Heat owner ‘disappointed’ Dwyane Wade purchased stake in Jazz

Dwyane Wade announced on Friday that he has purchased a stake in an NBA team, but that team was not the one with which he won three championships. Miami Heat owner Micky Arison admits he is not thrilled about that.

After Wade shared his big news, Arison took to Twitter to both congratulate the Heat legend and address the question many have asked — why didn’t Wade buy a stake in his former team? Arison said the Heat spoke with Wade about joining their ownership group when the 13-time All-Star retired in 2019, but Wade was not ready to commit at that time.

“I want to congratulate Dwyane on his recent announcement,” Arison wrote. “We had discussed having him join our ownership group after his retirement but he was not prepared to commit at the time. Of course I am disappointed that he didn’t reconsider. Having said that I wish him good luck and much success with the Jazz. To me Dwyane will always be a HEAT lifer.”

Wade also addressed the Heat questions.

“The respect I that I have for that organization will not go anywhere, the love that I have for the [Heat] fans — that goes nowhere,” he told ESPN. “But this is about the next phase of my life as an investor, a businessman, an entrepreneur. For me, this is an opportunity to grow.”

The biggest factor in Wade’s decision to buy into the Jazz was his relationship with majority owner Ryan Smith. The two developed a close relationship after Wade retired, and Wade said that is what made him want to be involved in Utah.

Of course, there were also some issues between Wade and Miami’s brass when he left the team in 2016, but Wade later returned and finished his career with the Heat. It’s unlikely that any of that tension contributed to his decision. He simply views the situation in Utah as a better one for him.