Dwyane Wade’s post-playing career has been nothing short of pristine. From hilariously memorable moments turned to memes, to his ever-present sense of style, to his new role in NBA media. Wade has adjusted well to life without the game. This past week, he made headlines when it was announced that he had purchased a minority stake in Western Conference-leading Utah Jazz.

However, Wade’s front office power will have to remain extremely limited given the hats he wears–that is to say, nonexistent. Per league rules, Wade is unable to engage in any sort of basketball operations because of his role in the media, the New York Times’ Marc Stein reports.

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As mentioned, Wade’s involvement with the Jazz does not preclude him from maintaining his role as an NBA analyst alongside Ernie Johnson, Adam Lefkoe, Shaquille O’Neal, Candace Parker, and the rest of the NBA on the TNT team.

Thankfully for Wade, these are charted waters both for TNT and for the realm of sports media. ESPN’s Sarah Spain–a columnist, radio host, and television analyst–is a partial owner of the NWSL’s Chicago Stars. While the scales are slightly different, similar rules and regulations apply.

Wade’s ownership is part of an expanding narrative of player ownership of teams. In January of this past year, NBPA executive director Michelle Roberts said that the next CBA may include a clause allowing players to pursue equity stake in teams. While this CBA wouldn’t take hold until the 2024-2025 season, the implications of former/current player ownership are already beginning to change the framework of sports.