That means the team plans to offer a contract worth more than what Malone's other likely suitors offer -- but only marginally so. And since virtually every NBA team is over the league's salary cap and therefore restricted to spending no more than the mid-level cap exception -- worth the league's average salary, expected to be set in July at slightly below $5 million -- the Jazz's offer will be in that range, too, Miller said. That represents a radical cut from the $19.25 million Malone earned last season.

"We have the first opportunity in the history of the team to go out and sign free agents who will make a difference," Miller said. "We want to do that and also bring back Karl to finish his career in Utah. We can do both, but it's tight. We have to be careful with our money to accomplish what we want, to keep this team competitive, and Karl understands that."

The Jazz owner said he heard a television report last week that said the team planned to offer Malone around $7 million a year, but "I don't know where that number came from," he said. "We're not going to go that high. I'd walk away before I spent $7 million. . . . We owe it to the franchise to be realistic about the marketplace, and the reality is [that teams can offer] the mid-level exception."