The Miller family will be selling their portion of its ownership of the Utah Jazz according to a recent statement made by the family on Wednesday.
News of the sale was announced after the Smith Entertainment Group revealed that Arctos Sports Partners purchased a minority share of the Jazz several days ago. Reportedly, Arctos Sports Partners is planning on bringing a third major league sports team to Utah alongside the Jazz and Real Salt Lake but there is no additional information on that plan as of now.
Despite their decision to sell a portion of their ownership, the Miller family affirmed that they will remain committed to the advancement of sports and entertainment throughout the state of Utah. They also say that they have treasured their stewardship of the franchise and all of its strong supporters.
ESPN's Adrian Wojnarowski reports that the Millers have agreed to sell their portion of the Jazz to Smith for $1.6 billion-plus
