The financial terms of Wade's investment into the soccer team were not disclosed.
Wade joins an ownership group that includes David Blitzer and partners at Smith Entertainment Group. He becomes the latest current or former NBA player involved in MLS ownership joining the likes of James Harden (Houston Dynamo), Steve Nash (Vancouver Whitecaps), Kevin Durant (Philadelphia Union), and Magic Johnson (LAFC).
Wade took to Twitter to announce his involvement with the team.
Last Wednesday, the MLS board of governors approved the sale of Real Salt Lake to David Blitzer and the Smith Entertainment Group. In addition to the soccer team, the deal also includes Rio Tinto Stadium, the RSL Academy, the MLS Next Pro team Real Monarchs, and the club's Zions Bank Training Center.
Previously, the team was owned by Dell Loy Hansen who put the team up for sale in August 2020 after racist comments he made came to light. From there, the league oversaw the sales process of the team in January 2021 because the team could not procure a buyer.
Joining Real Salt Lake’s ownership group is the latest move by Wade to expand his business portfolio. Back in April, Wade bought an ownership stake with the Utah Jazz. Also, Zaire Wade, Wade's son currently plays with the Salt Lake City Stars, the G-League affiliate of the Utah Jazz Salt.