In a bold move that has shaken the National Hockey League's landscape, entrepreneur Ryan Smith has acquired the Arizona Coyotes and relocated them to Salt Lake City, where they’ve been rebranded as the Utah Hockey Club. This strategic shift brings another sports franchise to Utah under Smith's expanding ownership umbrella, amplifying his influence in the region's sports domain.
Smith's impact on Utah sports is undeniable, further emphasized by the star-studded opening night for the Utah Hockey Club, which saw celebrities such as Dwyane Wade and Gabrielle Union in attendance. Wade, a retired basketball Hall of Fame guard, plays a unique role not only as a limited partner in the Utah Jazz but now also holds shares in the Utah Hockey Club.
This partnership between Smith and Wade highlights a symbiotic relationship essential to Smith’s success in Utah’s sports scene. “I took a plane to watch hockey! Never thought I'd do that in my life,” Wade exclaimed, underscoring the expanding appeal of hockey within the broader sports community, something that's partially fueled by Wade's involvement.
Smith and Wade’s collaboration began when Smith, who already had stakes in Utah's major teams, co-acquired the Utah Jazz with Wade in 2020 for $1.66 billion. Demonstrating their commitment, they have since revitalized the Jazz brand and now aim to do the same with hockey.
Beyond the realm of basketball and hockey, Smith also has investments in Real Salt Lake of the MLS and the Utah Royals of the NWSL. Gentry Anderson captured the community’s sentiment, noting, "It's been surreal to be able to have three sports teams [four professional clubs] here now in Utah owned by someone who will come hang out with the fans."
Smith's ambitions go beyond increasing the sports assets in Utah; he played a pivotal role in securing Utah's successful bid to host the 2034 Winter Olympics, signifying his commitment to place Utah on the international sports map. This is just another testament to his visionary approach, driving significant growth and recognition to the region.
Aside from sports, Smith's influence extends into academia and the local tech industry. He co-founded Qualtrics, a tech company that was acquired by SAP for an impressive $8 billion. Currently, he serves as a guest lecturer at Brigham Young University, contributing to shaping future business and sports management professionals, although he is not financially involved in the high-profile NIL deal of A.J. Dybantsa, a new recruit at BYU.
Dybantsa's commitment to Brigham Young University serves as another exciting development in Utah's sporting narrative, with his NIL deal rumored to be valued between $4 million to $7 million. While Smith is a guest lecturer at the institution, he maintains no financial ties to this agreement, further emphasizing his adherence to ethical boundaries.
Smith has also turned his attention to revitalizing Salt Lake City's downtown area, pairing his love for sports with a desire to rejuvenate the local economy. This aligns with his belief that fostering community engagement and development is as crucial as financial investments.
For the NBA, Smith has offered to be a model in broadcasting innovation as he candidly shared with NBA Commissioner Adam Silver: "Use me as a laboratory for the future of NBA broadcasts." This willingness to embrace new ideas reinforces Smith’s forward-thinking ethos and his dedication to staying at the cutting edge of sports entertainment.
Ryan Smith’s journey from tech entrepreneur to a linchpin of Utah sports is grounded in determination and vision. "No one's really given me anything in life. If you wanted something, you have to go get it. It just doesn't happen any other way," he stated, encapsulating his drive to mix business success with community-oriented impact.
The transformation of the Arizona Coyotes into the Utah Hockey Club marks another chapter in Smith's dynamic career, promising an exciting future for Utah's burgeoning sports community. As more eyes turn to Salt Lake City, Smith’s ventures continue to redefine the sports landscape in Utah, fostering both athletic and communal spirit.