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McCourt divorce nears final phases

Frank and Jamie McCourt recently agreed to sell the Dodgers baseball franchise. The news comes after the team has faced bankruptcy problems and the couple contested ownership of the team in a very complicated divorce.

In the high-asset divorce, Frank argued that the team was his exclusive property, which should not be subject to marital property division. Jamie argued that the team should be divided between the two divorcing spouses, and Jamie prevailed on that argument. The McCourts own not only the major league sports team but also surrounding parking lots and media rights valued in the billions of dollars.

This high profile divorce has played out in open court with details of outlandish spending on mansions, beach homes and allegations that the couple took over $100 million in loans from team-related businesses for personal use.

According to lawyers for Major League Baseball, much of the team's financial problems, including the bankruptcy petition, are due to the hundreds of millions that McCourt siphoned from the team's assets.

Many fans feel alienated due to McCourt's actions, and there's been a 21 percent decrease in the Dodgers' home-game attendance.

The couple reportedly has agreed upon a settlement that includes a cash payout to Jamie McCourt and her agreement to sign off on a deal for the sale of the team's media rights. However, specific terms of their agreement were not released.

While the property division contest between Frank and Jamie McCourt is an extreme example of how complicated a divorce can be, everyday people in Maryland and throughout the country experience similar problems when facing a divorce. Whether it is a dispute over ownership of a Major League Baseball team or ownership of the family home, people going through divorce can rely on experienced family law attorneys for answers to their legal questions.

Source: Fox News, "Frank McCourt Divorces Himself from the LA Dodgers," Nov. 2, 2011

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