They call it a settlement. The truth is, it's not over yet. It was more than two years ago that Major League Baseball (MLB) team owners Frank and Jamie McCourt announced they were separating. Earlier this week they announced they have reached a settlement that involves him paying her about $130 million. This is not what would be called an inexpensive, uncontested divorce in Pennsylvania.

The framework of the deal appears to be this. Mrs. McCourt, who has been fighting her husband for half. ownership of their bankrupt MLB franchise, now agrees to give up any rights to the team. In return, Mr. McCourt pledges to pay her the hefty lump sum. But, as some experts point out, it's only a promise. It's not a payment

At the time of this post, it's unclear whether the dueling owners of the Los Angeles Dodgers have even filed the documents with the court. That isn't stopping a flurry of speculation. Among the questions being asked, how will McCourt come up with the required chunk of change?

According to the Los Angeles Times, the agreement is, in essence, a time clock for Mr. McCourt. He apparently must pay what he owes his wife, in full, by the spring. Citing people who are familiar with the case, the paper offers the following rundown of possibilities.

•· If Mr. McCourt succeeds in bankruptcy and retains control of the team in the spring, and he hasn't completely paid off the promised amount to his wife, he will have to put the team up for sale.

•· McCourt might be able to come up with the money by auctioning off the team's television broadcast rights. But such a move is liable to trigger a battle with the current rights holder. It's also likely that the league would argue that proceeds of such a sale should go back into the team.

•· If the bankruptcy court orders the Dodgers sold, and Mrs. McCourt hasn't gotten her money, she is the first in line to collect from the net proceeds of the sale. But team debts and the IRS come first. And there's no guarantee there will be $130 million left after all those other obligations are met.

Source: Los Angeles Times, "Divorce settlement solves one problem for Frank McCourt," Bill Shaikin, Oct. 17, 2011