Frank and Jamie McCourt Reach a Deal in Divorce Settlement

Oct 18, 2011 - LegalZoom News Sources
Owner of the Los Angeles Dodgers Frank McCourt and Jamie McCourt recently reached a divorce settlement that gives him the rights to the Dodgers.

Frank McCourt and Jamie McCourt recently reached a divorce settlement allegedly worth $130 million, according to which Jamie will give up all claims over ownership of the Los Angeles Dodgers.

The settlement will remove Jamie as an obstacle in Frank McCourt's plan to retain ownership of the Dodgers by selling the team's television rights in U.S. Bankruptcy Court.

The couple, who did sign a prenuptial agreement, have had issues in the past over the specifics of the document. Frank McCourt alleged an error was found in their prenuptial agreement, which gave him full rights to the baseball team, but Jamie and her lawyers alleged that the court documents were changed without her knowing and that her former husband and his attorneys engaged in fraud, the Sporting News reported.

Six signed documents, three of which differ from the others, were the main sticking point in the case, in which bank loans listing Jamie as part owner were at issue.

California’s prenuptial laws protect couples from losing property that belonged to each party before the marriage, and also stipulates how property will be distributed or transferred in the event of divorce or death.