The Miller family, former owners of the Utah Jazz NBA basketball franchise, have bought a controlling stake in North American soccer’s Real Salt Lake (RSL) – of the men’s MLS – and Utah Royals – of the women’s NWSL for a reported $600 million.
The deal, first reported in April, sees the Miller family’s Miller Sports and Entertainment (MSE) become the majority owner of both teams after investment tycoons David Blitzer and Ryan Smith sold their majority share.
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The deal includes RSL-affiliated properties, including the Rio Tinto Stadium in Salt Lake City, Zions Bank training center, and the RSL Academy.
Blitzer and Smith, the billionaire owner of the Jazz, have co-owned RSL since January 2022, when the pair acquired a majority share of the team through Smith Entertainment Group (SEG). The Arctos Sports Partners private equity group also joined the RSL ownership group as a minority owner.
The $600 million price paid by the Miller family, first reported by The Athletic, represents a 50% profit on the $400 million SEG paid for RSL and the rights to relaunch the NWSL’s Royals in 2025 after paying a discounted expansion fee.
Blitzer will remain a minority shareholder with the second-largest share of the clubs. Smith’s SEG, meanwhile, will no longer be involved.
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By GlobalDataSteve Miller, chairman of the Larry H. Miller Company board of directors, will serve as chairman and governor for RSL and the Royals, while Blitzer will serve as alternate governor of RSL. Steve Starks, chief executive of the Larry H. Miller Company, will serve as the alternate governor for the Royals.
As part of the deal, MSE will also partner with Blizter’s Unrivaled Sports, a network of youth sports venues and programs.
MLS commissioner Don Garber said of the deal: “The future of Real Salt Lake is in great hands with the Miller organization and David Blitzer.
“The Millers have a long-standing commitment to community, youth sports, and sound business operations, and we have a proven history with David, one of the most accomplished sports owners in the world. Together, this group is perfectly positioned to strengthen the club and grow soccer in Utah and the region.”
The Miller family sold its majority ownership of the Jazz to Smith’s SEG in October 2020, initially retaining a minority stake in the NBA franchise, but that was also bought by Smith a year later.
It is the second time the club’s ownership has changed hands since 2020, with the Miller family becoming the fourth owner of the club since it was launched in 2004 by Dave Checketts.
Checketts oversaw the club’s initial nine years before selling to US magnate Dell Loy Hansen, who took charge of the club from 2013 to 2021.
Hansen was forced to put the club up for sale under duress after being accused of using racist language in the presence of team employees. MLS took over the sales process before it was finally sold to Blitzer and Smith.
The teams were added to Blitzer’s investment and ownership portfolio that already included Crystal Palace of England’s top-tier Premier League, FC Augsburg of Germany's Bundesliga, the New Jersey Devils of the National Hockey League, and the Philadelphia 76ers of the NBA.
Outside of sports, he is a senior executive at private equity firm Blackstone Group.
