According to Bill Shaikin of the Los Angeles Times, Frank and Jamie McCourt announced a divorce settlement on Friday that will ensure his continued ownership if he wins approval from Major League Baseball on a long-term television contract with FOX.  The decision on the contract is pending Commissioner Bud Selig, and should he reject the agreement the divorce settlement would be voided and the parties would continue their divorce proceedings.

A one-day trial will also occur where Los Angeles Superior Court Judge Scott Gordon could make a determination on whether the Dodgers belong solely to Frank McCourt or whether it’s community property.  If the team is community property then Frank and Jamie would split it 50/50 and likely result in a sale of the team.  If the team belongs to Frank, then Jamie would get $100 million and keep the couple’s homes and receiving indemnity from tax liability.

Image by FoxKat under the Creative Commons License.