Let's see if we have this right.

The beginning is simple: A well-qualified Tampa Bay group offered $115 million to buy and move the San Francisco Giants.In the face of losing the team that few San Franciscans seemed to care about, a group of extremely wealthy San Francisco investors painstakingly decided they would try to buy the team.

The absolute most they could scrape together to offer, they decided, was $100 million.

Then they said the deal - the absolute most they could offer - would have to include a $10-million loan from current owner Bob Lurie, who really wanted to get out of the business.

Then they said they will need a new stadium in order to survive in San Francisco. And because they offered the absolute most they could, they will need some help from the public - millions of dollars of help - to pay for it.

Then they said that to make things go - because their bid was the absolute most they could make - they would need more than $3 million in annual lease concessions from the city of San Francisco, which really has more important places (like schools and police and hospital) to spend its money.

Then they said they would pay Barry Bonds nearly $50 million to play ball.

OK. I think that's it.

Peter Magowan, leader of this San Francisco mass of millionaires, says the signing just was the right thing to do. The right thing for the fans. The right thing for the franchise.

The decision about what to bid for the team and the decision to turn around and spend half that much on one player are two different things, he said.

"I think with this one move we have transformed this team on the field and sent a very powerful message to the Northern California community that the new ownership group is truly committed to this franchise and doing what it can to make it successful," Magowan said.

"We feel this move is the best chance we had of making the Giants successful. If there was one player move we could make, given our shortcomings on the field, it was a power-hitting, left-handed-hitting outfielder. We didn't just get a power-hitting, left-handed hitting outfielder, we got Barry Bonds."

Magowan is, perhaps most of all right now, a baseball fan. Emphasis on fan. His ownership style, even before he's been approved, looks as if it will be hands-on, if not hands-in.

He says he talked to baseball people before deciding Bonds was his man, but didn't say whom. He admits he has been thinking about this move for months, almost since the day he decided to be part of the San Francisco group bidding for the team. He says he had this all thought out.

What he didn't think about was how other owners would react.

Other owners know the Magowan group nickel-and-dimed its way into buying the team, leaving Lurie, one of their own, to take a $15-million hit.

The owners know Magowan's group said it would operate the team in a fiscally conservative manner, trimming payroll and building for the future.

And the owners know that at a time when they are pleading poverty and when they are reopening labor negotiations to convince the union that the pay system must be reined in to save the game, they didn't need the new kid on the block going out and giving away a contract for almost 50 million bucks.

Some owners are mad. Some are concerned about what Magowan could try next (the thought of another Steinbrenner has been mentioned). Some may vote against the Giants sale on principle, but not enough to kill it.

Lurie smiles when asked his reaction to the signing. "Great surprise. Shock."

Anger? "You're not going to get that word out of me," he said.

Vince Naimoli, the man who led the Tampa Bay group, chuckled when asked his thoughts about the signing. "Amazing," Naimoli said. "It's amazing."

Who knows? If Naimoli's group wins its $3.5-billion lawsuit against Magowan and his partners, maybe he'll get Bonds in the payoff.

Naimoli's not the only one, either in Tampa Bay or San Francisco, or here in Louisville, who is amazed.

"I think," Magowan said, "this move should say something about the new ownership group in San Francisco."

It does.