MLB commissioner’s decision nullifies McCourt divorce settlement
Major League Baseball Commissioner Bud Selig's decision to reject a proposed broadcast deal between the Los Angeles Dodgers and Fox Sports invalidates a divorce settlement between team owner Frank McCourt and his ex-wife, Jamie, the Los Angeles Times reported.
The McCourts' divorce settlement "had been predicated on both parties -- and their lawyers receiving an immediate piece of the television deal," the LA Times article said. In a statement, Selig called this a "further diversion of Dodgers assets for the personal needs of Mr. McCourt," the report noted.
The Fox contract called for $385 million in upfront payments. The league wanted all of that money funneled exclusively to the team, but [the] divorce settlement earmarked up to $173.5 million for the McCourts and their attorneys....
Court documents had previously revealed that the McCourts had used more than $100 million from team revenues for personal purposes. The couple owned numerous homes in such pricey locales as Holmby Hills and Malibu...
The debate over whether McCourt should remain as owner has been inextricably tangled up with his divorce.
According to the LA Times report, Frank McCourt could restructure the Fox deal or challenge Selig's rejection in court. He could also take on a minority investor, but that "would depend on McCourt's winning full ownership of the team or getting Jamie's approval," the article said. (Source: Los Angeles Times, June 21, 2011.)
Posted Tuesday, June 21, 2011 • Permalink