Monday, October 17, 2011
Frank And Jamie McCourt Reportedly Reach Settlement
Last week, Bill Shaikin wrote that Frank could be utterly ruined if MLB forced a Dodgers sale, mainly thanks to the debtor-in-possession financing lately acquired.
Update: Bill Shaikin again is on top of it, asking a question I saw posted on Facebook earlier today, namely, how will Frank pay Jamie if he's completely without cash? He has a deadline to achieve the $130M:
If the court orders the Dodgers sold, Jamie would get the first $130 million of net proceeds. The debt load and tax liability in such a sale could be so high that the net proceeds do not exceed $130 million. That could leave Frank with nothing from the sale.Best Case Scenarios Dep't ...