Frank McCourt to pay ex-wife $131M

Updated: November 4, 2011, 3:10 PM ET
Associated Press

LOS ANGELES -- Los Angeles Dodgers owner Frank McCourt must pay his former wife and ex-team CEO Jamie McCourt $131 million by the end of April as part of their divorce settlement, according to a binding settlement filed Thursday.

The agreement was signed by the former couple last month but made official Thursday. It calls for the lump sum to be paid in cash and would be tax-free. If Frank McCourt comes up with the money before April 30, 2012, $1 million per month will be shaved from his ...

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