Millers sell the Jazz

[cowhide]

I don't know why he'd move the team... they make money... they have great support and he's a local dude. I get that Seattle is a great market but the NBA generally only move underperforming markets... the Grizzlies are much more likely to move than us.

Beside the fact that he bought the arena too. Some Jazz fans always try to create a story when the real story is that a Utah rich guy bought the team. Personally, I think it would be dumb to move the team considering how well they have done financially over the years and due to the Jazz being the main professional team in the area. I think the chances are about 1 percent the team is moved. Gail Miller isn't a spring chicken so I am not surprised that they sold the team. Greg was never that interested in the Jazz. I think he is more of a car guy.

 

[framer]

Here is reality (I went over this when the trust happened):
When Gail dies, the Jazz changes ownership. At that point, a big tax bill is due, like hundreds of millions of dollars. The trust had NOTHING to do with staying in Utah,it was just marketed that way. The trust was 100 PERCENT about trying to avoid that tax bill. Because when that tax bill hit, the Millers would be forced to sell as they don't have that cash.

So, when the trust didn't work out, they sell now, when value is the highest (before Gobert and Mitchell's contracts are signed), pay the tax now and enjoy their profits.

Wouldn't avoiding the tax bill and the need to sell the team in a fire sale do a lot to "keeping the Jazz in Utah?" Hundreds of Millions is a pretty severe shortfall for the Miller Corp. I'm not sure that they were lying, it is just that you couldn't plan on a Utah billionaire writing a single check without an "ownership group." Without this guy, trust was probably the next best option.

 

[cowhide]

I don't know why we are even freaking out about it... there are 5-6 teams that would be waaaaaaay better relocation candidates than us.

This guy apparently said owning the Jazz was his dream... I don't think the dream was to get the team and move it so that he could make some extra money and become the biggest villain in his home state.

My only concern is does he understand the NBA business and is he going to be an owner who let's his people do their jobs or is he going to micromanage like the owner from the Kings. I am glad he is a fan but sometimes that is not a good thing. lol.

 

[Joncolton]

The totally optimistic view:

1. He is fan and has a passion for the team - he's our very own Mark Cuban.
2. He made his fortune through analytics. Maybe he brings some dynamics to the team, and brings in some ideas nobody has thought of before.
3. Gail Miller wasn't going to live forever, and when Greg was in charge - he was the one who made the Jazz "Deron's team" and basically orchestrated the Sloan retirement fiasco. That DRIVE that Larry H. Miller had was not something he passed onto his kids. Finding the next LHM entrepreneur type owner is the best you could hope for.
4. Him, his wife and his brother are all from Utah. They have billions of dollars and still live here - that bodes very well for the team sticking in town for another 35 years.
5. The Jazz sold the team to someone with more money - maybe now we can go into the luxury tax and do what has to be done to win a championship.

 

[green]

Beside the fact that he bought the arena too. Some Jazz fans always try to create a story when the real story is that a Utah rich guy bought the team. Personally, I think it would be dumb to move the team considering how well they have done financially over the years and due to the Jazz being the main professional team in the area. I think the chances are about 1 percent the team is moved. Gail Miller isn't a spring chicken so I am not surprised that they sold the team. Greg was never that interested in the Jazz. I think he is more of a car guy.

IMO, the arena is huge. Owning that arena means he makes money on Taylor Swift concerts, Days of 47, etc. That could potentially make up for any additional revenue he would get in Seattle with sponsorships, higher ticket prices etc but the city owning the arena.

 

[Mongoose]

I think the NBA has changed so much that franchises like the Utah Jazz just got to take the little windows they get to go for it all. To accomplish, Jazz will need money to go probably deep into tax land for 2 or 3 seasons. The Miller's, for good reason, would have never done it. Younger dudes, Utah rooted, available cash to make a dream come true... it just might work well.
Good riddance to the Millers.

I fear that even this is optimistic, but I agree with most of what you say. The last sentence I don't like although Larry was never my favorite person after selling the Golden Eagles.

 

[cowhide]

This is such a negative world. Why in the world can't we just trust our new owner to be an avid Jazz fan without having to jump down negative rabbit holes that he's going to sell the team?

Some people like drama in life. I agree I am not worried about them leaving. Now if he hadn't purchase the Arena then I might be worried. Seattle does not want the Jazz. Then they will be like OKC and that would be hypocritical considering how they like to bash OKC for stealing their team. I would love to see Seattle get a team just not the Jazz.

 

[LoPo]

Bad news. He does and he's LOPO. Trades incoming!!!!!

Man, I wish. This is a dream for me.

And why is that bad news....

Sent from my SM-G970U using JazzFanz mobile app

 

[Vintage Jazz]

Let me state the obvious Larry Miller saved the NBA in Utah. I had season tickets back then and it was on life support. Come on they were playing home games in Vegas .
Larry being homegrown also mattered significantly as he would never sell or move in his tenure.
I see the franchise as a low chance to ever relocate. They survived all these years not being a preferred free agent destination . Would have to be a Pistons or Tampa Bay like drop in fan attendance for a few seasons to really make that viable.

 

[Handlogten's Heros]

I agree. Billionaires are not good people. Sure, once they get there they can change, but to get there...it's statistically impossible. And sacrifices have to be made. And this idea that billionaires will just start giving money away or don't care about getting more money...it's false. You don't become a billionaire by giving money away and you don't become a billionaire without pinching every penny that walks by you. They care. Didn't Gates used to send out notices to the other billionaires in the top 10 every year reminding them of where they ranked? They care. They joke about it. They want to be #1. They aren't like you and I, which is why they get there and we don't.

I don't know Billionaires... but I don't love the sentiment that the wealthy lie, cheat, and steal to get where they are. I imagine it is a lot like politicians though and its hard to stay "clean" the higher you go up the ladder.

I have personally helped many clients funded by Gates Grants that go to causes with no possible economic benefit to his companies... they are all about serving third world countries and issues they have with clean water and issues similar to that. So I don't think all of these guys are consumed with getting and keeping every last dime (I know he gets to write it off but still there is a net cost for him).

I think many wealthy folks are likely the power hungry guys that took advantage here or there... I don't agree with painting with broad strokes and saying they are all bad people or all greedy. I've known some extremely generous and fair wealthy folks... maybe they are the exceptions.

 

[Handlogten's Heros]

My only concern is does he understand the NBA business and is he going to be an owner who let's his people do their jobs or is he going to micromanage like the owner from the Kings. I am glad he is a fan but sometimes that is not a good thing. lol.

Oh fo sho... remember when Vivek wanted to play 4 on 5 and have a cherry picker or when he crowd sourced the draft and took Stauskas... or when he hired and fired 12 coaches and ended up with Luke Walton...

It can be bad... if he hires D-Will to be GM to hang out with one of his old heros we will be in trouble.

 

[Handlogten's Heros]

Sorry, had to stop there. Having a billion dollars in wealth is grotesque. Point blank, full stop. It should be the privilege of any person with such fortune to give away enough that they don’t maintain (or grow) such wealth for themselves.

I understand teams are worth billions these days and my criticism of their owners is implicit in the argument. Considering the excess that most people criticize professional sports with, it sits fine with me. Players shouldn’t be making hundreds of millions of dollars, and the only way that is fair is if owners also make less profit and have less wealth. The money that grows the league comes from people, and it is increasingly freezing out people that don’t have (or shouldn’t spend) the money from going to games or even having cable packages necessary to legally watch games. Why do they need more, any of them?

There has to be a point where wealth should be overwhelmingly seen as ****ed up. Just one billion for a person is well-beyond what is even remotely sensible or sensical, especially given the exponentiating plight of the planet and the people that inhabit it, and the subsequent necessity to do something meaningful to address it.

But sure, Bill Gates does good things with his money.

I'm just not sure what you'd like them to do. Does them building a business have to come at the expense of everyone else? Are there others that benefit from it? I get that it is absurd and they should find more ways to give back but at what level is acceptable? Can they keep $100M? That's still absurd.

They build a company are they just supposed to shut it down because it gets big and brings them a ton of wealth? What are they supposed to do with their time? What if it is something they enjoy?

I get that the excess is crazy, but I don't think it makes them a bad person or mentally flawed. My personal view is that money provides utility and there is a point for me where more money doesn't provide any meaningful benefit... so I'd likely shut down and do stuff I like... at least I think I would. My number is likely much lower than many but maybe that is why I'll never get there.

You are probably right and we should all be more altruistic.

 

[Nate505]

And though them staying is absolutely my preference, Utah doesn’t deserve a team - let alone this team - frankly.

Flame on.

You're wrong.

That is all.

 

[Hearsky]

Seattle doesn't have a modern arena.

Umm, Climate Pledge Arena?

 

[Nate505]

I'm not buying the fact he'll sell the team just to make some more money. The guy could live anywhere in the world, but he chooses to live n Utah. He must like it there. Why would he throw away all the goodwill of living in a place he likes to make more money that he doesn't need?

I mean, if you say this:

"I grew up watching the Jazz. This is the team I cheered for. I played Junior Jazz. I dreamed of playing for the Jazz, and that didn't work out. But as I was sitting there this week in the Junior Jazz program you guys started, with hundreds of kids running around, the legacy you've created is untouchable. We're all incredibly grateful for that. The Jazz are a gift to this whole community, and that's how we view it. That's 100 percent how we view this."

And then sell the team, that's some pro wrestling level heel stuff there.

 

[Handlogten's Heros]

I'm not buying the fact he'll sell the team just to make some more money. The guy could live anywhere in the world, but he chooses to live n Utah. He must like it there. Why would he throw away all the goodwill of living in a place he likes to make more money that he doesn't need?

I mean, if you say this:

"I grew up watching the Jazz. This is the team I cheered for. I played Junior Jazz. I dreamed of playing for the Jazz, and that didn't work out. But as I was sitting there this week in the Junior Jazz program you guys started, with hundreds of kids running around, the legacy you've created is untouchable. We're all incredibly grateful for that. The Jazz are a gift to this whole community, and that's how we view it. That's 100 percent how we view this."

And then sell the team, that's some pro wrestling level heel stuff there.

His wife has a successful dance studio business as well. Their roots are here... so they move the team and would almost certainly need to move because everyone in Utah would hate they ***. I could just see my wife being pissed at me for making everyone at her studio hate her.

He built billion dollar company here... he likely thinks he can increase the value of the franchise without moving.

 

[Handlogten's Heros]

Ryan's wife also "would not let him explore opportunities (to own teams) outside of Utah".

Having been married for 15 years I feel comforted by the fact that his wife seems to want to stay here.

I will make a declaration now... This team will not be moved under Ryan Smith's ownership. If he needed to do it he would sell it to someone else and let them move it.

 

[Handlogten's Heros]

One small prediction... we buy a second round pick this year as a sign for everyone to point to how committed Ryan is to the program. A "he's putting his money where his mouth is" type of gesture that DL and Locke can go on and on about.

 

[JazzyBelle]

Sad day for Jazz Nation. The Millers, And Gail specifically was great owners. The new guy seems like a fan from here so he probably will be hands on and firing people left and right and making a types of trades and turn this glorified franchise into a basement dweller with no stability.
So let's all hope he stays in background and hires a great bball mind to do his thinking. Just the thought of the Jazz owner trying to be like Cuban and be hands on scares me.

 

[JazzyBelle]

One small prediction... we buy a second round pick this year as a sign for everyone to point to how committed Ryan is to the program. A "he's putting his money where his mouth is" type of gesture that DL and Locke can go on and on about.

That be a waste of money since most 2nd rounders don't make it. Also who cares that it makes the fans see he cares. Is the goal of this franchise to win a chip or just satisfied the fans by making a types of senseless trades?