Well, here's the latest on current payroll in the Herald:
http://bostonherald.com/sports/red_sox_mlb/mlb_coverage/2014/03/dodgers_top_spender_ending_yanks_15_year_streak
The Dodgers and Yankees are by far the biggest spenders. No surprise since NY constitutes about 16% of the TV market and LA about 9%. About a quarter of the TV sports market for the two largest cities. No wonder you get a steady diet of Yankees and Dodgers in the ST games on MLB network. Expect the same this year on ESPN and Fox as well. The main source of the differences are local cable TV revenues, which are not distributed to other teams. This has been the source of the Yankee advantage for many years--with their YES network. Many cable subscribers around the country, including myself, have this channel stuck in their cable package--and are paying for it, whether they watch it or not.
You folks in New England that subscribe to NESN get a steady diet of the Red Sox, so this isn't an issue for you. But those outside NE are pretty much force fed the Yankees and now the Dodgers on the national network channels.
The salary explosion in MLB relates to the lack of a salary cap, and a system of over-rewarding free agents--with the richest teams most often pushing the price up. It's obviously an unfair system, but the surprising thing is PAYROLL DOESN"T GUARANTEE WINNING. Last year, for example, there was no correlation in payroll vs wins--if you plotted the two. Probably a large part of the reason is free agents are grossly overvalued in the system. The other is that some teams have strong farm systems--some helped by rebates from rich teams over the luxury tax--and use the draft system to their advantage.
There are two things that could change all this--One would be a hard salary cap, much like the one in the NFL--which eliminates any market size advantage. The other would be FCC restructuring of cable TV packages, which would allow subscribers more freedom of choice in what they are paying for. Right now, sports channels are more than half of your cable TV bill--whether you watch them or not--and that is fueling the enormous salaries in sports compared to the rest of the society. If that changes, expect the sports salary bubble to burst. And the TV networks already have clauses in their league agreements to alter their revenue contracts should that happen.