The Utah Jazz have agreed to be sold by the Miller family to Qualtrics founder Ryan Smith. The deal will include Vivint Arena and is pending approval from the NBA Board of Governors.
The Millers have owned the Jazz for 35 years. Larry Miller passed away in 2009 at the age of 64 with his widow Gail Miller running the team in the subsequent years.
Smith is a lifelong resident of Utah who sold Qualtrics to SAP for $8 billion.
Smith has a longstanding relationship with the franchise.