Adnan Khashoggi, 48, the jet-about Saudi Arms merchant and investor, along with his brother Essam, last week agreed to pay $8 million for a half-interest in the Utah Jazz basketball team. The Jazz deal caps a string of Khashoggi investments in Salt Lake City. The state's conservative political and social environment appeals to the Khashoggi family, which during the past decade has pumped $77 million into an array of Salt Lake City development projects, including a $600 million downtown office complex called Triad Center.
The basketball agreement calls for Khashoggi to pay $6 million to cover the outstanding debts...
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