When two people in Ohio or anywhere in the U.S. decide to divorce, it can be very stressful for both parties. In cases where a couple shares valuable assets, divorce can result in a costly legal battle to divide their collective wealth. The Los Angeles Dodgers owner could be heading back to court after a TV deal that was set to be a major factor in his divorce settlement fell through.
The proposed media deal with Fox was worth a rumored $3 billion, $385 million of which would have been paid to the team’s owner upfront. But the tentative divorce settlement between him and his wife hinged on the deal being approved by the Major League Baseball commissioner as his wife would receive a portion of it. But the commissioner decided that it was not in the best interests of the team and did not approve the deal.
The Dodgers owner is reportedly paying his wife $650,000 a month in spousal support under the current settlement. The agreement detailed how the $385 million advance from Fox would be divided. However, now the TV deal has been voided, and the couple could be returning to court to renegotiate. The pair is already scheduled to appear in court for a day in August, to determine who the rightful owner of the Dodgers is. If the court decides that the deed to the team is community property, it will be split between both parties like their other marital assets.
Divorce can be hard on any couple, and reaching a settlement that both parties agree on can take time. Property division is at the heart of many separation disputes, especially when ownership is called into question. Couples in Ohio that are seeking a divorce may find it helpful to speak with an experienced legal professional.
Source: Whiotv.com, “Selig Rejects McCourt’s TV Deal,” SportsDirect, 22 June 2011