Frank McCourt, the owner of the Los Angeles Dodgers, continues to struggle as a result of his high profile divorce. The California resident now faces the loss of ownership of the prominent ball club, because it is looking unlikely that Fox Sports is going to follow through with their original plan to enter into a $3 billion extended television contract with the team. McCourt is struggling to find debt relief in the wake of a settlement with his ex-wife that placed the ownership of his beloved Dodgers on the edge of a knife.

Some believe that the decision to forego the TV contract is a smart choice on the part of Fox Sports. While it's very unlikely that the network is concerned over Mr. McCourt's divorce proceedings, the fact of the matter remains that the network would be spending $3 billion and would likely prefer the money not be spent in search of debt solutions during the aftermath of divorce.

June 30th marked the day that the Dodgers owner was required to make his regular payroll payments as well as a sizable installment to a well-known leftfielder. Baseball insiders are curious whether or not McCourt will be able to come up with the money required to meet his upcoming financial obligations. As it stands, Frank McCourt is hinging his hopes on the television deal.

It is still uncertain as to whether or not Major League Baseball will refuse the agreement between Fox Sports and the Dodgers. It's also unclear if the media giant can simply back out of the agreement. Sources indicate that it is possible for a bankruptcy judge to overrule a decision by baseball commissioner not to sign off on the television contract and could instead mandate that a contract with Fox Sports is required to settle Mr. McCourt's debts.

While not everyone who is facing divorce and in need of debt relief can relate to the California owner of a major league baseball team, it is possible that individuals who find themselves in a similar situation will benefit from the aid of legal counsel. A working knowledge of the law as it pertains to divorce proceedings and debt solutions may help other people avoid some of the heartache associated with the division of assets.

Source: Yahoo Sports, "Fox won't bail McCourt out of bankruptcy: A fan's reaction," Todd Pheifer, 23 June 2011