Frank and Jamie McCourt announced they have reached a divorce settlement that would allow Frank McCourt to retain ownership of the Los Angeles Dodgers if he wins two crucial decisions, according to published reports.
The settlement is contingent on whether Major League Baseball approves of a long-term television contract between the Dodgers and Fox. If MLB baseball commissioner Bud Selig rejects the deal, the settlement will be voided and the former couple will resume proceedings in divorce court.
Without the contract, the McCourts will allegedly be unable to meet the Dodgers’ June 30 payroll, according to published reports.
The McCourts also agreed to a one-day trial so that Los Angeles Superior Court Judge Scott Gordon can determine whether the title to the Dodgers is solely in Frank McCourt’s name or if the team should be considered community property in the divorce. If the judge rules the team is community property the McCourts will be forced to split their assets 50-50, which will likely result in the sale of the team unless Frank raises enough money to buy Jamie out.
Last year, Gordon threw out a marital property agreement that would have given Frank McCourt sole ownership of the Dodgers. However, Jamie McCourt reportedly asserted her claim to half-ownership of the team under California community property law.