Ryan Smith's ownership of the Utah Jazz has evolved into a multibillion-dollar project reshaping the franchise and Salt Lake City itself. Six years after purchasing the team for $1.66 billion, Smith Entertainment Group is spearheading a massive sports, entertainment, and culture district downtown. The Jazz open training camp this week, aiming to field a competitive roster after a challenging end to the 2025-26 season where they lost their final four games, including a 156-137 defeat to the New Orleans Pelicans on April 8, 2026.
Smith's investment extends far beyond the NBA roster. The franchise's value has more than doubled since 2021. A new practice facility is under construction in Sandy, and the Delta Center just finished the second phase of a major three-year renovation. Smith told reporters he is incredibly optimistic about the NBA's future. "I'm so bullish on the NBA and where we're headed." Smith said. His group is actively exploring adding other sports franchises, including baseball and Premier League soccer, to Utah's landscape.
But the immediate focus remains on building the state through sports. "I think we're pretty focused about like right now currently it's Utah and what can we do with sports to build the state of Utah," Smith explained. He sees sports as the ultimate anchor tenant for broader development. This vision comes as the Jazz prepare for what is likely their final season training at the Zions Bank Basketball Campus.
David Carter, principal at The Sports Business Group, said Smith and his colleagues are having a clear impact on how Salt Lake City is viewed globally. "Through his business interests he is attempting to make money and build equity by generating revenue off the extraordinary use of sports and entertainment to build brands, especially that of the region," Carter stated. He noted that the Jazz are a central part of elevating sports as a major component of the city's identity.
Carter observed that outsiders now see Salt Lake City as a global player in sports. The growth has been remarkable. This shift is a far cry from 30 years ago when the Jazz were globally known solely because of stars like Karl Malone and John Stockton leading them to two NBA Finals. Today, the ambition is to create a lasting infrastructure that draws international attention year-round.
The on-court product is in a rebuild phase, with recent results highlighting the challenge. They fell 134-109 to the Phoenix Suns, lost 122-113 to the Cleveland Cavaliers, were beaten 140-106 by the Houston Rockets, and ended the season with that high-scoring loss to the Pelicans. You can review the full schedule and track progress on our schedule page.
The goal now is to translate the massive off-court investments into a winning basketball team. Smith believes the pieces are coming together. The new facilities and district development aim to attract top talent and create a vibrant environment for players and fans. The Jazz's first home game of the new season is set for October 23 in the renovated Delta Center. Success will be measured not only in points and assists, but in how the team catalyzes the broader transformation of its city.
