Jamie McCourt Relinquishes Dodgers Ownership

Oct 17, 2011 3:32pm
gty frank mccourt jamie tk 111017 wblog Jamie McCourt Relinquishes Dodgers Ownership
                                                                                                                 Jeff Gross/Getty Images

Frank McCourt, the owner of the Los Angeles Dodgers, has reached a divorce settlement with his wife, ending a bitter personal battle that tarnished his beleaguered team.

In a short statement released today, the couple said they are “pleased to announce that they have settled their divorce case,” the terms of which “will remain private.”

“Jamie will be withdrawing her opposition to the Dodgers proposed sale of media rights and instead will be filing papers in support of the process proposed by the Dodgers,” the statement concluded.

Citing “people familiar with the agreement,” the Los Angeles Times was the first to report this morning that Frank McCourt will retain control of the Dodgers, while his wife and former team CEO, Jamie McCourt, will get $130 million.

The McCourt divorce might end up being the costliest in California’s history, the Times reported, with an estimated $34 million in legal fees.

The couple, who have been separated since 2009, listed their net worth as $1.2 billion in court documents filed that year.

Although the agreement eliminates Jamie McCourt’s claim to the team, Frank McCourt still faces an uphill battle with baseball Commissioner Bud Selig that ought to heat up at the end of the month when a bankruptcy hearing is slated to begin.

The league took control of the Dodgers in April. McCourt wanted Selig to approve a lucrative TV contract with Fox to keep ownership, but Selig rejected the deal in June and wants McCourt to sell the team.

In an exclusive interview with “Good Morning America” in May, one month before the Dodgers filed for bankruptcy, McCourt said he and his wife’s extravagant lifestyle became the source of their problems.

“It was unhealthy, and unsustainable,” McCourt said. “I became a caricature of myself, and I became a caricature of somebody who was uncaring, unfeeling, excessively living, bad guy. And that’s just not who I am.”

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