Utah Jazz Rumors
Gail Miller, owner of the Larry H. Miller Group of Companies, today announced ownership of the Utah Jazz and Vivint Smart Home Arena have been transferred into a Legacy Trust in order to keep the franchise in Utah for generations. This unprecedented action will help to ensure the Jazz are always a vital part of Utah and represent the state around the world.
“As a family, we have always considered the Utah Jazz a community asset and it has been our privilege to serve as stewards of this team for more than 30 years,” said Miller. “There have been many opportunities to sell and move the franchise, but from the day Larry and I purchased the Jazz our goal was to keep the team in Utah. The Legacy Trust will help to ensure this commitment is kept for generations to come.”
With the ownership transfer to the Legacy Trust, the Miller family’s stewardship along with all management functions and operations of the Jazz, one of the most consistent and stable teams in professional sports, will remain intact. According to Miller, the Jazz will continue to have the financial resources to attract top talent and further its pursuit of becoming a championship-caliber team. While the Legacy Trust will be managed by current and future generations of the Miller family, the trust will not provide any material benefit to the family from the Jazz, and ownership of the franchise will be held collectively by the trust.