Other high-profile NBA players with ownership stakes inspired the 13-time All-Star's latest venture, and he looks forward to working alongside Jazz majority owner and governor Ryan Smith.
"This goes way beyond the dream I had to just play basketball in the NBA," Wade said. "I've seen Shaq do it in Sacramento. I've seen Grant Hill do it in Atlanta. I've seen Jordan do it in Charlotte. If this partnership is going to be anything like my relationship is with Ryan, there are going to be a lot of things that I'll want to be involved in.
"... Unfortunately, people in my community don't get this opportunity, and I do not take it lightly to have this opportunity. To make real change, this is where you have to be - at the top - and Ryan knows that. I'm thankful for him, and I know too that I bring a lot to this partnership outside of just my basketball knowledge and skills."
Wade and Smith struck a friendship after the former's retirement in 2019. The Jazz owner's investment and support for social justice issues appealed to Wade.
The three-time NBA champ's daughter, Zaya, is transgender and has spoken out on trans issues.
"We're not running away from the racial and social and LGBTQ conversations," Wade said. "I'm committed to doing the work. I talk about the LGBTQ community, which everyone knows is important to me. My daughter is part of that community.
"I don't look at this as only a Utah Jazz relationship. I look at this as a relationship that's multifaceted - business, basketball, me being able to bring Ryan into my world just as he's bringing me into his world."