NBA's Utah Jazz Sold To Software Co. Qualtrics' Co-Founder

Law360 (October 28, 2020, 5:00 PM EDT) -- The co-founder and CEO of management software company Qualtrics has agreed to buy the NBA's Utah Jazz from its longtime owners, the two sides said Wednesday, marking the league's first ownership change since Alibaba Group co-founder Joe Tsai acquired a 49% interest in the Brooklyn Nets back in 2018.

Financial details were not disclosed, but multiple media reports peg the deal's value at $1.66 billion. The sellers are the Miller family, including Gail Miller, owner and chair of the Larry H. Miller Group of Companies, or LHM Group. Under the terms of the transaction, Ryan Smith, who co-founded Utah-based Qualtrics and...

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