You are correct - I don't know about owning a sports team because I am nowhere near such a notion in life, but as some have noted above and as we see worldwide, those invited into that elite and small club as private ownership use a great portion of their stake for sake of also their personal playground along with the enormous tax benefits and any given number of government subsidies depending on where located. When you are rich well ...
Of course all that reality leads into the discussions about labour negotiations every year and the closed books of the owners and all those recurring discussions as well.
Rational for them often means what is first and foremost in their interest, which of course it is their capital at stake anyway right?
This is one reason I don't see any notion of a season that requires the owners to reach even more than pro-rated and budgeted by them further into their pockets except perhaps for some one-time additional amount upon launch, due to this pandemic, beyond the amount already budgeted for the start of any given season.
A half-season has virtually the same overhead for launch, and a half-season in a pandemic I figure that has that much more cost like for any of us right now with various additional and ancillary costs of the pandemic, and a half-season has likely greater overhead per game before an owner even pays the labour costs.
So figuring on all that likely basic business reality for the guys with the most skin in the game, well place your bets on any given prospect of a half-season or thereabouts. I am betting against any such prospect for free here.