Atlassian Co-Founder and Rich Lister Mike Cannon-Brookes is the youngest current owner of a US National Basketball Association team and pays millions to own a piece of Utah Jazz

The tech entrepreneur, with an estimated net worth of $ 1693 billion, is said to have paid hundreds of millions along with US venture capitalist Ryan Sweeney, general partner of US venture capital company Accel, to become a minority member of the team, while the founder of survey software company Qualtrics, Ryan Smith, the majority owner is

Friends for a decade, lifelong Utah jazz fan Mr Smith reached out to Mr Cannon-Brookes after buying a controlling stake in the basketball team for $ 1 in late October, $ 66 billion from longtime owner Gail Miller

Speaking to AFR Weekend, Cannon-Brookes said he played basketball as a kid in the 1990s and recorded the games on a VCR to watch on a Sunday

“It was probably pretty clear a few years later at 15 when I switched from A to B team that I wasn’t going to do the NBA as a player” ?? he joked

â ???? But I kept watching and Atlassian had a basketball team that played pick-up in the local leagues in Sydney and now my nine year old son is playing and we have the basketball ring in the garage in the backâ ????

There are currently nine Australians in the NBA This makes Australia the second most represented international country after Canada with 16

Before joining the Cleveland Cavaliers, Australian Dante Exum played for Utah Jazz and current jazz player Joe Ingles is also an Australian

The Jazz has won the second most games of any NBA team, including nine division titles and two Western Conference championships, and recorded 16 seasons with more than 50 wins in the 2019-20 season for the fourth consecutive year the playoffs a

Mr. Cannon-Brookes met Qualtrics founder Mr. Smith in 2010, not long after he received VC funding from Mr. Sweeney’s Accel

He had been asked by Accel to provide a reference when Mr. Smith was considering acquiring Atlassian as an investor in Qualtrics. They had a call and then met at various Accel events over the years

The friends have teamed up to build bootstrap tech companies outside of Silicon Valley, with a focus on culture and values ​​

With Mr. Cannon-Brookes spending more time in Utah in the past five years and Mr. Smith making more trips to Australia (where Qualtrics hired its first employee in 2015), the two spent more time together and when Mr. Smith convinced the Miller family In order to sell him the majority stake in Jazz, he knew that he wanted to get Mr. Cannon-Brookes on board

“I said” Hey Mike, I know this is crazy, this call is even crazy, but it happens “,” ???? “Mr. Smith tells AFR Weekend

“I didn’t want a bunch of other people to come in, I just made two calls and Mike said in his honor he was there”

“It’s like relieving Mother Teresa in Utah”We’re already under pressure, Mike and I are used to it, but that’s a different level. The way the league works there are cycles. There’s also a little bit of luck, a little bit of timing and you have to be strategic and just go ahead ????

According to Cannon-Brookes, the NBA is the world’s most forward-looking sports league when it comes to technology

After starting streaming in 1995, it has amassed a huge global audience of more than a billion viewers, and it now has an esports league as well

“The global growth of our game is reflected in the addition of Mike Cannon-Brookes as the first NBA Australian to own a team”NBA Commissioner Adam Silver said Mike’s involvement is another huge milestone for us. We look forward to this new era of franchise leadership with jazz and the contributions that group will make to the leagueâ ????

Mr. Cannon-Brookes said the basketball federation has built a strong connection with the tech community over the past several years

“At the owner level, there is a long history of entrepreneurs and a small number of family owners”Mr. Cannon-Brookes said

â ???? If you look at the past 10 years, most of it is technology ownership. Entrepreneurial DNA is very deep, as is technical DNA

Mr. Cannon-Brookes and Mr. Smith agreed that they didn’t need to change the way the team worked. Equally, both strive to keep their relaxed t-shirts, hoodies and hats and their pragmatic attitudes

Mr. Cannon-Brookes said his role in owning the team is primarily to support Mr. Smith and that they would focus more on the long-term needs of the team than on short-term wins

“We are thinking about what it will take for the next decade to continue to be competitive and to be a franchise or team that is culture-centered and doing good things for the US”Community, ???? he said

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Mike Cannon-Brookes

World News – AU – Utah Jazz: Mike Cannon-Brookes is the first Australian to own an NBA team

Source: https://www.afr.com/technology/mike-cannon-brookes-becomes-first-aussie-to-own-an-nba-team-20201217-p56ofp