Cannot believe Magic's group paid that much for the Dodgers. The two other bidding groups weren't even close. And McCort still owns the parking lot!

Now I'm convinced that franchise prices are completely emotional and devoid from reality.

The cash flow of these teams does not justify these prices.

These guys are billionaire hobbyists, not investors.

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Theres a 4 billion dollar sports TV contract similar to the one in NYC on the table

http://www.latimes.com/sports/dodgersnow/la-sp-sn-dodgers-tv-rights-20120328,0,847499.story

that's 1.85 billion profit without even selling a ticket. All the other bidders underestimated the Dodgers brand awareness severely.

If Magic and co find a way to include the Clippers and the Kings in that mix like what the Mets/Yankees/Knicks/Rangers got going in NYC- it could go higher. And there is even talk about re purposing the property around Dodger stadium to allow for a football stadium and should that happen 2.15 billion would have been a heck of a steal.