The Portland Thorns FC has been approached by, OL Reign, Gotham FC, FC Kansas City and the North Carolina Courage to invest in a streaming media company, so that selected live games (and replays) can be streamed directly to Europe (via cellular networks) where the USA National Women's Soccer League is becoming very popular.

To cover the initial ten million dollar applied research, legal and regulatory expenses, and proof of concept development expenses, each of the five teams will invest $2 million today (year 0) as a deposit and exclusive option rights to be an owner of the venture.

If regulations and permissions are granted, and the streaming works with the required minimum lag time, then they will be asked for a $15 million investment to stay in the venture in year two.

In year 4, year 5 and year 6, each team is required to kick in $2 million to cover their own games audio and video streaming production expenses.

In year 4, and again in year 6, each team is also required to contribute an additional

$ 2 million for general advertising and promotion.

The two venture capital firms that have agreed to back the adventure have high confidence that IF THEY CAN DELIVER ON THE STREAMING TECHNOLOGY (so that people can bet on games real time and watch them lag free, and GET ALL THE POLITICAL and LEGAL APPROVALS, then this broadcast venture will be worth about 500,000,000 by year 7. Everything accrues to each investor equally.

At the end of year 7, each team must sell their portion of the venture, so that the VCs both get their money back and make a good profit. The VCs have first option to buy at a 10% discount or they get 10% of the sale price, their choice. So to make the calculation simple, assume the teams get 90% of the selling price of 500,000,000 and the VCs get 10% of the selling price.