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Utah Jazz's Value Reaches $2.25B Just 2 Years After Dwyane Wade Purchased A Minority Stake In The Team

Has having Dwyane Wade as an investor been a great benefit to the Utah Jazz?

Apr 17, 2023

Donovan Mitchell Breaks Down How He Made Sure His Family Was Set With His First $1M In The NBA

While Donovan Mitchell made it to the NBA, his sports journey began elsewhere. The Cleveland Cavaliers shooting guard played baseball until the tenth grade but transitioned to basketball. It became a pivotal move as Mitchell went from playing for two years at the University of Louisville to being drafted 13th overall by the Denver Nuggets in the 2017 NBA Draft. Then, he went to play for the Utah Jazz during his rookie season, in which he inked a four-year $14.3 million contract.

Dec 27, 2022

Kevin Durant Set To Secure Big-Time Investment In Merger Reportedly Valued At $1.35B

Kevin Durant is evidently enjoying his time in the business limelight. As AfroTech previously reported, the Brooklyn Nets basketball star recently secured a two-year partnership with blockchain platform Dapper Labs’ NBA Top Shot. Now, Durant is making headlines as he’s reportedly set to become one of the major buyers in a merger agreement between ticket search engine platform SeatGeek and blank check company RedBall Acquisition Corporation, according to Front Office Sports. The merger proves to be a relief for RedBall — co-founded by Billy Beane and RedBird Capital founder Gerry Cardinale — who reportedly struggled over the past year, EssentiallySports previously reported. But clearly, hope was not lost as RedBall now has a promising footing with the latest merger reportedly valued at a whopping $1.35 billion (What a comeback). The equity rollout will include a $100 million private investment in public equity (PIPE). The beauty of PIPE financing permits prospects to be afforded the...

Oct 18, 2021

NBA's Donovan Mitchell, Clorox Pledge $1M To Prep The Superheroes We Call 'Teachers' For Success

If there’s one thing that Donovan Mitchell believes wholeheartedly, it’s that teachers make the world go round! The NBA player is the product of an educator. So, he witnessed firsthand the role that teachers play in society. Now, he’s joined Clorox’s mission to give back to those who have dedicated their time to transforming lives through education. He explains how the move is a cause that’s near and dear to him. “It means the world to me because my mom is a teacher, and we were at the same school for most of my early years. So, I grew a fond appreciation for teachers through that,” he said during an interview with AfroTech. “Seeing her work through quarantine and seeing how much time and effort was put into her craft and what she did, like spending money out of her own pocket made me go ‘man, I can only imagine what most teachers are doing on the day to day.’” According to research conducted by the Clorox® brand, 70 percent of teachers had to teach without the supplies needed...

Sep 9, 2021

Dwyane Wade Acquires Ownership Stake In Utah Jazz To Play An Active Role In The NBA Franchise

Three-time NBA champion and retired guard Dwyane Wade has just purchased an ownership stake in the NBA’s Utah Jazz as he continues expanding his basketball legacy into the business world. According to ESPN, Wade now joins a small ownership group that includes majority owner and team governor Ryan Smith, and his wife, Ashley; investor and Accel partner Ryan Sweeney; Atlassian co-founder Mike Cannon-Brookes; and the Miller family, as he plans to take on an active role in the franchise to help take it “to the next level.” In an Instagram post, Wade helped break the news with a caption stating “Proud and excited to become a part of the @utahjazz family with Ryan Smith and the rest of the amazing ownership team.” “As a businessman, entrepreneur, and investor, I bring a lot to this partnership outside of my basketball experience,” he adds. “I’m excited to help take the Utah Jazz to the next level.”   View this post on Instagram   A post shared by dwyanewade (@dwyanewade) From free-agent...

Apr 19, 2021