financing since the $8 million was two times his net worth and the team had never made a profit in its entire 11-year lifetime. The Jazz lost $17 million over 11 years and only lost $1 million during its best year. He was able to get a commitment from a consortium of six local banks with just seven minutes before the expiration of the deadline imposed by Jazz owner, Sam Battistone, on April 11, 1985. Battistone had difficulty getting the NBA to approve the purchase, primarily due to Miller's relatively low net worth. Miller became a co-owner of the Utah Jazz when his purchase of a 50% interest in the team was approved by the NBA on May 10, 1985. 14 months later, Miller was about to sign a deal to sell his interest in the Jazz for $14 million but backed away at the last moment because it would result in the team moving to Minnesota. Miller realized that the Jazz operated in the smallest market in the NBA and doubted that Salt Lake City would ever have an NBA team again. Miller decided to turn the Texas option in his purchase contract and buy-out Battisone. On June 16, 1986, he purchased the remaining 50% from Battisone. To make the deal work, Miller offered to forgive a $3.5 million loan he had made to Battisone and assume payments on a loan that he was using that money to pay, assume another $1 million that Battistone and a partner had defaulted on, a $5.5 million note that would be payable to StratAmerica. In addition, $2 million in cash, the use of a Chrysler New Yorker demo car for Battisone's wife and a Chrysler Caprice demo car for each year Battistone until the StratAmerica note was paid, and ten Jazz tickets until the StatAmerica note was paid were offered. Battisone demanded a Corvette and ten additional tickets but otherwise liked the deal. Miller immediately agreed. Miller's payments on debt related to his purchase of the Jazz then amounted to $333,000 per month. Miller made an effort to hire players of good moral character for the Jazz. Under his ownership, even the dress of players was tightly regulated. For example, players were required to wear shoes of the same color, all socks had to extend four inches up the ankle, shirts had to be tucked in, shoes had to properly tied at