A temporary alimony agreement was recently reached between Frank McCourt and his ex-wife Jamie McCourt. However, the couple is still in a contentious battle over who has ownership of the Dodgers baseball team.
As of now Frank McCourt will continue to pay his ex-wife $225,000 a month in spousal support, but he will no longer have to pay out-of-pocket an additional $412,159 a month that he was previously paying for six mortgages. Instead, the money for those mortgages will come out of a $1.1 million escrow account, which was created by the sale of one of the couple’s homes.
This recent ruling is in light of Frank McCourt’s request for the court to reduce his alimony payments. His claim was that in the past year he’s paid more to his ex-wife than what he has actually earned. In the past year he has reportedly paid her close to $7.7 million, even though he has only made $5 million.
However, at hand the major issue –who actually owns the Dodgers baseball team — is yet to be resolved. In the past we’ve reported on this property division case, where Frank McCourt claims to be the sole owner, but Jamie McCourt claims to own half of the team.
As of now the Dodgers have filed for bankruptcy citing a cash flow shortfall from a TV deal that was not approved. And, in the case of who really owns the team and the team’s name, Frank and Jamie McCourt are both scheduled for a characterization trial that will start in November.
Source: Huffington Post, “McCourt Divorce: Spousal Support For Jamie May Be Reduced,” Greg Risling, Sept. 14, 2011