So THAT'S why rich guys like to own sports teams....

It helps with the accounting shenanigans. From today's WSJ story (subs. req'd) on the financial woes of Parma football club, a subsidiary of the troubled Parmalat:

The club's players were booked as intangible assets valued at euro 277 million, accounting for more than 13% of the entire Parmalat group's intangible assets on June 30, 2003.

Which is especially useful when some of the group's other assets don't actually exist.