Future NBA Hall of Famer and current Turner analyst Dwyane Wade is making his first foray into sports ownership.

Wade has purchased an ownership stake in the Utah Jazz, per ESPN NBA Senior Insider Adrian Wojnarowski.

The former Miami Heat star befriended Jazz majority owner and governor Ryan Smith in 2019. He said his relationship with Smith played a pivotal role in forming this new business partnership:

“This goes way beyond the dream I had to just play basketball in the NBA,” Wade said, via Wojnarowski. “I've seen Shaq do it in Sacramento. I've seen Grant Hill do it in Atlanta. I've seen Jordan do it in Charlotte. If this partnership is going to be anything like my relationship is with Ryan, there are going to be a lot of things that I'll want to be involved in.”

“… Unfortunately, people in my community don't get this opportunity, and I do not take it lightly to have this opportunity. To make real change, this is where you have to be — at the top — and Ryan knows that. I'm thankful for him, and I know too that I bring a lot to this partnership outside of just my basketball knowledge and skills.”

Wojnarowski added details of Wade's financial investment in the team have yet to be revealed, though the NBA has a bylaw stating ownership stakes can be no less than 1 percent of the team.

Dwyane Wade said Smith's commitment to the community and willingness to engage in off-court issues were influential factors in his decision to buy an ownership stake. He described the new relationship as a “multifaceted” one.

Smith purchased the Jazz from the Gail Miller and family last October. The Miller family–and multiple others–own a small stake in the team. Wade will now join that group.

“Flash” said he never had ownership discussions with the Heat, though he noted his affinity for the franchise and community has never wavered. He described this new chapter with the Jazz as an “opportunity to grow.”