Business of Sport

Business of Sport Ep.9: Ryan Smith, Owner @ Utah Jazz & Real Salt Lake, 'We're going to bring the NBA Championship to Utah'

Sep 26, 2023

Ryan Smith, Owner of Utah Jazz & Real Salt Lake, discusses transitioning from tech to sports ownership, building a sustainable organization, creating a culture of passion, team building on and off the court, the business of the NBA, transforming media strategy, short-form content and personalized experiences for fans, streaming revenues for champion players, investing in Utah, and owning and managing a sports team.

59:06

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Episode guests

Ryan Smith

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Episode notes

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Quick takeaways

The podcast highlights the changing dynamics of owning sports teams and the impact of individual owners versus funds or wealth funds.

Ryan Smith's journey from being a successful tech founder to becoming the owner of the Utah Jazz showcases the importance of seizing opportunities and pursuing passions.

The Utah Jazz's decision to control their media rights and create their own content distribution model demonstrates the significance of controlling distribution and providing a better viewing experience for fans.

Deep dives

Ownership of Sports Teams and the Changing Landscape

The podcast episode discusses the changing landscape of owning sports teams, focusing on the increasing prices of franchises and the changing dynamics in the market. It explores how these factors affect the purchasing and ownership of teams, including the role of individual owners versus funds or wealth funds. The episode highlights the importance of allowing different funds and wealth funds to enter the market, as it can significantly impact the game. The discussion revolves around the NBA and its ownership structure, but also references other sports leagues like MLS and Premier League to provide further insights.

Introduction

2min

Transition from Tech Founder to Sports Team Owner

22min

Transforming Media Strategy for the Utah Jazz

3min

The Popularity of Short-Form Content and Personalized Experiences for Fans

3min

Streaming Revenues and the Future of Champion Players

22min

Investing in Utah: Growth, Potential, and Lifestyle

2min

Owning and Managing a Sports Team

5min

This week, we are delighted to welcome Ryan Smith. Ryan is the owner of the NBA’s Utah Jazz, and co-owner of Real Salt Lake in the MLS. He is also founder and executive chairman of Qualtrics, an experience management software company he built from the ground up, and the co-founder and chairman of Smith Entertainment Group.

Ryan and his wife Ashley purchased the Utah Jazz in late 2020 as part of the launch of Smith Entertainment Group (SEG), which also includes the Delta Center, SEG Media, Real Salt Lake (MLS), the Utah Royals (NWSL - coming in 2024), America First Credit Union Field, Salt Lake City Stars (NBA G League), Utah Jazz Gaming (NBA 2K League), Real Monarchs (MLS NEXT Pro), and other Utah-centric business ventures.

On today’s show, we discuss:

From tech to sports ownership:

How to apply learnings from business and entrepreneurship into a sports environment.
What does it take to buy an NBA franchise and how to make sure you can run a sustainable organisation without compromising on success?
Building a culture everyone can get behind and the importance of passion to drive performance.
What are the responsibilities of an owner? How to build a team on and off the court to match your ambitions.

Utah Jazz and the NBA:

The business of the NBA and franchise development: is team ownership a good way to spend your money?
Ryan’s passion for sport in Utah and using it to build value in the state.
How the ownership model has changed: a rise in price means we are seeing more ‘group’ acquisitions rather than wealthy individual control.
Fan experience is everything. The importance of building an occasion that is tailored to exceed the expectations of everyone in attendance.
New media deals at the local level to take control of content distribution and access.

The rise of MLS

Messi’s contract with Inter Miami has changed the game for MLS. How are the other franchises gaining from his participation?
A new age of athlete contracts: how a deal with Apple and global promotion takes the product to a new level.
From owning the Jazz to Real Salt Lake. The importance of David Blitzer to Ryan’s ownership and how he manages his time between the two.
The opportunity offered by the security of the franchise system vs the open league that is great for competition but not for overall asset value.

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