Real Salt Lake, Utah Royals sold to ex-Jazz owners for $600m

The Larry H. Miller Household, at the side of Miller Sports activities & Leisure, has acquired a controlling curiosity in MLS facet Real Salt Lake and the NWSL‘s Utah Royals from David Blitzer and Ryan Smith’s Smith Leisure Group, the organizations introduced on Friday.

A supply confirmed to ESPN that the sale worth is round $600 million. The payment was first reported by The Athletic.

Along with the 2 groups, the acquisition of a majority curiosity in Actual Salt Lake Holdings consists of MLS Subsequent Professional facet Actual Monarchs, the RSL Academy, America First Discipline, Zions Financial institution Stadium and the Zions Financial institution Coaching Middle.

Blitzer will stay a minority investor, whereas Smith bought his stake in Actual Salt Lake Holdings.

The Miller household have an extended historical past in sports activities possession, having owned the NBA’s Utah Jazz from 1985 to 2020. That now appears to be like to proceed with the MSE’s foray into soccer.

“We’re humbled once more by this chance to grow to be stewards of those franchises and to construct on the sturdy basis and legacy that has been constructed over these a long time,” mentioned Steve Starks, CEO of the Larry H. Miller Firm, at Friday’s information convention.

“And we could not be happier that David Blitzer continues to be invested and a associate within the membership. This partnership got here collectively actually simply as a result of we share a dedication to constructing group and tradition championship groups in a values-based manner.”

Blitzer and Smith, at the side of Arctos Companions, bought RSL and the Royals again in January of 2022 for a reported $400 million from Dell Loy Hansen, who was pressured to promote after it was reported that he had made racist comments.

“I’m …very excited to work with everybody and proceed to construct on the successes of RSL and the Utah Royals and in the end convey championships to Utah,” Blitzer mentioned. “That is what we had been all gunning for. The Millers clearly function on the absolute highest requirements in each manner, ethics and group and doing enterprise the proper manner and selling the game and well being and youth.”

MLS commissioner Don Garber welcomed the information.

“The way forward for Actual Salt Lake is in nice palms with the Miller group and David Blitzer,” Garber mentioned in a press release. “The Millers have a long-standing dedication to group, youth sports activities, and sound enterprise operations, and now we have a confirmed historical past with David, one of the achieved sports activities homeowners on the earth.

“Collectively, this group is completely positioned to strengthen the membership and develop soccer in Utah and the area.”

The appreciation within the sale worth hints at a major improve in valuation for the Royals. Blitzer and Smith acquired an possibility for an NWSL growth workforce in 2022 for simply $2 million. Since then, the valuations of NWSL groups have skyrocketed, with Denver paying an expansion fee of $110 million, whereas the San Diego Wave were sold for $120 million. Neither of these outlays concerned a stadium or coaching facility, which the Royals have already got.

“This highly effective partnership between the Miller household and David Blitzer will elevate girls’s soccer in Utah and proceed to construct fandom for the Royals FC,” mentioned NWSL commissioner Jessica Berman in a press release.

“Miller Sports activities & Leisure has persistently demonstrated dedication to constructing sport and group each on and off the pitch, aligning with our values on the NWSL – and we welcome this new possession group to the league.”

Steve Miller, chairman of the Larry H. Miller Firm board of administrators, will function chairman and governor for Actual Salt Lake, with David Blitzer serving as alternate governor. Miller may also function chairman and governor for the Utah Royals FC, with Starks serving because the alternate governor.

“Our household is happy to affix Actual Salt Lake and the Utah Royals,” Miller mentioned. “We love the expansion of soccer as a family-friendly and unifying expertise in our state. We’re grateful to associate with David Blitzer and the opposite devoted buyers in constructing these sturdy groups.”