A second round of mediation brought Los Angeles Dodgers owners Frank and Jamie McCourt no closer to an agreement in their divorce, and no further talks are scheduled, according to a Los Angeles Times article.
With no settlement in sight, a judge has until Dec. 28 to rule on whether or not a 2004 agreement that makes Frank McCourt the sole owner of the MLB team is valid, or if it should be nullified, which would make the team community property.
The high profile trial was held last month to determine the ownership of the team, currently valued at more than $1 billion, as part of the McCourt’s divorce action. The 2004 agreement is in contention because the couple had drawn up a revised marital agreement in 2008 that would have made them joint owners in the team. However, Frank McCourt never signed the revised agreement.
Frank’s attorneys have notified the court that if the judge throws out the 2004 agreement, they plan to seek a second trial to argue that the team is his sole property because he purchased them through a company he established prior to the marriage.
Attorneys have estimated that if Frank prevails, Jamie’s share of their community property would add up to “only” $70 million.