and arenas but also among the people who matter most—the fans.
With momentum from new hockey endeavors and an expanding sports empire, Ryan Smith stands at the vanguard of a burgeoning sports renaissance in Utah. From hockey rinks to basketball courts, his leadership redefines what is possible, crafting an enduring legacy in the Beehive State’s sporting narrative.