Posts Tagged ‘Los Angeles Dodgers’

MCCOURTS DIVORCE COSTING $19 MILLION IN LEGAL FEES

March 6, 2010

JAMIE AND FRANK MCCOURT

Everybody has heard the joke: “Why do divorces cost so much?  Because they’re worth it.”

If that’s the case, then Los Angeles Dodgers owner Frank McCourt and his soon to be ex-wife Jamie must REALLY hate each other.  According to the Los Angeles Times, the couple is spending $19 million in attorneys fees for their divorce.

THE MCCOURTS TRICKLE ON THEORY OF ECONOMICS

February 24, 2010

JAMIE AND FRANK MCCOURT

According to the Los Angeles Times business section, Los Angeles Dodgers owners Frank and Jamie McCourt earned $108 million from 2004 through 2008. They paid $ 0 in federal income tax and $0 in state income tax on that income. They are probably not going to pay a dime in taxes this year either.

There is no indication that the McCourts did anything untoward or illegal in escaping a tax bill. They simply took advantage of existing tax law, particularly in the commercial real estate business. In addition to real estate loopholes, the McCourts also took out a $140 million bank loan against the value of the Dodgers. Included in that loan was $20 million the McCourts paid themselves to “fund their lifestyles.” Tax free.

The McCourts also used “depreciation” rules quite liberally. For instance, they purchased the Dodgers from Rupert Murdoch of NewsCorp and Fox TV for $430 million in 2004. On paper, the McCourts could actually claim a financial loss for the Dodgers by using existing tax laws. They simply claimed the standard depreciation deduction for the first five years that they owned their baseball team. Even though the Dodgers made enormous amounts of money during that time. Last year, the Los Angeles Dodgers brought in $275 million in revenues. Their team payroll was $100 million. Also, keep in mind, Frank McCourt paid NO MONEY to acquire the Dodgers. He simply flipped a parking lot that Murdoch wanted in Boston and parlayed that into his ownership of the club.

Even Jamie McCourt’s own lawyer seemed embarrassed by the Times’ findings and admitted about the money the couple “lost” from ’04-’09, “They’re tax losses. I don’t mean REAL losses.” The McCourts’ tax issues are just another thing being made public in the couple’s ugly divorce. Jamie McCourt had also revealed that she and her husband paid themselves between $2 million and $3 PER MONTH in salary and expenses from the Dodgers. That money was also tax free which is a good thing for Mrs. McCourt considering her poor choices in boy toys.

TMZ.com also ran an article that showed Frank McCourt spent $52,000 on clothes since November and recently took an $81,000 vacation. Jamie McCourt also wants her spousal support raised to $2 million per month. Since Frank McCourt has no other job or business that produces ANYTHING, that money would come straight from Dodgers fans.

GREATEST ARTICLE ON THE MCCOURTS EVER

December 2, 2009

 

Tiger Woods, Jamie and Frank McCourt

THE CLOSEST FRANK AND JAMIE MCCOURT ARE GOING TO COME TO A BILLION DOLLARS

Oh!

My!

God!

A tip of the hat to Fanhouse.com for coming up with the quintessential story on Los Angeles Dodgers owners Frank and Jamie McCourt. The McCourts are currently going through a nasty Hollywood divorce. As part of her divorce filing, Jamie McCourt is demanding $400,000 per month from her soon-to-be ex-husband in “spousal support.” However, there’s a problem. Fanhouse says, according to court documents filed by Frank McCourt himself, he’s a little cash poor and can’t afford the payment.

Care to take a guess at Frank McCourt’s entire net worth?

Would you believe that (not including the Dodgers) Frank McCourt has a total of $167,000 in the bank. That’s not a lot for a guy who’s claimed to be a “billionaire.” As Fanhouse hilariously points out, that’s less than one week’s salary for Dodgers reserve outfielder Juan Pierre. The McCourts have been paying for all of their living expenses, including private jet travel, by charging it to the Dodgers. Living expenses that include this $46 million Malibu mansion:

mccourthouse

It’s pretty bad when practically every single homeowner who reads this post has a “real estate empire” greater than Frank McCourt’s. Now you know why McCourt’s wife was commiting adultery with a guy she thought was an heir to the Pillsbury fortune, but who in reality turned out to be a deadbeat dad who beats pregnant women.

The story is also yet another example of what a complete and utter buffoon Major League Baseball commissioner Bud Selig is. When Rupert Murdoch and Fox sold the Dodgers in 2004, Selig personally lobbied for McCourt as the club’s new owner. This despite the fact that McCourt literally had NO MONEY. McCourt owned ONE parking lot in Boston. Murdoch and the bank let McCourt put the parking lot up for collateral when he went to buy the Dodgers. Eventually, Murdoch accepted the parking lot as full payment for the Dodgers. Murdoch flipped the property for $200 million in cash.

Bank of America certainly knew how broke McCourt was. They actually put a clause in the the Dodgers deal that prohibited McCourt from paying himself more than a $5 million annual salary. Since McCourt only has $167,000 in the bank, it’s a good thing he paid himself the $5 million. The B of A clause also reveals what a sham Jamie McCourt’s being named “the highest ranking female executive in baseball” was. Making her Dodgers CEO was just a scam by the McCourts to pull more cash out of their Dodgers piggy bank.

BUD SELIG: SURE CAN PICK EM!

JAMIE MCCOURT LOSES DODGERS, GAINS BROKE GUY WHO BEATS PREGNANT WOMEN

November 5, 2009

JAMIEMCCOURTFULLER

JEFF FULLER AND JAMIE MCCOURT

The joke is on Jamie McCourt. The wife of Los Angeles Dodgers owner Frank McCourt thought she was leaving her husband for an “heir to the Pillsbury fortune.” It turns out that Jeff Fuller is a deadbeat dad who’s broke and beats pregnant women.

TMZ discovered Fuller’s ex-wife. She provided court documents that reveal Fuller physically abused her when she was seven months pregnant. Fuller is also in arrears on his child support payments. How could a guy who’s been reported as a “Pillsbury heir” not be able to afford child support? Easy, says his ex-wife. Turns out he’s “broke.”

The news of Fuller being a broke, deadbeat, woman beater comes on the same day that a Superior Court judge denied Jamie McCourt’s request to be reinstated as Dodgers CEO. She was fired by her soon-to-be-ex-husband Los Angeles Dodgers owner Frank McCourt last month. An executive for the club testified that Mrs. McCourt didn’t care about the Dodgers, regularly skipped team meetings and didn’t know ANYTHING about baseball. Her lawyer sniffed that,

“This lady eats, lives, breathes Dodgers. Besides her children, it’s the most important thing in her life.”

DODGERS PITCHER VICENTE PADILLA SHOT BY IDIOT: HIMSELF

November 4, 2009

vicentepadillala

VICENTE PADILLA

Los Angeles Dodgers pitcher Vicente Padilla was shot in the leg Tuesday in a gun mishap at a Nicaraguan shooting range. Reports say Padilla accidentally shot himself.

Original rumors had Padilla being shot by his bodyguard.

*Turns out Padilla was actually shot by the world’s worst “shooting instructor” while at a gun range.

JAMIE MCCOURT ALSO SLEPT WITH HER CHAUFFEUR

October 29, 2009

JAMIE MCCOURT: BILLED DODGERS FOR TWO WEEKS IN FRANCE WITH HER BOY TOY

The Frank and Jamie McCourt divorce case is getting more and more salacious. And interesting.

Mrs. McCourt’s divorce attorney started the day by announcing an offer to buy out her husband and become sole owner of the Dodgers. Frank McCourt responded by announcing that his soon-to-be ex-wife had slept with her driver (hired by the Dodgers) as well as the team’s “Director of Protocol.”

The McCourt divorce also hit the financial pages as well as the the gossip pages as it was profiled in a bloomberg.com piece. Yahoo! Sports and the Philadelphia Daily News also ran stories detailing Jamie McCourt’s sex life.

(L-R)Owner Frank McCourt, manager Joe Torre, owner Jamie McCourt of the Los Angeles Dodgers and Think Cure president Janet Clayton escort the Dodgers and the Boston Red Sox into the Los Angeles Memorial Coliseum before the game on March 29, 2008 in Los Angeles, California.

JAMIE MCCOURT: SHOWN HERE POSING WITH ALL THE MEMBERS OF THE DODGERS STAFF AND BASEBALL PEOPLE THAT SHE HAD SEX WITH

DODGERS “OWNER” WAS SCREWING THE HELP

October 25, 2009

JAMIE MCCOURT WITH NEW BOYFRIEND-FORMER DODGERS “DIRECTOR OF PROTOCOL” JEFF FULLER

The celebrity website TMZ.com has the story today that Jamie McCourt, who is going through a nasty divorce with Los Angeles Dodgers owner Frank McCourt, has been sleeping with a former Dodgers employee. TMZ identifies Jeff Fuller as “the new guy” in Jamie McCourt’s life. Fuller is the Dodgers former “director of protocol,” the ironically named title he held before he was caught screwing the boss’s wife.

The Torrance Daily Breeze reported yesterday that one of the stated reasons in Jamie McCourt being fired by her husband, as Dodgers CEO, was her “inappropriate behavior with regard to a direct subordinate.”

Fuller appears to be an upgrade from “The Parking Lot Attendant.” He apparently has way more actual money than Frank McCourt. Fuller is an heir to the Pillsbury fortune. He was fired by the Dodgers earlier this month.

Geez, I wonder why?

CLASSY FRANK MCCOURT FIRES THE MRS. VIA REGISTERED MAIL

October 25, 2009

JAMIE AND FRANK MCCOURT

TMZ already had the story that Los Angeles Dodgers owner Frank McCourt has fired his estranged wife via a “Notice of Termination of Employment” letter. Saturday’s edition of the Torrance Daily Breeze listed some of the reasons for Jamie McCourt’s dismissal contained in that letter.

Frank McCourt accuses his wife of “insubordination, nonresponsiveness, failure to follow prodedures, and inappropriate behavior with regard to a direct subordinate.”

The letter also tells Mrs. McCourt that she has to make an appointment with Dodgers security to clean out her desk and bring back her team issued laptop.

DODGERS OWNER FIRES HIS WIFE

October 23, 2009

JAMIE MCCOURT: HIGH POWERED BUSINESS EXECUTIVE OR GOLD DIGGER?

Los Angeles Dodgers owner Frank McCourt has fired his wife. Jamie McCourt was the club’s CEO.

Local media has been pounding the fact that California is a community property state and Mrs. McCourt may be entitled to $750 million for her share of the Dodgers. Jamie McCourt has been telling media that the team is half hers and she is the Dodgers 50% owner.

One reporter snidely asked Jamie McCourt’s lawyer how, if she’s the “owner” of the Dodgers, could she be fired?

The lawyer responded, “That’s a question the judge is going to have to answer.”

JOE TORRE DENIES DODGERS ARE A “LIVING HELL”

October 15, 2009

People Dodgers

FRANK AND JAMIE MCCOURT: MAKING LIFE A “LIVING HELL” FOR DODGERS MANAGER JOE TORRE?

According to lead ESPN baseball analyst Peter Gammons, Los Angeles Dodgers manager Joe Torre may not stay with the club past next season because the team’s ownership is making his life a “living hell.” Gammons also said the Dodgers ownership situation is a mess that he didn’t think “anybody wants to put up with too long.” He made his comments to New York sports radio talk show host Michael Kay, who is also a broadcaster for the Yankees.

Torre denied his life with the Dodgers was a “living hell” at the NLCS press conference on Wedneday. However, news did come out that Dodgers owner Frank McCourt and his wife Jamie (also the team president) have separated. Fox Sports is reporting that the McCourt’s upcoming divorce is “not amicable” and that both sides are “lawyering up.” Divorce may end up affecting the Dodgers, just as it destroyed the San Diego Padres franchise.

The LA Times updated its website Thursday afternoon saying Jamie McCourt has “no interest in surrendering her ownership” of the Dodgers. Others have been quoted as saying the team was sold to Frank McCourt alone. The Times article quotes a source as saying, “It’s going to be ugly.”