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McCourt Settlement: She Gets Houses, He Gets Dodgers...Maybe

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Well, the Dodger Divorce has been a lot of fun, but it's time to get down to some decisions here, and Frank and Jamie McCourt finally agreed on a settlement this morning...sort of. The deal hinges (at least partially) on a one-day August 4 hearing to decide if the Dodgers are community property. If it's found that they are, then the Dodgers, Dodger stadium, and all the surrounding parking lots would have to be sold and Frank and Jamie would split the proceeds down the middle. If it's found that the team belongs to Frank, then Jamie gets most of the couple's real estate--two houses in Holmby Hills, two in Malibu, a condo in Colorado, and two houses on Cape Cod (Frank will get a property at the Yellowstone Club in Montana--and $100 million. BUT all of that is "null and void" if Major League Baseball doesn't allow Frank to sign a television deal with Fox. Sources tell the LA Times that baseball Commissioner Bud Selig isn't likely to approve the contract, but Frank says he's confident Selig will now that Jamie's signed off. Frank also says he can make the Dodgers payroll either way, but everyone seems skeptical about that. If he doesn't make payroll, Selig could seize and sell the Dodgers. And who knows what either of the McCourts would end up with then.
· See the binding term sheet in Frank and Jamie McCourt's divorce [LADN]
· Divorce settlement heightens prospect of a McCourt-Selig showdown over Dodgers [LAT]
· McCourts' Divorce: So How Much Real Estate Are We Talking? [Curbed LA]