I'm not surprised they have the highest payroll. Their rumored new TV deal is nuts (LAD would get between 240-280M per year). I expect them to have the top or close to the highest payroll in the MLB from now on.
It sounds crazy to say on such a big deal, but I think LA did well to keep it at 6 years. When you are just swimming in cash and there's no cap, is an extra 2-3 M per year a big deal to secure an excellent pitcher?
LA also has like 30 M of cash coming off the books after 2013 in underperforming veterans such as Lilly (13 M), Uribe (7 M), Guerrier (4.5 M), Hairston (3.75 M) and Punto (1.5 M), as well as options on Harang and Capuano which could save them another 10 M if not exercised, not too mention 2013 is the last season they pay Manny, so they'll have more flexibility a year from now to make a splash. Crazy.
Apparently they will try to add another starter for 2013 even if they can't sign the Korean. That tells me they have zero confidence Billingsley will hold up long-term and TJS is inevitable at some point.