McCourts Reach Divorce Settlement

The divorce of the couple that bought the Dodgers nearly eight years ago has finally been settled. Frank and Jamie McCourt confirmed that they have come to a financial agreement, according to the LA Times. Bill Shaikin of the Times, who first reported the settlement, reports that Jamie will obtain $130MM and relinquish any claim to a share of the Dodgers. She will no longer stand in the way of Frank's plan to sell the team's media rights.

As Shaikin notes, the agreement sets up a possible court showdown for the Dodgers between Bud Selig and Frank McCourt. The commissioner asked the Bankruptcy Court to order the Dodgers sold, but McCourt intends to keep the team, which he and Jamie purchased in 2004. The McCourts had reached a divorce settlement in June, but it was contingent on a TV deal with FOX that Selig rejected.

Despite the off-field distractions, Dodgers GM Ned Colletti has indicated that he's willing to spend to improve the offense as dramatically as possible. Prince Fielder and Albert Pujols could draw interest from the Dodgers, who could consider a long-term deal for Matt Kemp.


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43 Comments on "McCourts Reach Divorce Settlement"


Joey E
3 years 10 months ago

END THIS MESS 

I speak for all dodger fans when i say this is so tiring, so annoying. 

3 years 10 months ago

I think that could be said about all baseball fans. I’m a Yankees fan, and I know the Dodgers and Yankees don’t always get along but I was hoping this for to be over, because they are great franchise and hopefully now they can field a quality team. 

3 years 10 months ago

He’s not speaking for me. 

CaseyBlakeDeWitt
3 years 10 months ago

And what reason could you possibly have to want this mess to continue?

BlueSkyLA
BlueSkyLA
3 years 10 months ago

According to a story in Tuesday’s LA Times, Frank has until spring to pay off the settlement or the team must be sold. Although the settlement puts Jamie on Frank’s side in arguing for the approval of the media contract extension with Fox, this doesn’t necessarily improve the chances of MLB agreeing to it, or of the Bankruptcy Court forcing MLB to approve it. The next hearing before the judge is coming up in a few days, so I think we’ll know pretty soon how this will unfold. Frank and Jamie, let my people go!

Payaso
3 years 10 months ago

Is this good or bad, for selig and us fans who want frank gone?

cubs223425
3 years 10 months ago

Bad, because they no longer have Jamie trying to force the sale as well.

One less person fighting against Frank.

3 years 10 months ago

Good. Frank doesnt HAVE the money so he will be forced to sell to settle the divorce agreement.

Frank already signed over to Jamie the property they jointly owned and the $130 million is in addition to that property.

I am not even sure that the proceeds from selling the Dodgers would be more than $130 million after the debts are settled.

All in all it sets up a MLB vs McCourt and he will lose. MLB doesn’t have to allow him to sign a TV contract unless 100% goes to the team and without that new tv contract McCourt is done.

start_wearing_purple
start_wearing_purple
3 years 10 months ago

I can see arguments both ways. But I keep thinking about that $130M… how much of it comes out of the part of McCourt’s budget on making the Dodgers a better team.

So short answer, it’s probably not good for Dodgers fans.

Dynasty22
3 years 10 months ago

Kind of irrelevant, but are you WWE champion Alberto Del Rio?

BlueSkyLA
BlueSkyLA
3 years 10 months ago

It’s a good thing. The sale of the team can proceed with one less principal involved, and with another clearly-defined debt the bankruptcy court can add  to the tally when considering MLB’s request that the team be sold. Jamie is now a creditor instead of an owner. The sale of the franchise is now clearly the best and fastest way to settle the team’s debts.

Remington
3 years 10 months ago

This writer needs to do stand-up. This “prince fielder and albert pujols could draw interest from the dodgers” stuff is pure gold!

John
3 years 10 months ago

You need to sit down and shut up, funny guy.

lasordaforpresident
3 years 10 months ago

So where does McBroke get 130 million dollars to pay off his wife?

stl_cards16
3 years 10 months ago

Loans against the team. Where else?

lasordaforpresident
3 years 10 months ago

Sounds like he is already spending the TV rights money he hasn’t gotten approved to sell. Sure sounds like a man who has learned a lesson. Keep doing what got you here in the first place.

stl_cards16
3 years 10 months ago

It’s sad.  Such a proud franchise being held hostage like this.  MLB needs the Dodgers relevant again(in a good way).  Hopefully they get this mess resolved soon.

BlueSkyLA
BlueSkyLA
3 years 10 months ago

Thanks, and best of luck to your Cards. I am envious but will be rooting for them anyway!

BlueSkyLA
BlueSkyLA
3 years 10 months ago

Did I miss the part where he signed a check for $130m? We all know he can’t do that, without either getting the media deal (which can only happen if judge orders MLB to approve it), or if the team is sold (which will happen if the judge orders it). The judge seems far more likely to do the latter than the former.

3 years 10 months ago

The team is in bankruptcy court. McCourt can’t take out ANY loans right now. With this divorce settlement now he has an additional $130 million in debt. 

dru2034
3 years 10 months ago

cashflow…oh yea the team doesnt make any…so good luck at a sale..that will never happen….i do, however, think that this could be a step in the right direction if Frank is actually serious about running an MLB Franchise.  However, im not quite sure where he is going to get the money to pay a big free-agent..after the new kemp deal he will be broke again

3 years 10 months ago

 The wife gets $133 Mil?  Stay single, guys, and keep two things in your pants.  Your money and your …….!

Dynasty22
3 years 10 months ago

I agree with the money part, but my “Wang” not so much.

ateam043
3 years 10 months ago

Hopefully he meant to keep money and “condoms” in your pants. The “Wang” needs action!

Dynasty22
3 years 10 months ago

Lol, I think I’ve had enough of the “Wang” jokes for one day.

3 years 10 months ago

this is such a profoundly ignorant comment on so many levels. the assumptions you make about jamie and women in general show that you basically know nothing. good luck with life.

DunkinDonuts
3 years 10 months ago

Allow me to air my assumption about Jamie… A run-of-the-mill corporate lawyer does not make $133 million over a fifteen-year career.  Let’s just say she ain’t messin’ with no broke, broke…

Now let me tell you what I know for certain about Jamie… She represented to a court, through her attorneys, that she could not survive on less than $600,000 per month in spousal support.  That’s more per month than the average middle-class person makes in 15 years.  She actually requested $989,000 per month in alimony.

If I had to come up with one redeeming quality about Jamie McCourt, it would be that she has not yet been accused of leading a mass genocide.

0vercast
3 years 10 months ago

Apparently you have never seen a messy divorce up close.

Dynasty22
3 years 10 months ago

So,uh, now that this is out of the way..sell the team McCourt.

East Coast Bias
3 years 10 months ago

This sounds like a good thing to me, but I could be way off.

Basically, the entire problem was that Jamie and Frank both had ownership of the team, conflicting interests and such. Now, with Frank the principal owner by essentially buying out Jamie, he can do as he wishes. Granted, that may not be a good thing… but at least it’s one voice and one direction rather than two owners holding the team hostage while battling for its custody.

It seems to me Frank bossed up and paid her through his own pocket, putting the team first and himself second.

Again, I could be way off, but that’s what I gathered…

BlueSkyLA
BlueSkyLA
3 years 10 months ago

I don’t think so. Frank can’t write Jamie a check for $130m, so she in effect becomes another creditor. The debt can only be satisfied out of Dodger revenue, either the extension of the Fox media deal (which MLB won’t approve) or the sale of the team. This is actually very nearly the same deal Frankenjamie made a few month ago, which was contingent on the Fox contract. It fell apart (as everyone expected) because Selig said no to the media contract. Essentially the only difference now (AFAIK) is that the settlement is unhitched from the media contract. This leaves Frank with no other obvious options that I can see to raise the money but a sale.

Dodgerbluez
3 years 10 months ago

Well I dont Think trying to sign Prince, or Albert is as important as extending Kemp.. That should be priorty #1

Shu13
3 years 10 months ago

Isn’t it odd that this agreement happened so quick after reports of the Angels getting a big Fox TV deal in the shared market? I think Frank and Jaime finally realized that the TV deal could disappear and they could both lose the Dodgers and their cash cow….settling this now will allow Frank move forward w/ getting the team back from MLB….this is providing he proves that the $$$ going to Jaime doesn’t come from the future TV deal and only his personal holdings….MLB(Selig) may let him go a head and get a new TV deal BUT will still keep close tabs on the $$$ to make sure it is used for the club and not to fund his lawyers and divorce settlement…..

3 years 10 months ago

McCourt doesnt have $130 million in personal holdings. He signed over the property to Jamie previously and his only real property is Dodger Stadium and the surrounding property which is all tied up in bankruptcy court and can’t be touched.

3 years 10 months ago

Good, now please get McCourt out of LA. I am growing tired of seeing this headlines and it is just depressing that one of mlbs largest markets and most storied franchises has been unable to do anything.

 

Gumby65
3 years 10 months ago

Only plausible settlement for both parties: Life, without the possibility of parole.

3 years 10 months ago

One small problem with that deal, Frank McCourt doesnt HAVE $130 million without either draining the club of any TV money or selling the team.

He already gave her the property so all he owns is the Dodgers and they are in bankruptcy so no money there.

3 years 10 months ago

Wait how are the yankees gonna get kemp if the dodgers lock him up?

Sincerely, a somewhat serious yankees fan

bbq1959
3 years 10 months ago

Why does every Yankee fan think every free agent wants to come there,

BlueSkyLA
BlueSkyLA
3 years 10 months ago

Because they also believe that every fan of every other team secretly wants to be a Yankees fan.

Adam Blosser
3 years 10 months ago

“Despite the off-field distractions, Dodgers GM Ned Colletti has indicated that he’s willing to spend to improve the offense as dramatically as possible.”

Since when did Colletti start writing the checks?

3 years 10 months ago

McBroke@ss needs to leave LA before he is run out of town. He is the most hated owner I have ever seen

BlueSkyLA
BlueSkyLA
3 years 10 months ago

Tough call. I don’t want to lose my season ticket share because I know McCourt’s days are numbered.