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.
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Timestamps:
(0:00) Intro
(00:42) Journey and Transition into Sports Ownership
(13:35) Challenges and Insights into Sports Management
(20:00) Business Perspectives and Valuations
(29:56) Media Consumption and Branding
(46:24) Ownership Logistics and Business Views
(01:03:48) Branding Importance and Assets Acquisition
(01:07:39) Reflections and Concerns
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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 that 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 as a mechanism 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 exceeding 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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Really enjoyed this – as a Jazz fan based in the UK it’s exciting to see this team get wider recognition. Make it easier to get merch in Europe though Ryan!
La forma de hablar del dud de la camisa blanca es insoportable. No puedo seguir escuchándolo.
I’M NOT SURE IF I HAVE EVER MET RYAN, BUT AS FAN AND PERSONAL ACQUAINTANCE WITH BOTH OF THE TWO FORMER JAZZ OWNERS, AND A FIRST FIVE MEMBER OF DAVE CHECKETTS BRAIN CHILD, THE JAZZ 100 CLUB NEARLY 40 YEARS AGO, I AM IMPRESSED WITH THIS INTERVIEW. UTAH IS VERY, VERY FORTUNATE TO HAVE SUCH A CAPABLE, AND VISIONARY OWNER OF ITS PREMIER SPROTS ASSET. OF COURSE SEAT PRICES ARE INFLATIONARY HIGH, SALARIES RIDICULOUS, AND TOO MUCH POLITICS FROM SOME QUARTERS, BUT THE DECISIONS BY RYAN, DANNY AINGE, AND THE REST ARE VERY PROACTIVE AND IMPRESSIVE. I LOVE THE JAZZ, WATCHED US FALL SHORT FROM THE FRONT ROW TWICE IN THE FINALS , BUT THOSE YEARS WERE LOTS OF FUN. I FOR ONE LOVE THAT WE WERE IN THE HUNT, PLAYED HARD, HAD PLAYERS THAT APPRECIATED THE COMMUNITY, RESPECTED THE CULTURE MOST THE TIME, AND GREAT UTAHNS BOTH NATIVE BORN, AND TRANSPLANTS LIKE SAM BATTISTONE, FRANK LAYDEN, MARK EATON AND OTHERS MADE TREMENDOUS CONTRIBUTIONS TO OUR QUALITY OF LIFE AND ENTERTAINMENT. I AM EXCITED TO WATCH THIS TEAM, AND ACTUALLY WOULD LOVE TO SEE A NUGGETS TYPE, OLD CELTICS TEAM OF MANY GREAT PLAYERS KNOCK OFF THE SUPERSTARS WITH TEAMWORK, DEPTH, TRADITIONAL BASKETBALL SKILLS AND ASSISTS. I MAY BE NAIVE, BUT I STILL THINK TEAM OVERCOMES SUPERSTAR MANY TIMES. KIND OF LIKE THE RYDER CUP EXAMPLE, OF SETTING EGO AND SELFISHNESS ASIDE AND BRINGING OUT THE BEST OF TEAM MEMBERS. GREAT INTERVIEW, THANK YOU. UTAH PRO SPORTS IS IN VERY CAPABLE HANDS.
Great interview. Lots of laughs. Really insightful answers. I actually did receive some happiness too, 😂
Ryan Smith for Governor and then U.S.A President. "STRAIGHT OUTTA UTAH"
It definitely feels like the Jazz are in good hands under his leadership. He makes good choices.
You and your wife have already proven to be excellent stewards for the Jazz Ryan. What a great time to be a fan. Jazz rule. Thanks again.
Thanks for the new Jazz+ product. It’s an incredible value, especially, with the tickets and merchandise factored in.
I consume all my media on Apple products in St George so Jazz+ is a perfect option.
Very insightful Mr.Smith. You’re a hero
Outside of the highlighter rebrand, Ryan has been a change the org has needed to adapt to the future.
I did not love the Ainge addition, but man, I was wrong. Hardy has been a tremendous hire. The culture the front office has developed shows on the court.
People sell this team short. I can't wait to watch this team prove the doubters wrong.
The NBA is at a crossroads. The future will depend upon if the owners can collectively make wise decisions.
So glad he’s the owner of the Jazz🔥