Frank and Jamie McCort Reach Divorce Settlement

Los Angeles Dodgers owner Frank McCourt and his wife Jamie reached a divorce settlement. What this means for baseball fans is that, at this point, Frank McCourt is the sole owner of the Dodgers.  Now that this has been determined, another court hearing is set for late October to determine if McCourt will retain ownership of the club.

In the settlement, Jamie McCourt agreed to relinquish any possible ownership of the team in return for $130 million.  Ownership questions and related compensation have been large issues for the McCourt’s, dragging out their divorce process for the past two years.

With a settlement now reached, McCourt will turn his focus to obtaining funding for the Dodgers.  McCourt hopes to auction off LA’s future television rights to the highest bidder, while Major League Baseball is hoping the owner steps down from his current post.  MLB is afraid that a portion of the money McCourt receives in any TV deal will go toward his divorce and other personal expenses.  MLB believes that McCourt’s mismanagement of team funds is why the Dodgers are currently in such dire straits financially.

With the hearing set for the end of the month, both sides are hoping to have this issue resolved before MLB’s free agency period begins.

For more on the Dodgers, be sure to check out Lasorda’s Lair.