What went down: Frank McCourt is the CEO of McCourt Global, a real estate development company that focuses on building and selling parking lots. While not the most interesting job in the world, McCourt used his family’s real estate ties to build a hobby for his other passion — buying sports teams.
After relocating from Boston to Los Angeles, McCourt bought the Los Angeles Dodgers from Fox Entertainment Group in 2004, using debt to cover the hefty $430 million purchase. McCourt’s wife, Jamie, was installed as CEO of the team.
Then, on Oct. 14, 2009, the couple announced plans to separate. At the time, Jamie insisted the focus was on the Dodgers getting to the World Series that year. But the day after the Dodgers were eliminated from the playoffs, Jamie was fired as CEO. She officially filed for divorce not long after.
The ensuing legal battle all came down to who got the Dodgers. A settlement agreement finally arranged by the couple depended on Major League Baseball agreeing to a 17-year TV agreement. Ultimately, the networks involved bailed out. Jamie received $130 million, and Frank got the team in 2011.
Frank lost the team in 2012 due to financial mismanagement. At the time, the divorce was the most expensive in California history.