The divorce battle between Seattle Mariners co-owner Chris Larson and his soon to be ex wife, Julia Calhoun is unfolding even deeper. Last month, a trial valued Larson’s share in the Seattle Mariners at $641 million. King County Superior Court Judge, William Downing, based the ruling on testimony of two sports team valuation experts, and compared the Mariners favorably to the Texas Rangers, which sold for $593 million and the Houston Astros, which sold for $610 million, during the past year.
With a 30.6% share of the team, Larson remains the largest minority owner in the Mariners. His ownership is exceeded by the majority owner, Hiroshi Yamauchi, 84, who owns 55% of the team.
Larson’s wife originally sought a 50/50 split in assets for an approximate total of $300 million. However, the court ruled that a substantial part of Larson’s joint estate — Mudville Nine Inc., the company he used to purchase his stake in the Mariners starting in 1992, was his separate property and not subject to division with Calhoun. The asset has a value of $196 million with a discounted market value of $176 million if sold on its own as a minority share in the team.
The ruling gave his wife a much lesser award of $180 million — $27 million to be paid in cash during the next two years. However, Larson countered with an offer of $104 million with $25 million in cash, but the ruling will still cause challenges for his ownership stake in the Mariners because it requires that he absorb all of the couple’s outstanding debt, in excess of $150 million, as well as costs on his extravagant home estate.
For more information on filing for divorce in Orange County or Los Angeles County, contact an Orange County divorce lawyer for more information.