Frank and Jamie McCourt "have reached a divorce settlement" under which Jamie would recieve "about $130 million and relinquish any claim to a share of the Dodgers," according to sources cited by Bill Shaikin of the L.A. TIMES. The settlement "would remove Jamie McCourt as an obstacle to Frank McCourt's plan to retain ownership of the team by selling the Dodgers' television rights in U.S. Bankruptcy Court." The agreement also "would appear to set up a winner-take-all court showdown for the Dodgers between Frank McCourt and Commissioner Bud Selig." Selig has "asked the Bankruptcy Court to order the Dodgers sold." For Frank McCourt to keep the team, he "probably needs U.S. Bankruptcy Court Judge Kevin Gross to deny Selig's request and to grant an auction of the Dodgers' television rights, over the objections of Selig and Fox Sports." Meanwhile, the settlement between the McCourts "would conclude what is believed to be the costliest divorce in California history." L.A. Superior Court filings indicate that the McCourts have "incurred $20.6 million in legal bills related to the divorce through July." To settle the "outstanding dispute over whether the Dodgers were the sole property of Frank McCourt or community property could have added at least $14 million to those bills, based on estimates in a filing on behalf of Jamie McCourt" (L.A. TIMES, 10/17). Bloomberg TV’s Michele Steele notes the divorce settlement “sets up Frank for next his big showdown: An all-or-nothing battle to keep the team.” Steele noted Frank McCourt “has just over $47,000 in his personal bank account as of August 31st,” and to settle "with Jamie, he’ll need a big cash infusion in the next few months” (“In the Loop,” Bloomberg TV, 10/17).
