Here is my guess at the UC calculations. UC currently pays $11m/yr. For this price, UC wants to get all its 5000 papers/yr as open access, but Elsevier only off

Here is my guess at the UC calculations. UC currently pays $11m/yr. For this price, UC wants to get all its 5000 papers/yr as open access, but Elsevier only offers to give them 1750 papers/yr for this price. Elsewhere in the article Elsevier states that the normal open access fees for 5000 papers are $15m, so $15m/5000 = $3000/paper. So UC could take Elsevier's proposal and get 1750 papers (+ read access) for $11m, and pay $3000 for each of the remaining 3250 papers, for a total of $21m. With inflation, $21m is about an 80% increase over $11m.