Passan broke it down pretty well, but the deferrals essentially are an accounting trick to bring down the annual cap value. So while $700 million is the true value of the contract, because of the deferrals the actual cap value is going to be much lower. And the marketing aspect truly makes this impossible to fully evaluate for maybe 15-20 years after the contract is done. If this creates 10 million lifetime Dodger fans in Japan, then the contract is arguably a discount.
https://twitter.com/user/status/1733617544471216149