The Jazz Will Play In Utah

The billionaire businesswoman who has owned the Utah Jazz and its arena for decades announced Jan. 23 she has transferred her shares to a trust that should keep the team and its home arena in the family for generations.

AP Photo / Rock Bowmer – Vivint Smart Home Arena

Gail Miller, the owner and chairwoman of Larry H. Miller Group of Companies, announced that the team and arena will be held by a legacy trust. Miller and her late husband Larry bought the team in the ’80s and built the arena in the early ’90s.

Vivint Smart Home Arena is currently receiving $125 million in renovations that will see its capacity increase from 19,911 to 20,400. Salt Lake City provided $22.7 million in tax breaks to help fund the upgrades.

The board of directors for the trust will consist of six family members, including four of her children and one grandchild. Miller will remain the trustee until her death, at which point ownership will move to the board.

At that point the family will not benefit materially from the trust, the Salt Lake Tribune reported officials stating.

“We view the legacy trust literally and figuratively as passing the ball and all it stands for to future generations of our family members, fans and employees,” Miller said at the press conference.