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Ryan Smith of Utah Jazz, Utah Hockey Club launches new sports-tech investment fund

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Ryan Smith of Utah Jazz, Utah Hockey Club launches new sports-tech investment fund


Ryan Smith and Ryan Sweeney have long had a close relationship that goes beyond just their shared name.

Sweeney, a longtime venture capitalist and partner at Accel, was the first to invest in Qualtrics, the tech company that gave Smith success and the wealth to buy the Utah Jazz. When he did that in 2020, Sweeney came in as a minority owner.

Over the last two years, Sweeney has been pushing Smith to join him on their next big idea, a fund devoted exclusively to the intersection of sports and technology. Finally, he got Smith to budge.

On Tuesday, Smith and Sweeney launched Halo Experience Co., a new investment firm that the two have founded together. The two believe that their sports holdings — and specifically the experiential elements of live events — can be a backbone for their investments and help pull tech companies into that space.

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“Part of the evolution of this experience movement within sports and entertainment is that we are a microcosm of the entire economy,” Smith said. “We’re a healthcare company. The amount of money we’re spending on healthcare is insane within these sports franchises. We’re a payments company. We’re a security company for events and digital and everything else. We’re a streaming company; we have full over-air media, and we’re selling advertising.

“We are in the music industry because people are making money on live events now, not CDs like they used to. So, concerts are everything. We’re a social media company; I think 10 million followers between our brands. You look at the areas that we touch, it’s easy to be like, OK, would we be a buyer of this? Would this help us? Would it help one of our partners?”

While Smith owns the Jazz and Utah Hockey Club, along with Smith Entertainment Group, the firm will be separate from those properties, and it will not be a part of Accel, although it will operate with some of its support. Initial investors include Smith, Sweeney, Sweeney’s Accel partners investing as individuals and limited partners they declined to disclose.

The new firm, which Smith and Sweeney have nicknamed “HXCO,” plans to raise $750 million to $1 billion, Sweeney said, and already has 5-6 deals in its pipeline. The two intend to find companies that they can bring into the sports and live events ecosystem, or have a role in it and invest in them.

Halo Experience would be another example of how the sports world continues to bring in financial capital that had previously remained out of the sector. Private equity companies have started investing in North American professional sports teams in recent years, from the NBA to the NFL, and some, like Arctos Sports Partners, have even deployed funds centered around sports team ownership.

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“There’s two revolutions going on,” Smith said. “One’s definitely in AI, where every venture capital firm is, you know, doing this movement where they’re renaming everything AI, dot ai, which is real and it’s not going away. We’ve also seen this movement in sports. We’ve seen it kind of come from the inverse of what we’re doing. We’re seeing a bunch of funds being created to buy a bunch of sports teams. And I understand why. I think the background of all those people are very different. It’s private equity, it’s everything else.

“We just have a unique background. We come from tech, and we’re still young, and we’re involved. If you look at consumer spending, if you look at where things are going, if you look at what people are prioritizing, everything is around experiences right now, and you know the amount of tech plays that have to tap into that to be successful is enormous. And so we’re bringing this kind of the other way, where, for the first time ever, there’s a tech fund that has the ability to lean into tech, do it with sports on that platform.”

Sweeney believes that the sports investment market is “massive” and growing. The surge in demand for live events since the pandemic has not stopped, Smith said.

They have also seen big tech companies come into the sports world recently and get involved in media, which, Smith believes, has led to media being nationalized and no longer local. Amazon, Netflix and Apple have all grabbed portions or all of significant league media rights packages over the last five years.

The Jazz have been an example of that, as their media distribution deal has morphed in recent years from a cable regional sports network to a combination of an over-the-air channel and a streaming app, Jazz+, both of which have created different needs for technology partnerships.

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The two hope that by using their networks and their resources, they can pull companies into their orbit. The fund is going to be evaluating both early-stage and later-stage opportunities.

“This is going to be a fund that harnesses the power of sports, and it’s real, and it’s a real movement,” Sweeney said. “And as we started this conversation, you compare and contrast with a movement like AI, which gets a lot of press within the tech ecosystem right now, the size of this economy is very similar, and I would say, oftentimes less competitive, right?

“You can go disrupt it, and you can go become a player that gains significant market share relatively quickly as an investor, and that’s all you’re looking for. You’re looking for big untapped markets, and this feels like one where disruption from technology is certainly there for the taking.”

(Photo: Alex Goodlett / Getty Images)



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Game Preview: 12.14.25 vs. Utah Mammoth | Pittsburgh Penguins

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Game Preview: 12.14.25 vs. Utah Mammoth | Pittsburgh Penguins


Game Notes

Quick Hits

1) Today, Pittsburgh concludes its fifth set of back-to-back games. So far, the Penguins are 2-3-4 in back-to-backs (2-1-2 on the first night and 0-2-2 on the second night).

2) The Penguins enter today’s game ranked first in the NHL in power-play percentage (32.9%) and fifth in penalty kill success rate (84.3%).

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3) Yesterday, Sidney Crosby notched two power-play points (1G-1A), making him the 12th player in NHL history to record 600 or more power-play points.

4) Sidney Crosby’s next even-strength goal will surpass Phil Esposito (448) for sole possession of the ninth-most even-strength goals in NHL history.

5) Goaltender Stuart Skinner is 2-0-0 with a 2.00 goals-against average and a .920 save percentage in two career games versus Utah. Only Darcy Kuemper (4), Sergei Bobrovsky (3) and Lukas Dostal (3) have more wins against the Mammoth in NHL history.

FRANCHISE ICON

Sidney Crosby enters tonight’s game riding a four-game point streak (1G-4A) and has points in seven of his last eight games (6G-5A). Crosby, who has notched 1,711 points (644G-1,077A) in his career, sits just two points shy of tying Mario Lemieux’s franchise record of 1,723 points.

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When Crosby ties Lemieux, only two players in NHL history will have recorded more points with one franchise: Gordie Howe and Steve Yzerman.

The captain enters tonight’s game with six goals over his last eight games (6G-5A), and is tied for fourth in the NHL in goals.

HOME COOKIN’

Forward Bryan Rust recorded three points (1G-2A) yesterday against San Jose, giving him five points (2G-3A) over his last two games, both of which have come at home. This season, only Sidney Crosby has more points than Rust at PPG Paints Arena.

DECEMBER LEADERS

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Forward Anthony Mantha notched a season-high three points (1G-2A) yesterday against San Jose, giving him six points (2G-4A) over his last six games. Since the calendar flipped to December, only three players on Pittsburgh have more points than him (Bryan Rust, Sidney Crosby, Erik Karlsson).

POINT PRODUCIN’

Defenseman Kris Letang enters tonight’s game one point shy of surpassing Hall-of-Famer Borje Salming for the 21st most points by a defenseman in NHL history.

PENS ACQUIRE SKINNER AND KULAK

On Friday, the Penguins acquired goaltender Stuart Skinner, defenseman Brett Kulak and the Edmonton Oilers 2029 second-round draft pick in exchange for goaltender Tristan Jarry and forward Sam Poulin.

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Skinner, 27, has appeared in 23 games this season for the Oilers where he’s gone 11-8-4 with a 2.83 goals-against average and two shutouts. The 6-foot-4, 215-pound goaltender has spent his entire professional career with Edmonton, appearing in 197 career regular-season games going 109-62-18 with a 2.74 goals-against average, a .904 save percentage and nine shutouts. Skinner’s 109 regular-season wins rank fifth in Oilers franchise history while his nine shutouts are tied for fourth.

The native of Edmonton, Alberta also has 50 games of Stanley Cup Playoff experience, going 26-22 with a 2.88 goals-against average. Skinner most recently helped the Oilers reach back-to-back Stanley Cup Finals, and only eight active goaltenders have more postseason wins than his 26.

Kulak, 31, is a veteran of 611 NHL games split between Edmonton, Montreal and Calgary since 2014. The defenseman is coming off of a career year, where he tallied career highs across the board with seven goals, 18 assists and 25 points in 82 games in 2024-25. This season, he has recorded two assists through 31 games.

Throughout parts of 12 seasons in the league, the 6-foot-2, 192-pound defenseman has registered 28 goals, 99 assists and 127 points. Kulak has added three goals, 21 assists and 24 points through 98 career playoff games, including a combined 13 points (2G-11A) in 47 games over the past two years en route to back-to-back Stanley Cup Finals.

The acquisition of Edmonton’s 2029 second-round draft pick gives Pittsburgh eight selections in the 2029 NHL Draft – their original seven selections plus the Oiler’s second-round pick.

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Walker Kessler’s Desired Extension Price With Utah Jazz Surfaces

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Walker Kessler’s Desired Extension Price With Utah Jazz Surfaces


It looks like we might have a general ballpark of what type of contract extension numbers Walker Kessler was seeking from the Utah Jazz before the 2025-26 NBA season when negotiations were ongoing.

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According to a batch of NBA rumors from Grant Afseth of DallasHoopsJournal, Kessler was said to have desired upwards of $120 million in total value for his next contract, a price that Utah was seemingly unwilling to match.

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“In contract discussions with the Jazz, Kessler sought upwards of $120 million in total compensation for a long-term contract extension, sources told , but Utah was unwilling to commit to that price range,” Afseth wrote. “There was a clear gap in talks between Kessler and Utah,’ one source said.”

It’s an interesting nugget thrown into the situation is Kessler’s pending new contract, offering a bit of insight into what exactly was expected from Kessler’s camp in the negotiations for a second deal with the Jazz.

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Kessler Was Searching for $120M From Utah Jazz

Earlier this summer, it initially seemed as if the expected outcome would be for the Jazz and Kessler to hammer out a new rookie extension to ink him on for the next four-to-five years.

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But instead, Utah wanted to prioritize having that cap flexibility until next summer rolled around; ultimately leaving their fourth-year big man to play out the final year of his deal, then hit restricted free agency in 2026.

That’s exactly what would transpire, but it wouldn’t take long for Kessler’s fourth season in the mix to be quickly derailed, as he would go down with season-ending shoulder surgery just five games into the year, now leaving him to prepare for the 2026-27 campaign, and cutting a pivotal contract year short.

Before getting injured this season to be sidelined for the entire year, Kessler played five games where he averaged a career-best 14.4 points a game, along with 10.8 rebounds, 3.0 assists, and 1.8 block in just over 30 minutes a night.

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Oct 22, 2025; Salt Lake City, Utah, USA; Los Angeles Clippers guard Cam Christie (12) drives against Utah Jazz center Walker Kessler (24) during the second half at Delta Center. Mandatory Credit: Rob Gray-Imagn Images | Rob Gray-Imagn Images

It’s not exactly concrete of exactly what Kessler was searching on that new contract, but a $150 million value over the next five years would place him into the top-12 highest paid centers in the NBA per AAV.

That’s a hefty price to pay, no doubt. But for one of the more appealing young rim protectors around the league who’s gotten better every season, that might be a deal one team may be willing to pay him on the restricted free agency market, which would then force the Jazz to match that $30 million annually to keep him on their own roster.

Inevitably, the Jazz and Kessler will hit the negotiation table once again this summer as the two sides try to remain paired together for the long haul. Then, time will tell if they’ll be able to come to that long-awaited agreement to lock him into a fresh contract for what could be the next half-decade.

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Be sure to bookmark Utah Jazz On SI and follow @JazzOnSI on X to stay up-to-date on daily Utah Jazz news, interviews, breakdowns and more!



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Commentary: Recalling the Christmas of Catholic nuns and slave cabin singers

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Commentary: Recalling the Christmas of Catholic nuns and slave cabin singers


It’s not easy to pick the most memorable Christmas in Salt Lake City history.

There was, of course, that first Dec. 25 in Utah for the Mormon pioneers. They worked on Christmas Day 1847 but paused briefly for a simple feast.

The original Catholic church in Utah — the old St. Mary Magdalene on 200 East between South Temple and 100 South — hosted the city’s first Christmas midnight mass in December 1871.

The Salt Lake Tribune helped launch the tradition of downtown holiday decorating in 1945 and the old ZCMI store (where Macy’s now sits) on Main Street started decorating its windows with Christmas candy in the early 1970s. Temple Square’s Christmas light displays began in 1965.

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The Tabernacle Choir at Temple Square did not perform annual Christmas concerts until 2000. Willam Christensen choreographed “The Nutcracker” in California in 1944 but first brought it to Utah a decade later.

And memorable for all the wrong reasons, just after noon on Dec. 25, 1859, Salt Lakers had to dodge dozens of bullets from a Christmas Day gunfight that raged up and down Main Street.

Although all these holidays were unique, December 1875 stands out for me. It was the Christmas of Catholic nuns and slave cabin singers.

The Holy Cross sisters arrive

The Holy Cross Sisters had first arrived here from their convent in Notre Dame, Indiana, six months earlier. Sister Raymond (Mary) Sullivan and Sister Augusta (Amanda) Anderson traveled to Salt Lake City via train and stagecoach at the invitation of Father Lawrence Scanlan (soon to be Utah’s bishop), and more followed.

Scanlan hoped the nuns would help his fledgling Catholic community build schools and meet other human and spiritual needs. They did just that.

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A few years earlier, Sister Augusta had started her Holy Cross work as a Civil War nurse. She managed two Union army hospitals so well in the 1860s that Gen. Ulysses S. Grant exclaimed, “What a wonderful woman she is. She can control the men better than I can.”

Utah bard Gerald (Gary) McDonough’s aunt was a Holy Cross Sister, too, but a few years later. In his poem “Porch Nuns,” McDonough colorfully described the long black Holy Cross robes, also donned by pioneers like Sister Augusta.

Calling their veils “corrugated halos that circled their heads, Like broad white-walled tires,” he explained that whenever they visited his family, intrigued Latter-day Saint neighbors would emerge to watch “the giant emperor penguins, milling about the McDonoughs’ front porch.”

One can only imagine how unusual it was for the Salt Lake City Latter-day Saints to see those “giant emperor penguins” milling about downtown for the first time during the Christmas season of 1875.

That December, the women of St. Mary Magdalene church organized a fair to raise money for the new Holy Cross Hospital. A large crowd — including Catholics and Latter-day Saints — attended.

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The Tribune called it the “greatest attraction of the season,” one with music, plays, shooting galleries, “richly furnished refreshment tables,” and a “magnificent display of skillfully and delicately wrought fancy articles” for sale.

‘The Tennesseans’ perform

(Wikimedia Commons) Tennesseans concert poster shows Donavin’s original Tennessean slave cabin singers.

During the same week the grand fair was open, a popular singing group called “the Tennesseans” was in town as part of a national tour.

Contemporary newspaper articles and advertisements described the Tennesseans as “slave cabin singers” who performed “old plantation melodies and camp meeting hymns” from the South. These college students who once were slaves earned rave reviews wherever they sang.

After watching them perform, The Tribune said the widespread praise for the Tennesseans was well deserved. The Utah Evening Mail proclaimed them better than “any singers that have visited Salt Lake,” and the Deseret News called them the “most superb colored company in America.”

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(The Salt Lake Tribune) December 1875 Tribune ad for the Tennesseans’ December 1875 concerts in Salt Lake City.

One evening just before Christmas, right after the Tennesseans had finished a concert at the old Salt Lake Theatre, they stopped by the fair. To the crowd’s delight, they sang a couple of songs.

And then they did something that made the Christmas of 1875 one of the most memorable in Utah history. The former slaves serenaded the Holy Cross Sisters.

The Tribune reported that the Tennesseans sang some of “their finest melodies” to honor “Mother Augusta for her services in checking the Negro massacre at Fort Pillow during the war.” The Utah Evening Mail called the impromptu concert “an expression of gratitude” to the Holy Cross Sisters whose “humane services in aiding to suppress the Fort Pillow massacre” and whose “uniform devotion to the relief of the soldiers” would never be forgotten.

About the massacre

(Wikimedia Commons) A hand-colored 1892 print of the Battle of Fort Pillow by Kurz and Allison, a well-known Chicago firm specializing in colorful and dramatic chromolithograph prints of American historical events. The original is in the Library of Congress.

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In April 1864, Confederates massacred hundreds of Black Union soldiers stationed at a fortress the rebels had conquered in Tennessee. Sister Augusta cared for the surviving Fort Pillow victims at a nearby hospital she supervised.

It was difficult work.

Sister Augusta’s journal describes the appalling conditions of that hospital when she arrived: “Although we were tired and sick for want of sleep, there was no rest for us. We pinned up our habits, got brooms and buckets of water, and washed the bloodstained walls and scrubbed the floors. … The hospital was full of sick and wounded, but after some days, we succeeded in getting it comparatively clean.”

Notre Dame President Father William Corby — the chaplain of the Irish Brigade that famously fought at the Battle of Gettysburg — noted the full measure of Sister Augusta’s devotion: “The labors and self-sacrifices of the [Holy Cross] Sisters during the war need no praise here. Their praise is on the lips of every surviving soldier who experienced their kind and careful administrations.”

The grateful Tennesseans also remembered and thanked the Holy Cross Sisters with the gift of music. I cannot say for certain just what they sang 150 years ago in Salt Lake City during that most unusual Christmas of 1875. But I like to think that as the stars and the moon bathed the Wasatch foothills with a soft white light, the lovely lyrics of one song in particular — an old spiritual also born on a Southern plantation — rose gently into the crisp winter air and echoed off the snow-covered Oquirrh slopes, perhaps for the first time:

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When I was a seeker,

I sought both night and day.

I asked the Lord to help me,

And he showed me the way.

Go tell it on the mountain,

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Over the hills and everywhere,

Go tell it on the mountain,

That Jesus Christ is born!

(Courtesy photo)
Writer and attorney Michael Patrick O’Brien.

Note to readers Michael Patrick O’Brien is a writer and attorney living in Salt Lake City who frequently represents The Salt Lake Tribune in legal matters. His book “Monastery Mornings: My Unusual Boyhood Among the Saints and Monks,” was chosen by the League of Utah Writers as the best nonfiction book in 2022. His new holiday novel, tentatively titled “The Merry Matchmaker Monks of Shamrock Valley,” will be published in time for Christmas 2026. He blogs at theboymonk.com.

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