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The Battle of the McCourts Is Over... Sort Of

FILE - This March 19, 2009, file photo shows Los Angeles Dodgers owner Frank McCourt waiting to make his Town Hall Los Angeles speech at a Los Angeles hotel. Commissioner Bud Selig is taking away control of the Dodgers from McCourt, whose troubled finances and unresolved divorce settlement have seemingly paralyzed the once-proud franchise. (AP Photo/Chris Pizzello, File)
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According to Bill Shaikin of the LA Times, Frank and Jamie McCourt have agreed to a divorce settlement. While their bickering is over for now, there are still two crucial decisions that hang over the future of the Dodgers.

First MLB Commissioner Bud Selig must approve the long-term Fox television rights deal. The deal is in limbo until the investigation of the Dodgers' finances led by Tom Schieffer is completed. If Selig rejects the deal, this divorce settlement is voided. Jamie McCourt also agreed not to challenge the deal in court.

Secondly Judge Scott Gordon set a one-day trial on whether the Dodgers are community property for August 4. Both sides agreed not to appeal the decision.

If the Dodgers are found to be collective property, the Dodgers would be split 50-50 making it almost impossible for either Frank or Jamie to buy each other out.

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If the Dodgers are found to be sole property of Frank McCourt, Jamie McCourt would receive $100 million, the couple's homes and be released from tax liability.

While this is all well and good, there are other problems looming for the McCourts namely the June 30 payroll. While the last several payrolls have been met thanks to a dash of providence, Shaikin has also reported that without the Fox contract approved by Selig there would be no hope to meet the June 30 payroll.

If the Dodgers were to fail to meet payroll, MLB could seize the team and force a sale. Where that would fall in this settlement spectrum is unknown.

So what now? Unless the MLB investigation is concluded before June 30, that will be the date for Dodger fans to watch.

Update: Shaikin tweeted that according to David Boies, attorney for Jamie McCourt, a decision on the Fox contract should be expected by Tuesday.