November 23, 2009

Is the Battle Over Ownership of the Dodgers to be Decided in Divorce Court?

Posted in Celebrity Divorce, Divorce tagged , at 12:59 am by demetriagraves

Dodgers’ fans seem to be all ablaze regarding the upcoming divorce proceedings of the owners of the team, Frank and Jamie McCourt. One of the key assets that they are arguing over is who has ownership of the Dodgers. When Jamie McCourt filed her divorce petition she is laying claim to half of the team, she is also claiming unlawful dismissal when Frank fired her as chief executive of the Dodgers.

In Jamie McCourt’s petition, filed in Los Angeles County Superior Court, she claimed irreconcilable differences and asked for immediate reinstatement to the job from which  she was fired.

Frank McCourt countered with his own filing, asking the court to declare him the sole owner of the team at once, then handle the larger divorce case later.

The filings publicly revealed a power struggle months in the making and probably far from over.

Jamie McCourt portrayed the couple as reveling in an extravagant lifestyle. She is asking the court for $487,634 in monthly spousal support if she does not return to her job and $320,967 if she does.

Jamie estimated the net worth of the couple at $1.2 billion and the value of the Dodgers, including the stadium and surrounding real estate, at $800 million. If the court rules the team is community property the McCourts might have to sell the team if neither one can raise the money to buy out the other.

The consensus seems to be that it will be impossible for the McCourts to keep the Dodgers. Frank won’t be able to raise the money and if Jamie does have the backers, she won’t have the credit (or the credibility). The team will be sold, and each McCourt will walk with a hundred-million or two. The Dodgers will move on, merely pawns in much larger game.

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