From CNBC: 2024-11-20 15:57:45

Salt Lake City has become a sports hub, with the addition of an NHL team after the Utah Hockey Club relocated from Phoenix. The city also boasts the NBA’s Utah Jazz, MLS’s Real Salt Lake, and NWSL’s Utah Royals. Tech billionaire Ryan Smith is a key figure in solidifying Salt Lake City’s status as a sports market. The city will host the Winter Olympics in 2034.

Smith’s interest in adding an NHL team to Salt Lake City was backed by Commissioner Gary Bettman, who believed the city was ripe for expansion. Surveys showed strong support for a new team, especially in hockey. The Utah Hockey Club’s inaugural season has seen sellout crowds at every game, with record-breaking merchandise and beer sales at the Delta Center.

The NHL’s expansion to Salt Lake City was actually a relocation of the Arizona Coyotes due to arena issues. Ryan Smith’s $1.2 billion purchase of the franchise led to renovations at the Delta Center to accommodate the Utah Hockey Club. Smith is investing in facilities to support the team, aiming for 17,000 seats with unobstructed views in the next three years. Smith Entertainment Group officially acquired The Shops at South Town in a local suburb with plans to build a permanent training facility by 2025. The ownership group flew team members and families from Arizona to Salt Lake City after the deal closed. The group hosted an event at the Delta Center for three days, and real estate agents helped find homes for everyone.

Ryan Smith, founder of Qualtrics, has been a driving force in bringing a new sports team to Utah. Known for his tech savvy, Smith has invested in multiple teams, including the Utah Jazz and Real Salt Lake. His ownership has helped boost fanbases, sponsorships, and revenue for these teams in the Utah market.

Smith’s deep ties in the community have made him a successful owner of multiple sports teams in Utah. The Utah Hockey Club has already signed major sponsorship deals with companies like Delta Air Lines, American Express, and Coca-Cola. Despite having less capacity than other NHL franchises, the team is on track to be a top revenue earner this season.

Utah has a long history of supporting sports teams, with fans showing strong knowledge and enthusiasm for hockey. Smith’s investments in the Utah market have further solidified the area’s reputation as a sports hub. The success of the Utah Hockey Club and other teams under Smith’s ownership is a testament to the community’s passion for sports.



Read more at CNBC: Utah Hockey Club is beefing up Salt Lake City’s roster as a sports hub