Thursday, July 15, 2010
McCourts rankle judge; could force sale
LOS ANGELES -- The list grew by one of the people tired of hearing Frank and Jamie McCourt bicker.
The addition? The judge presiding over their divorce.
The Los Angeles Dodgers could be ordered sold if the McCourts do not resolve payments, including property taxes and attorney's fees, according to the Los Angeles Times.
Each McCourt continues to complain of low liquidity, and L.A. Superior Court Commissioner Scott Gordon thought of one way to resolve their cash flow issue -- putting a for sale sign at Chavez Ravine, the newspaper said.
"The parties are unintentionally pushing the court toward an interesting position -- selling the asset which is being fought over," Gordon said in a court hearing.
The Dodgers and their facilities are worth over $700 million, according to Forbes Magazine. According to an article in the July issue of ESPN The Magazine, Frank McCourt has borrowed an estimated $390 million against the team.
Observers of the divorce view the court commissioner's language in the court ruling as a threat. The commissioner is more likely to make the McCourts sell off other assets such as one of their many estates.
The McCourts purchased the Dodgers in 2004 from News Corp. Under the McCourts ownership, the Dodgers have been to the playoffs four times, advancing to the NLCS in 2008 and 2009.