I'm sorry, but that's silly. Sports team purchases are almost always financed with debt. There's absolutely no reason to believe that Fox Sports, or anyone for that matter, would need to check under couch cushions to scrape together 2 billion on day one. I think we're still missing the point, here. I found a present value calculator online that allows you to calculate the present value of an annuity. Essentially, this calculation allows you determine the value today of a group of future payments given a specific rate of return. Now the actual present value of the payments will vary depending on the details of the payments, but even without those it's a very informative exercise. What I found is that a yearly payment of 270 million dollars (this seems to be a common midpoint in reports I have seen), at an 8% rate of return (I pulled this out of my ass, but it's pretty healthy), for 25 years is worth 2.8 billion dollars. No matter how you look at it, Fox Sports just paid more than the cost of the franchise for the rights to broadcast some of the team's games. I don't understand how you can really think that's business as usual. It's completely bizarre. If you're curious to know more, here's a brief definition and explanation of the present value concept: http://www.investopedia.com/terms/p/present-value-annuity.asp#axzz2DfR9MQrF I'm aware all sports franchise buys are financed with debt and that if FoxSports wanted to, they have the means to arrange that debt to buy the Dodgers. My point was maybe they didn't want to take on that debt and/or allocate available equity/capital in a debt financed deal towards a buy as they may see it more valuable to keep their capital/equity available for other business ventures or to expand their existing business. You realize they will see a return on the $270mm a year to broadcast through advertising revenue? I'd assume FoxSports is smart enough to know what to pay for the rights and still leave room for profits on charging for advertising, as Kyle alluded too, sports are one of the only things people watch live on TV anymore and might actually see a few commercials doing so. I would also assume that FoxSports knows they can see a better return through advertising in this deal on their $270mm +/- a year for the rights than through an annuity/investing or else they would be putting that money in annuities/bonds or whatever vehicle was providing the returns.