Jamie McCourt is requesting an immediate sale of the Dodgers to avoid a takeover by Major League Baseball. During a divorce with the team’s owner, Frank McCourt, the Jamie was fired, and she now claims that the team is severely mismanaged. Jamie petitioned Superior Court Judge Scott Gordon to order an immediate sale in hopes of obtaining the maximum amount of value for the franchise.
The team is the couple’s largest asset and the subject of an ongoing marital property division dispute, despite the fact that their divorce is already official. Jamie McCourt believes that the sale would be a positive change for the team and its fans, as it would bring in a new owner with differing business strategies than those of her ex-husband.
Judge Gordon has scheduled a hearing on the issue for June 22, during which he will consider arguments for and against the forced sale of the team. The hearing will also cover Jamie’s request to obtain her ex-husband’s financial records. This follows a ruling in December, when the judge set aside a controversial post-nuptial agreement. That decision has caused considerable tension for the franchise itself, as Frank had previously argued that 2004 post-nuptial agreement granted him exclusive ownership over the team.
The commissioner of Major League Baseball has launched an investigation into the failing finances of the Dodgers, suggesting that MLB might have to take over the team if the current management is unable to resolve the situation.
As the divorce between Frank and Jamie McCourt demonstrates, complex property division can be one of the most difficult issues to resolve in a divorce that involves substantial assets. While just about any divorce has the potential to become a hotly contested divorce, achieving a settlement can be quite a challenge when there are significant assets at stake. If you have questions about marital property division in Wisconsin, an experienced divorce attorney can help.
Source: Thomson Reuters News and Insight, “Jamie McCourt seeks immediate sale of the Dodgers,” Mark Lamport-Stokes, 5/19/2011
