Why Jazz owner Ryan Smith is selling Real Salt Lake to the Miller Family

When David Blitzer purchased Real Salt Lake in 2022, he brought on Utah Jazz owner Ryan Smith and the Smith Entertainment Group as his local partner.

“I wanted to do it with somebody who I felt was the perfect partner,“ Blitzer explained then.

As part of the deal, SEG provided security, ushers, and other personnel for RSL and the Utah Royals soccer clubs.

On Friday, though, the Smith Entertainment Group sold 100% of its stake in the teams in the transaction that gave majority ownership to the Larry H. Miller Co. and former Utah Jazz owner Gail Miller.

Blitzer, meanwhile, will keep a minority portion of his stake in the club.

Smith released a statement congratulating Miller family matriarch Gail Miller on the purchase.

“We are glad that soccer is staying in Utah, and Gail Miller is an ideal local steward to lead Utah’s professional soccer franchises moving forward. We will always be strong supporters of the clubs,” the statement read. “Smith Entertainment Group has been thrilled to be part of the journey growing Real Salt Lake and bringing professional women’s sports back to Utah with the Utah Royals alongside incredible partners like David Blitzer, our amazing players, and our loyal fans.”

Why did the SEG sell its minority stake?

Smith Entertainment Group had the right of first refusal to become RSL’s majority owner, according to a source with knowledge of the sale. In the end, though, the Smiths decided to pass on the chance, citing their work running the Jazz and the Utah Hockey Club.

“With so much growth on the horizon for Smith Entertainment Group — from enhancing the success of our major sports franchises with the Utah Jazz and Utah Hockey Club and supporting the reimagination of downtown Salt Lake City to running the nation’s largest youth basketball program and recently launching a youth hockey program – now is the right time to tighten our focus on the NBA, NHL, and other areas where we can make the biggest impact on our state, our community, and the world of sports,” Smith said.

Renovations at Delta Center are expected to begin this month, with further development of the downtown sports and entertainment district in the years to come. The Smith group is also planning on opening the practice facility for the Utah Hockey Club — which will also gain a new name — before hockey season reopens in October.

The Miller group, meanwhile, just opened The Ballpark at America First Square in Daybreak for the Triple-A Salt Lake Bees, and is working to develop the Power District in the Fairpark neighborhood of Salt Lake City in hopes of attracting a Major League Baseball franchise.