Frank McCourt finally has the divorce settlement in place that makes him one step away from keeping the Dodgers. Only thing in his way now: Commissioner Bud Selig.
According to the Los Angeles Times, Frank and Jamie McCourt have come to an agreement on a divorce settlement that would give Mrs. McCourt about $130 million and, in return, she would relinquish any claim to a share of the Dodgers.
This would be a gain for Mr. McCourt as it would take Mrs. McCourt out of the equation as he tries to sell the Dodgers' television rights in U.S. Bankruptcy Court in order to retain ownership of the team.
The settlement has not been finalized but it could end up as the most expensive divorce in California history.
If not for the pending settlement, Mr. McCourt would have had to pull off two in-court victories. One over MLB Commissioner Bud Selig in Bankruptcy Court and then in divorce court with Mrs. McCourt over whether or not the Dodgers were community property.
A divorce settlement reached on June 17th was agreed upon but needed the approval of a proposed television contract between the Dodgers and FOX in order to go through. Selig rejected the contract three days later, re-opening negotiations. In the meantime, Selig, FOX and Mrs. McCourt would join forces in their attempt to get the Bankruptcy Court to reject Mr. McCourt wanting to auction the Dodgers' television rights.