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Jamie McCourt gets four homes, Frank McCourt gets two

In a divorce settlement filed Thursday, Jamie McCourt keeps two homes in Malibu, one in Holmby Hills and one in Vail, Colo. Frank keeps two Massachusetts homes.

November 03, 2011|By Bill Shaikin
  • Frank and Jamie McCourt have a divorce agreement in place that would give her $131 million.
Frank and Jamie McCourt have a divorce agreement in place that would give… (Los Angeles Times )

Within 48 hours of agreeing to sell the Dodgers, team owner Frank McCourt officially surrendered his claim to what had been his Los Angeles homes.

Under a divorce settlement filed Thursday in Los Angeles Superior Court, Jamie McCourt kept four homes — two in Malibu, one in Holmby Hills and one in Vail, Colo. Frank McCourt kept two homes, both in Massachusetts. The McCourts sold a second Holmby Hills home in August.

Representatives for Frank McCourt did not immediately return messages asking whether he intended to move back to Massachusetts, where his family is deeply rooted. After the McCourts separated in 2009, he moved into a Beverly Hills hotel, eventually failing to convince the court that the Dodgers should be his and the homes should be hers.

Jamie McCourt has said she would "never" leave Los Angeles.

The financial terms of the settlement call for Frank McCourt to pay Jamie McCourt $131 million by April 30, with Frank getting a discount of $1 million per month for early payment. Major League Baseball hopes the Dodgers can be sold by opening day, scheduled for April 5.

Jamie gets the first $131 million of net sale proceeds, unless Frank has otherwise has fulfilled his payment obligation. Until then, Jamie McCourt remains entitled to $225,000 per month in spousal support.

The Times reported last month that the McCourts had agreed on the terms of a settlement. By knowing how much he would owe Jamie, Frank could negotiate an agreement to sell the Dodgers, confident that an auction of the team would generate enough money to satisfy his debt and tax liability and leave him with a profit as well. Based on court records in California and Delaware, that would require that the Dodgers be sold for $1 billion or more.

bill.shaikin@latimes.com

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