Portrait of John K Grubb

Texas Divorce and Prenuptial Agreement

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Divorce Puts Dodgers Baseball Franchise in Jeopardy

Since 2004, Frank McCourt and his wife Jamie have been owners of the Los Angeles Dodgers baseball franchise. A real estate executive, Frank initially went after the Boston Red Sox, but, after unsuccessfully bidding for that storied franchise, he managed to purchase the Dodgers from Rupert Murdoch’s Newscorp for $430 million. Couples with significant financial assets should consider speaking with a Houston prenuptial agreement attorney about the effects of divorce.

This August, a judge will decide who owns the Dodgers as a result of the divorce between Frank and Jamie who had been together for 30 years. If the judge awards the team solely to Frank, then Frank has agreed to pay Jamie $100 million, and Jamie will also get the couple’s homes. If the judge determines that they both own the team, the two will split the franchise’s assets 50/50.

The divorce proceedings make ownership of the Dodgers even more uncertain given recent problems with the team’s finances. In April, commissioner Bud Selig placed an MLB representative in charge of the Dodgers’ finances. Frank financed his purchase of the Dodgers largely with debt and a personal loan from Fox Entertainment Group. Fox foreclosed on some of Frank’s Boston parking lots, which he had used as collateral. More information on the effects of divorce on property that spouses own is available from a Houston divorce lawyer.

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