LOS ANGELES (Reuters) - Los Angeles Dodgers owners Frank and Jamie McCourt on Friday announced a settlement of their bitter divorce and agreed to allow a judge to decide ownership of the team.
The divorce settlement between the two calls for a Los Angeles Superior Court judge to conduct a one-day trial in August to determine if the Dodgers belong solely to Frank McCourt or if his ex-wife has a 50 percent stake.
If Frank McCourt wins the ownership battle, he has agreed to pay his ex-wife $100 million under the settlement agreement. She also would own nearly all of their residential properties.
Frank McCourt told reporters after the hearing that the agreement represents a victory for both parties and for Dodger fans.
"I am pleased for everybody," McCourt said outside court.
In April, Major League Baseball took over the day-to-day operations of the Dodgers out of what Commissioner Bud Selig said was concern over the club's finances.
Selig appointed former Texas Rangers president Tom Shieffer to run the team.
(Reporting by Alex Dobuzinskis: Editing by Dan Whitcomb)