Sporting News Radio turned to Cordell & Cordell co-founder Joseph Cordell to sift through the legalese of what could turn out to be the costliest divorce settlement in the history of California – the divorce between Los Angeles Dodgers owners Frank and Jamie McCourt.
The reported divorce settlement would give Frank control of the Dodgers again, but at a cost of more than $130 million to be given to Jamie. A four-day hearing before a Delaware bankruptcy judge that is scheduled to start on Oct. 31 will have a tremendous impact on the ownership of the team and the highly valuable TV rights, Cordell told Sporting News Radio.
“The most important decision at this hearing will be whether the $2-3 billion in television rights will be able to be sold at auction,” Cordell said. “If the court takes the position that the rights can be sold at auction, then Frank McCourt now has access to dollars that he never could have otherwise. Suddenly he has access to revenues he needs to not only present a case that he can run this franchise and make it successful, but he can also go ahead and pay off Jamie. If he loses on that point, he is sunk.”
Listen to the full audio of Cordell breaking down the complicated issues of divorce and bankruptcy.
The divorce lawyers for men at Cordell & Cordell practice in all areas of family law, including complex divorce and asset division. To schedule an appointment with a men’s divorce attorney, please call 1.866.DADS.LAW.