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Frank and Jamie McCourt have reached a divorce settlement, according to three people familiar with the case, says the LAT's Bill Shaikin. They are in court this morning to inform the judge. Shaikin says a source told him the deal is contingent on baseball approving Frank McCourt's big TV deal with Fox.
* Shaikin updates: Jamie agrees not to challenge the Fox loan. Plus Frank must win sole ownership of the deal at a trial to come, then pay Jamie $100 million, let her keep the couple's homes and provide her indemnity from tax liability.
More details comning from the reporters in court or outside, via Twitter:
- Settlement calls for $385 million up-front "loan" from Fox, including $235 million used for Dodgers, $80 million for debt payments.
- Frank to pay Jamie $650,000 a month spousal support.
- One-day trial Aug. 4 to decide who owns Dodgers.
- If the Dodgers are determined to be community property, the team will be sold and the proceeds divided evenly.
- Jamie's lawyer expects baseball to decide action against Dodgers, if any, by Tuesday.
Bottom line, tweets Shaikin: "Settlement is 'null and void' without MLB approval of Fox deal. That is considered highly unlikely."