According to Forbes magazine's recently released annual valuation report on NBA teams, the Jazz — based on multiple factors including their current arena deal — are worth $297 million.

That ranks 21st among the NBA's 30 clubs, well behind the No. 1 New York Knicks ($592 million) and No. 2 Los Angeles Lakers ($568 million) but comfortably ahead of the last-place Portland Trail Blazers ($230 million).

According to Forbes, it is also well more than 10 times the amount Jazz owner Larry H. Miller paid for the franchise when he bought it more than 20 years ago — and marks the fifth straight year of increase in value for Miller's team.

Forbes reported the Jazz had gate receipts of $34 million and an operating income of $1.4 million last season — no losses, as some newspaper reports over the past several months have claimed.

Their player payroll this season of approximately $61 million, though, is well more than the $38 million it was for the 2004-05 season.

A full report on the value of the Jazz and other NBA teams appears on the magazine's Web site and in its edition dated Feb. 12.