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LA Dodgers Owners in Messy Billion Dollar Divorce
Never mind the Dodger’s playoff battle with the Phillies, it seems that the upcoming divorce battle between team owner Frank McCourt and his wife is capturing the headlines these days. It has been stated that the Dodgers will not be affected by the divorce, but that may actually be a promise that is hard to keep.
Frank’s wife Jamie said she owns half of the Dodgers, which are valued at about $722 million, and that she has no interest in giving up her stake. Frank, on the other side, claims he is the sole owner of the team. The McCourt’s total net worth is estimated at about $1.29 billion.
Frank and Jamie, who got married in 1979, are already living in different homes. They have one son, Drew, who is director of marketing for the Dodgers. Jamie currently serves as vice chairman and CEO for the club. The McCourts purchased the Dodgers in 2004 from News Corp. for $430 million. The divorce surely adds spice to that scenario.
According to a report published by LA Observed, both Jamie and Frank chose lawyers that are willing to fight: “Who the lawyers are tells you that this won’t be a quietly resolved dissolution — Marshall Grossman for Frank, Dennis Wasser for Jamie.” And the battle over the team has started already: Neither Jamie nor Frank want to give up their stake in the team and Frank even claims Jamie has no interest in the team at all.
Yes, and dirt is being thrown in public already: Jamie claims that Frank has brought the discussion about the team ownership into play despite an agreement they would not publicly discuss this matter: “We are disappointed that Mr. McCourt’s attorney has chosen to express legal positions in the press, in violation of the parties’ specific agreement not to make any public statements about this private matter. Jamie McCourt had desired just to focus on the Dodgers’ success in postseason play.” Right.
We are sure there is much more to come from the McCourt’s and it will be interesting to see whether the team will have to be sold or not. There has been no public announcement that this will be the case.
Also, there has been no indication that the McCourts will be selling any of their four homes they purchased since 2004 for more than $80 million: The couple purchased a home in Malibu from actors Courteney Cox and David Arquette for $27,250,272, a beachfront bungalow next door for $18,975,000 as well as a $29 million property in Holmby Hills and an adjacent French country home for $6.5
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