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Did the Millers make money last year?

According to forbes they made 120 mil in revenue last season... I imagine there was some profit made

edit: nevermind my numbers were out of date
 
Also just for informations sake: if you read LHM's book, you know that the Jazz turned a profit every single year that he was alive. Just saying.

The Jazz lost money every year before he was the owner. I think by the 2nd season he was the full owner the Jazz turned a profit.
 
MrBlue said:
Also just for informations sake: if you read LHM's book, you know that the Jazz turned a profit every single year that he was alive. Just saying.

The Jazz lost money every year before he was the owner. I think by the 2nd season he was the full owner the Jazz turned a profit.
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He also never spent as much money on salaries as Greg has been willing to the past couple of seasons.
 
The Jazz had to get a loan in order to match Paul Millsap's upfront contract. This tells me that they don't have a lot of reserve. The owners are claiming that 22 of the 30 owners lost money last year. I would bet the farm that the Jazz was one of the teams that lost money last year. I doubt the Miller's bank account can compete with the other owner's in the league. This is why this lock-out better make it easier for small markets to compete in the league. I think this lock-out will last a while.
 
The Millers are in the car business right? And the moneylending business? And own a bunch of movie theaters? I don't think there's any question they've lost money over the last 3 years. But they strike me as being a well run organization that was built to weather hard times. Not overleveraged gamblers who got caught with their pants down too badly when 2008 turned into 2009.

As for the Jazz, I'm sure they've lost money. They're a much stronger small market franchise than most given their ticket sales and loyal fanbase which keeps ratings high on their Fox contracts. But without revenue sharing, they have a cap ceiling as far as revenues they can actually generate. Their TV contract will always be substantially less than the big markets. Same with their corporate sponsorships. The difference is they don't need to tighten the belt as much to go back into the black. And whatever CBA is put in place will only help them going forward.
 
slc said:
Some of the NBA owners don't care if they lose money.
Like Cuban, etc. They have huge reserves to draw from.
They are in it to win championships.
But NBA owners cry about their collective situation.
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Most owners don't care if they lose short-term since the major profit is realized on the back end in terms of appreciation. Buy a team for several hundred million, hold for 10 years and the franchise doubles or triples in value. Whatever the Millers paid for the Jazz will be made up in spades when they sell the team and related assets. As long as cash flow isn't a problem, there's no need to fret if they "lose" $10-$15M/per. Besides, the $300M figure is what Stern WANTS us to believe. There are other revenues that aren't factored in and write-offs that probably offset a lot of that. I'm not on the side of the players but the losses are BS. I do however, favor a harder cap and a system that makes player movement more difficult - perhaps a greater difference between what the original club can offer vs. what a player can make signing with another team.
 
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