Jazz CEO Greg Miller To Step Down

4:30pm: Rigby stopped short of acknowledging the move and made it clear that whatever is taking place, it won’t affect the day-to-day operations of the Jazz, as he said in a statement that the Jazz have released.

“I can reassure fans that the Jazz are conducting business as usual and that the changes are designed to keep the LHM Group, including the Utah Jazz, intact as a community asset for future generations,” Rigby said in the statement. “We are grateful to Greg for his many contributions in supporting the Jazz, and look forward to him continuing to serve as our Governor on the NBA Board and as an active member of several NBA executive committees.  As owners, the Miller family still runs the Jazz and remains engaged and committed to building a championship-caliber team.”

1:21pm: Greg Miller, the CEO of the Miller Management Corporation that controls the Jazz, has decided to step down after a seven-year tenure, as Aaron Falk of The Salt Lake Tribune confirms (Twitter link). The news appears to have first leaked when an employee at a Miller-owned radio station mentioned the move on Twitter, as Andy Larsen of Salt City Hoops notes (Twitter link). The Jazz have yet to make an official announcement, but Mike Sorensen of the Deseret News has obtained a copy of the press release the franchise is seemingly set to deliver. Miller, the son of late Jazz owner Larry Miller, is second in command to Gail Miller, Larry’s widow, in the organization, but Greg Miller’s decision will have little impact on the Jazz, according to Jazz president Randy Rigby, as Falk writes in a full story. Miller, along with his family, will continue to be involved in signing off on player personnel moves, Falk tweets.

Miller was reportedly part of a group of decision-makers behind the hiring of coach Quin Snyder this past offseason, and he made the team’s official statement when Snyder joined the Jazz. Steve Miller, another of Larry Miller’s sons who had been president of Miller Sports Properties, is also stepping down, Sorensen reports.

The press release that Sorensen obtained indicates that Gail Miller will set up a new corporate structure with an outside board of directors. Forbes recently valued the Jazz at $850MM, pitting it as the 20th most valuable franchise in the league.