Larry H. Miller Co. is in conversations with Real Salt Lake and Utah Royals majority owner David Blitzer to buy a controlling stake in the two soccer franchises, according to multiple reports Friday.
Sports business publication Sportico, citing unnamed sources, reported that nothing had been signed and noted it was still possible the sale wouldn’t occur. It was unclear if any talks would involve the shares of the clubs owned by Jazz owner Ryan Smith, or investment firm Arctos Sports Partners. Later, The Athletic reported that talks were in an “advanced” stage, and that Blitzer would retain a portion of the teams in the current framework.
Representatives from Real Salt Lake did not immediately return requests for comment from The Salt Lake Tribune on Friday afternoon. The Larry H. Miller company declined “to comment further at this time.”
Blitzer, who also co-owns the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils, purchased Real Salt Lake from Utah billionaire Dell Loy Hansen in 2022 in a deal that valued the franchise at just under $400 million. Then, Blitzer said his purchase was contingent on having a local partner in Smith to work with in overseeing operations.
As part of the deal, Blitzer also received rights to restart a National Women’s Soccer League franchise in Utah under the name Utah Royals. The original franchise moved to Kansas City after Hansen’s tenure, but the Blitzer group received an option from the league to purchase a new expansion franchise in Utah for roughly $2 million. Franchise fees for NWSL clubs have exploded in recent years, though, as a new expansion fee for a team in Denver cost that ownership group $110 million in January.
The Larry H. Miller Company sold 80% of the Utah Jazz to Smith in 2020 after owning the franchise for 35 years, at an estimated valuation of $1.66 billion. Despite the sale, the Miller group has expressed interest in reestablishing itself in major professional sports in the state. LHM leader Gail Miller is at the head of an effort to bring Major League Baseball to Utah.
“We continue to be, in our estimation, the most prepared market for expansion,” Larry H. Miller CEO Steve Starks said this week. “Baseball is not focused on expansion right now, so there’s no formal process to go through, but when they are ready to kick that off, we believe in our best position.” Nashville, Sacramento, and Portland are believed to be other major competitors for a new franchise should the league begin expansion.
The Millers have plans in place to build a baseball stadium in Salt Lake City should they acquire a team either through expansion or relocation. Last year, the Utah Legislature approved public funding to help pay for a stadium at LHM’s Power District development along North Temple.
LHM also owns the Salt Lake Bees, the Triple-A affiliate of the Los Angeles Angels. A new ballpark hosting games for that team is slated to open on April 8 in the Daybreak neighborhood of South Jordan.
Current RSL team president John Kimball is familiar with the Miller group, as he worked for the company as president of the-then Vivint Arena until 2020.
Seasons for both Real Salt Lake and the Utah Royals have just gotten underway; RSL stands at 11th in the Western Conference, while the Royals sit ninth in the league standings.