Billionaire NBA Owner Nears $900 Million Salt Lake Revamp Deal

Software billionaire Ryan Smith has big plans for his sports empire. He wants the NBA’s Utah Jazz to play in a revamped arena, flanked by bustling plazas and in the shadow of a new skyscraper.

Local lawmakers have offered $900 million to make sure that happens in Salt Lake City.

Smith Entertainment Group — owner of the Jazz, two pro soccer teams and a yet-unnamed NHL club — is proposing a makeover of the city’s downtown that includes a remodeled arena, new hotel and a residential tower that could become the city’s tallest. Residents and visitors would subsidize the development ...