I posted this elsewhere, but here it is for MGoBlog consumption:
Disclaimer: I have not done any of this myself. However, in theory this should work. Also, it is not free. I estimate it would cost ~ $300/yr, which is probably a lot less than your 12 monthly cable bills.
You will need 4 things:
1) Most importantly you will need a high-speed internet connection, which I assume many of you already have since you are on this website reading this right now.
2) You will need to purchase BTN2Go International, which is basically a service BTN offers to fans abroad to watch their live programming overseas. This costs $119.99 a year I believe but you will be able to watch all the football and basketball games BTN covers this year. This option is not available (normally) to people living and residing on the US (but we will go over how to work around this requirement.) Link: international.btn2go.com
3) You will need to purchase ESPN Player. It's basically the same thing as BTN2Go international except change 'BTN2Go' as you know it to 'WatchESPN'. With this you will be able to watch all of ESPN's live progamming online (however notably, you will not be able to watch ESPN on ABC events--more on that at the very end). I can't access the current pricing but I think I saw something older that it was $150 a year. link: espnplayer.com
4) The last thing you will need, which is what makes this whole thing work is Hotspot Shield Elite (link: www.hotspotshield.com/us). This is a nifty little program that will make your computer 'show' up in the UK, using a VPN. It's legal and costs $30/yr. You will only have to run this program when you plan to sit down and watch your beloved Wolverines play.
To summarize, if you did follow through with all this, you *should* be able to watch all of BTN's live sporting events, and all of the ESPN/ESPN2 events (including NBA, Monday Night Football, MLB on ESPN, etc.) For the ND game and the ABC on ESPN programming, I recommend you purchase a high quality antenna and watch normally on your TV. Also note that if you aleady live overseas, you just need to do steps 1-3 and you should be set.
If any of you actually take my advice and go through with all this, please report back. I suspect the results would be glorious and worth sharing with others.