Los Angeles Angels of Anaheim owner Arte Moreno spent $184 million to buy the team in 2003.

Today, as Scott Soshnick of Bloomberg pointed out, he spent $70 million more than that on by giving Albert Pujols a $250 million contract.

Pujols is the best player in baseball. But he's also going to be 32 years old in January, and will be making ~$25 million per season when he's 40 under this deal.

So how does Moreno justify spending $70 million more on one (aging) player than he spent on the entire franchise?

Two things.

1. The Angels new TV deal will make the team an addition $100 million in revenue per season, and allow them to legitimately compete with the big boys.

2. The team is now valued at $554 million, more than double what it was worth when Moreno took over in 2003.

Moreno has turned the team into a cash cow, and he's parlayed those gains into one of baseball's biggest stars.