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Frank and Jamie McCourt may have reached a divorce settlement.
Frank and Jamie McCourt may have reached a settlement after almost two years of highly publicized divorce proceedings.
The Los Angeles Times reports Monday that Jamie McCourt would get about $130 million and give up any claim to the Dodgers, giving complete control of the team to Frank.
The deal also removes Jamie McCourt as an obstacle to Frank McCourt's bid to keep ownership of the Dodgers by selling TV rights.
The newspaper report is based on unidentified sources familiar with the agreement. According to the Times, the sources spoke on a condition of anonymity because terms of the settlement have not been finalized.
Jamie McCourt spokesman Matthew Hiltzik and Frank McCourt spokesman Steve Sugerman did not immediately respond to Associated Press requests for comment early Monday.
Last week, MLB attorneys stopped trying to disqualify lawyers representing the Dodgers in the team's bankruptcy case; a decision prompted by a court-appointed mediator. But The Times says the deal appears to set up a showdown for the Dodgers between Frank McCourt and Commissioner Bud Selig, who wants the U.S. Bankruptcy Court to order the Dodgers sold.
"The irony is the McCourts did a great job, until the past couple years, of running the team," L.A. Times sportswriter Bill Shaikin said on the Madeleine Brand Show Monday.
Under bankruptcy law, McCourt is still in control of the Dodgers, and after a loan from Major League Baseball he has enough money to finance to team.
A hearing set to begin in Delaware on Halloween will determine whether McCourt gets to keep the Dodgers or if they will be sold to the highest bidder. If McCourt is forced to sell, he stands to lose nearly all of his remaining revenue, Shaikin said on the Madeleine Brand Show.
Taking into consideration McCourt's amount of debt, tax liability and the MLB loan, he'd have to sell the team for almost a billion dollars to make enough money to recoup any sort of profits, Shaikin said.
Although there are many people who may consider purchasing the Dodgers, Shaikin said, the selling price will be mitigated by the amount of stadium renovations that will have to be done under new ownership. McCourt has long deferred necessary maintenance and improvements of Dodger Stadium, and these costs will have to be accounted for when the team is sold.
The Associated Press contributed to this story