[jfman]

Rational capitalists trying to profit maximise asked for an extension, OB. They knew both that there were no other buyers, and not even a credible threat of another buyer to shake out an extra few per cent from the incumbents.

Who asked for the extension has nothing to do with the price of eggs, or course, but it all points to me being correct all along that there’s no business model whereby a streamer can spend £5bn on sports rights in the UK and recoup that with a profit.

Otherwise we would have an auction.