I wonder if a pay per view model might work out.. For example to watch a certain game you pay 99c. If you want to watch live you pay a premium $1.99. Possibly special games (Superbowl, world series, nba playoffs) go to $2.99 a game.
However, it's too expensive for me (I had it as a gift).
And I want a pony.
What's missing is a startup with deep pockets to start buying contracts.