Divorce litigants McCourts settle ownership of the Los Angeles Dodgers

By Correy Stephenson

The Daily Record Newswire

After years of high-profile legal battles from California to Massachusetts to Delaware bankruptcy court, Frank and Jamie McCourt have finally reached an agreement about the ownership of the Los Angeles Dodgers.

Jamie McCourt filed for divorce in 2009 after 30 years of marriage, arguing that the couple jointly owned the famed California baseball team.

Frank contended that a postnuptial agreement the couple entered in 2004 after the team was purchased made the franchise his exclusive property.

But a California trial court judge ruled that the postnuptial agreement was invalid, sparking a lawsuit from the firm that prepared the post-nup.

It sought a declaratory judgment that its lawyers acted in accordance with ordinary standards of legal care, a motion that a Massachusetts judge recently denied.

Frank appealed the decision, prompting the Commissioner of Major League Baseball, Bud Selig, to take receivership of the team, expressing concern about its day-to-day operations and finances.

In an attempt to keep the team running, the Dodgers then filed for Chapter 11 bankruptcy protection in Delaware.

The McCourts reached a preliminary settlement earlier this year which has now been finalized, according to the Los Angeles Times.

Jamie will receive $130 million and will concede ownership of the Dodgers to Frank.

In addition, she agreed to withdraw her motion opposing the sale of the team's media rights, which has reportedly stalled the bankruptcy proceedings. Under the terms of the confidential settlement, Jamie will now file a motion in support of the deal.

Published: Mon, Oct 31, 2011

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