The 1996-97 season was easily the most successful in Utah Jazz history - at least in terms of wins and losses.

It wasn't, however, close to being the most financially rewarding for Jazz owner Larry H. Miller."Even though we went to the NBA Finals," said Miller, "we made significantly less money than we did the year before - which was less than we made the year before that."

But Miller is not complaining. He's actually one of the fortunate ones. According to NBA deputy commissioner Russ Granik, more than a third of the league's 29 teams lost money last season - up from just two or three teams that sustained losses two years ago.

So it wasn't a huge surprise to Miller last Friday when Granik and NBA commissioner David Stern told media at the league meetings that the NBA is considering imposing a player lockout next summer.

Miller hopes it won't come to that. He even said, "I will not support a lockout unless it has to happen for survival (of the league)."

Still, he realizes the possibility is real. "It's not just crying wolf," he said.

It was only last summer that a six-year collective bargaining agreement was finalized between the NBA and the National Basketball Players Association. It includes a clause that gives the league the right to effectively rip up the agreement after the 1997-98 season.

"It's something we're going to have to consider," Granik told the media last Friday. "We do believe the salary system is becoming out of whack."

The Jazz had the second best team in the league last season - and only the 19th highest payroll.

Miller has been paying for the Jazz's success this summer, though, as hefty raises were included in new pacts with Bryon Russell, Shandon Anderson, Howard Eisley, Jeff Hornacek and, most recently, Greg Ostertag, who signed a six-year deal worth $30 million Thursday.

"If five years ago I'd have known what salaries were going to be this year, I'm not sure I would have wanted to stay an owner - in fact, I'm pretty sure I wouldn't have," said Miller. "But we've found ways to make it work and, to me, in the foreseeable future, the elements of that are still there. That's a little bit of an optimistic view, but they've worked so far."

The Jazz have raised ticket prices for the upcoming season, but Miller said that additional ticket revenue will pay for only 20 to 30 percent of the increases in salaries. The other 70 to 80 percent will have to be made up elsewhere.

The NBA - unlike the other major-league sports in this country - has never lost a game to a work stoppage. A lockout next year could change that, however.

"Since (a work stoppage) has never happened before, I'd say boy it doesn't seem like a possibility," said Miller. "But since the balance is so delicate and if people get pushing too hard on the other side, it could pose a real threat."

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Interestingly - yet not surprisingly - both the owners and the players are saying that the current collective bargaining agreement favors the other side. Bill Hunter, the executive director of the players' union, has been vocal about his dislike of the current agreement. So have several high power agents, including David Falk. New union president Patrick Ewing and union vice presidents Juwan Howard and Dikembe Mutombo all have Falk as an agent - which could heat things up even more.

"There is clearly some rhetoric coming from the players association leadership saying that the players got taken advantage on this last deal," said Miller. "I've got to tell you, that's pretty inflammatory stuff, because the owners can look at how much they made individually or how much the league made collectively and show it's on a downward trend."

Miller says he's optimistic things will work out, additional revenue sources will be tapped and everyone will remain happy - and wealthy.

"The players are making a lot of money. The owners are entitled to make some money as well. This is about a reasonable return on an investment," Miller said. "There certainly is sufficient out there for both sides to prosper as long as one side or the other doesn't get greedy."

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