Posted Oct 18, 2011 12:20 am CDT
After racking up more than $20 million in legal bills, the owner of the Los Angeles Dodgers has reportedly reached a $130 million settlement in his divorce case.
In exchange for the payment from Frank McCourt, his wife, Jamie McCourt will relinquish her claim to any ownership rights in the team, reports the Los Angeles Times, relying on information from unidentified sources.
The Associated Press also has a story detailing this history of the case.
A drafting error in a postnuptial agreement resulted in a Los Angeles Superior Court ruling that the document was void and a protracted battle over whether Frank McCourt was the team’s sole owner.
Additional and related coverage:
ABAJournal.com: “Dodgers Owner Loses Round in Divorce Battle as Judge Rules His Wife Is a Co-Owner of the Team”
ABAJournal.com: “Judge Nixes Bingham’s Bid for a Court Finding Precluding Malpractice Suit by LA Dodgers Owner”
Dodgers Blog (Los Angeles Times): “Frank and Jamie McCourt confirm divorce settlement”
Dodgers Blog: “Frank McCourt could beat Bud Selig, still have to sell Dodgers”