SALT LAKE CITY, UTAH (AP) — The majority interest of the Utah Jazz is being sold to technology entrepreneur Ryan Smith, a move that when formally approved by the NBA will end the Miller family’s 35-year run as owners of the franchise.

The Jazz said Wednesday that “definitive agreements” have been struck with Smith on the sale of the team, Vivint Arena, the team’s G League affiliate and management of a Triple-A baseball club.

Smith is a co-founder of the Utah-based firm Qualtrics, which was sold to SAP for $8 billion in an all-cash deal finalized last year.