Tuesday, April 5, 2011
McCourts may be working on a divorce settlement
In the past, we have written about the divorce between Frank and Jamie McCourt. The McCourt divorce serves as an example of how high the stakes can be in divorces when there are substantial assets involved. The McCourt divorce will ultimately determine the ownership of the Los Angeles Dodgers, one of baseball's most valuable franchises.
In December, we wrote that Judge Scott Gordon threw out a controversial property division that would have given Frank McCourt complete ownership over the team. When that happened, Jamie McCourt announced that the judge's decision gave her a 50 percent ownership stake in the team.
Immediately after the December decision, Frank McCourt's attorneys announced that they would pursue a second trial on the issue of ownership. They said they had an alternative legal theory that would give Frank complete ownership of the team.
With the 2011 Major League Baseball season underway, it now appears that the McCourts are earnestly working on reaching a settlement. Attorneys from both sides requested that a hearing scheduled for April 11 be delayed one month.
The one-month delay now gives both sides additional time to negotiate a settlement agreement that would end the property division contest between Frank and Jamie. Although we can't know exactly how the McCourts will settle their marital property dispute, past negotiations between the McCourts have focused upon Frank keeping the team and needing to compensate Jamie for her interest in the franchise. The parties appear to agree to this idea in principal, but they have been unable to agree to a dollar amount so far.
Source: Los Angeles Times, "Frank and Jamie McCourt working quietly on a settlement," Bill Shaikin, 3/29/2011