Yesterday, Frank McCourt and Jamie McCourt agreed to a new spousal support arrangement. Frank McCourt will continue to pay the same amount of monthly spousal support, but funds used to pay for the mortgages of six homes will now come from an escrow account. Despite the agreement on spousal support, the former couple has failed to agree upon the ownership of the Los Angeles Dodgers; a matter that will be addressed in future court dates.
In July Frank McCourt filed a spousal support modification request and the hearing for the request was held yesterday. Frank McCourt argued that over the last year he paid Jamie McCourt, his former wife, more than $7 million but that future payments should be based on his current annual income of $5 million. In opposition, Jamie McCourt argued that her former husband received more than $44 million since June 2010 and that he also should pay for her attorneys’ fees.
The judge ruled that Frank McCourt would continue to pay $225,000 per month in spousal support to Jamie; however, the funds to pay for mortgages on six homes will now come from a $1.1 million escrow account. Previously, Frank McCourt was paying an additional $412,159 to meet the costs of the six mortgages.
The most controversial aspect of the McCourt divorce remains to be solved. Frank McCourt and Jamie McCourt still dispute the ownership of the Los Angeles Dodgers. In December a judge ruled a postnuptial agreement that gave Frank sole ownership of the club invalid. Thereafter Jamie McCourt claimed half ownership of the club.
The former couple is scheduled to address the ownership issue again in November.
Source: The Associated Press, “Dodgers owner reach temporary spousal support deal,” Greg Risling, Sept. 15, 2011