Tag:Jamie McCourt
Posted on: June 27, 2011 3:08 pm
 

Jamie McCourt unhappy about bankruptcy filing

By C. Trent Rosecrans

Bud Selig's not the only one unhappy about Frank McCourt filing for bankruptcy -- Jamie McCourt's not thrilled, either.

Jamie McCourt's attorney released this statement (via the Los Angeles Times):

Today’s bankruptcy filing is disappointing and disturbing. During the years Jamie McCourt was CEO of the Dodgers, the team’s financials, although heavily leveraged, were stable and improving. In the almost two years since Mr. McCourt fired her and took over management of the Dodgers, Mrs. McCourt has made repeated proposals to resolve her right to 50% of the team in a way that would preserve the value and integrity of the Dodgers for Dodger fans, for Los Angeles, and for her family. She has continued to do so despite the many personal attacks against her by Mr. McCourt and his representatives.

The rule or ruin philosophy that appears to have motivated today’s filing is bad for everyone who cares about, or has an interest in, the Dodgers.

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Posted on: June 16, 2011 9:13 pm
Edited on: June 16, 2011 9:40 pm
 

McCourts given settlement deadline

By C. Trent Rosecrans

The McCourt's divorce could be final by Friday morning, as a judge has set a deadline of 8:30 a.m. Los Angeles time on Friday for a divorce settlement between Frank and Jamie McCourt.

Los Angeles Superior Court Judge said he would declare the talks at an impasse without a deal on Friday, Bill Shaikin of the Los Angeles Times reports.

Gordon declared an impasse on Thursday, but after meeting with both attorneys gave it the rest of the night.

"I think we are close," Dennis Wasser, the attorney for Jamie told the paper. "Hopefully we can get it done tonight."

The end result -- for the Dodgers and Major League Baseball -- will come down to the divorce settlement, but we're not quite sure what it's going to mean until the deadline passes, and maybe not even then.

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Posted on: March 2, 2011 1:51 pm
 

Jamie McCourt wants to see Dodgers' finances

By Matt Snyder

In perhaps the most important divorce proceeding in MLB history -- or at least according to the couple involved -- Jamie McCourt is demanding to see the financial papers of the Dodgers. Her team of attorneys filed a motion with the court Tuesday, in which claims were made that:
Frank McCourt has committed "flagrant breaches" of his duty to protect the financial interests of his ex-wife Jamie, in part by negotiating a "secret deal" with Fox that "would have endangered" the value of the Dodgers' broadcast contracts ...
(LA Times )

Jamie's lawyers point to a decision in December by the Los Angeles Superior Court that threw out an agreement that would have made Frank the sole owner. So, according to the Jamie camp, this means he's half-owner -- which is why she wants to see the financial data for the team. This includes broadcast rights agreements, cash advances, loan applications, financing papers, debt payments and schedules, audited financial results and payments from Major League Baseball.

On Frank's end, he believes he's the sole owner of the Dodgers. His attorney noted the claims are "counterproductive and, frankly, inappropriate." He also stated that he believes Jamie's aim in this is a calculated move to harm the Dodgers.

Alright, let us all collectively exhale. We can't really say something cliche like "this is going to get ugly," because it's been ugly as sin for quite a while. Like Jabba the Hut ugly. These two really, legitimately hate each other.

Hanging in the balance, one of baseball's most popular and storied franchises. Fun times for Dodgers fans.

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Posted on: February 25, 2011 10:52 am
Edited on: February 25, 2011 1:09 pm
 

Selig nixes potential loan from FOX to McCourt

Frank McCourt was ready to accept a $200 million loan from FOX until baseball's commissioner stepped in. According to the Los Angeles Times , the Dodgers owner was going to use the team's cable TV rights as collateral and accept the money. The report stated if he wasn't able to repay, the Dodgers' deal with FOX would be extended by as many as four years. McCourt has money woes due to a massive debt -- upwards of $430 million, according to reports -- and also due to a messy and costly divorce from his former wife Jamie.

The divorce certainly clouds matters for McCourt, since Jamie contends she is still a half-owner of the Dodgers. Any deal made would be subject to division by the court, in her view. Frank, of course, believes he is the sole owner of the Dodgers and can make any deal he wishes.

But McCourt is going to have to find another way to get himself out of the hole, because Bud Selig reportedly blocked the loan.

Back in 2004, when McCourt bought the Dodgers from FOX, he was lent $145 million by the company. He used his Boston parking lots as collateral, but FOX has since foreclosed on the property and sold it.

Basically, the whole situation is a mess. It won't affect the Dodgers on the field per se, but payroll could become quite strapped in future seasons for a franchise that should be able to handle one of the league's biggest payrolls.

-- Matt Snyder

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Posted on: December 7, 2010 12:15 pm
 

Judge rules in favor of Jamie McCourt

The biggest baseball story of the day may not be happening in Florida, but in California.

Judge Scott Gordon granted Jamie McCourt's plea to throw out a 2004 marital agreement that would have left her without an ownership share in Dodgers.

The Los Angeles Times has the entire story , but says the ruling "is not expected to have an immediate impact on the day-to-day operations of the team."

That said, this story isn't ending anytime soon and could continue for years.

-- C. Trent Rosecrans

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