In the past we’ve written about the ongoing divorce saga between Frank and Jamie McCourt. In the beginning the two were going to court over property division and who really owned the Dodgers, and most recently the two reached an agreement in temporary alimony. However, more than two years after the couple announced their separation; a divorce settlement has finally been reached.
Under the couple’s divorce settlement, Jamie McCourt has decided to give up her fight for partial ownership of the now bankrupt Dodgers. In return, she accepted a promise of receiving $130 million from her ex-husband.
Those familiar with the recent agreement, claim that the $130 million will come from either the sale of the Dodgers, or Frank McCourt auctioning off the team’s television rights. The later is something that will most likely be met with opposition, and there is also the possibility that the money will be ordered to go toward the team, and not his ex-wife.
Sources say another avenue for Frank McCourt to take, would be selling a minority share of the team, or even selling some of the land that is around Dodger Stadium.
Overall, while it is still not known exactly how Jamie McCourt will end up receiving the $130 million, when looking at the agreement is does highlight just some of the issues that can arise over property division. In this case, the real question at hand was who really owned the Dodgers, and if the team should be considered marital property. And while the couple’s ongoing battle has been highly publicized due to their high-profile status, any couple going through a divorce can find themselves in a heated battle over property division and assets.
Source: Los Angeles Times, “Divorce settlement solves one problem for Frank McCourt,” Bill Shaikin, Oct. 17, 2011