Former Dodger’s CEO Requests Divorce Settlement To Be Dismissed
According to Frank McCourt’s attorney, Jamie McCourt, his ex-wife and former CEO of the Major League Baseball team the Los Angeles Dodgers, is no longer entitled to the $131 million she received in a divorce settlement. The reason given is that Ms. McCourt has asked to have the former divorce settlement, which she agreed to, thrown out, as she claims her now ex-husband devalued the true value of the Dodgers.
Mr. McCourt’s attorney argues that Ms. McCourt was fully aware of the team’s value after being provided with financial documents. According to Ms. McCourt, her ex-husband committed fraud by devaluing the Dodger’s assets to less than $300 million. Her attorneys believe that she was cheated out of over $700 million.
Court documents show that Ms. McCourt estimated the value of the team, stadium and parking lot at $2 billion. Her attorney, Burt Fields, claims that she relied on the figures provided to her and that the $1 billion dollar estimated value of a future regional sports network was not documented. Sacks argues that the reason future network details weren’t documented was due to it not existing yet. The couple divorced in October of 2010 and the Dodgers went bankrupt the following year.
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