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@Adam are you aware of any mainstream sport that is run in a different way. All professional sport is about money, plain and simple.
A few year back it was Sky (and to some extent Eurosport) that was flashing the big money to get football, rugby, motorsports, you name it. Why? Because they wanted people to take up their service. The organisers were happy to take their money rather than take less from terrestrial broadcasters. Sky now have the subscribers and they know that they won't get significantly more by outbidding BT for any of those sports.
BT with their IP TV service are where Sky were a few years back. They want more uptake for their service. Sky are happy to let BT win the bids as they will be broadcasting BT Sports 1 & 2. Sure they'll have to pay BT for the privilege, but less than they would have had to pay for exclusive rights.