SDfansince'86
02-06-2008, 01:51 PM
I came across this atricle while browsing through the UT online...
These being the owners of the Pads, I figured it was pretty relevent info. Sad though after 44 years of marriage...:(:o
http://www.signonsandiego.com/sports/padres/20080206-9999-1s6moores.html
Becky Moores, wife of Padres owner and downtown developer John Moores, has filed for divorce after more than 44 years of marriage.
It is not known how the proceedings will affect the team, if at all.
Becky Moores cited irreconcilable differences in the divorce filing, which does not specify how their assets will be divided. The filing states that the exact nature and extent of their community property is unknown at this time.
“It is anticipated that a settlement of all issues will be reached,” the filing states.
“Everybody's got the best interest of the Padres in mind,” said Sandra Morris, Becky Moores' attorney. “They will do everything they can to protect the Padres. Both people care about it a lot. The family cares about it a lot.”
Morris declined to go into details or comment further.
Team officials declined comment, and John Moores did not return a request seeking comment.
In California, a spouse is entitled to half of community property, which is defined as assets acquired or income earned by a married person while living with his or her spouse.
John Moores bought 80 percent of the Padres in 1994 for a reported $80 million. His net worth has been estimated in recent years by Forbes magazine at about $750 million. The magazine projected the value of the Padres at more than $360 million.
Moores also is chairman of JMI Realty, the master developer of the downtown ballpark district.
“Any way they split the property 50-50 is fine,” said USD law professor Michael Kelly, who is not involved in the case. “If she got other investments for the same amount, that could satisfy the law. If there were enough investments to make that work, I think it's likely the court is likely to leave the person who manages the business as the owner of the business and have the spouse take other assets – at least where the spouse who owns the business is asking for that.”
Such cases often are resolved through negotiation.
Among many other philanthropic efforts, the couple donated $21 million to establish the John and Rebecca Moores Cancer Center at UCSD.
The Moores met in high school history class in Texas and married in 1963.
They have four adult children, including Jennifer, a minority owner of the Padres.
These being the owners of the Pads, I figured it was pretty relevent info. Sad though after 44 years of marriage...:(:o
http://www.signonsandiego.com/sports/padres/20080206-9999-1s6moores.html
Becky Moores, wife of Padres owner and downtown developer John Moores, has filed for divorce after more than 44 years of marriage.
It is not known how the proceedings will affect the team, if at all.
Becky Moores cited irreconcilable differences in the divorce filing, which does not specify how their assets will be divided. The filing states that the exact nature and extent of their community property is unknown at this time.
“It is anticipated that a settlement of all issues will be reached,” the filing states.
“Everybody's got the best interest of the Padres in mind,” said Sandra Morris, Becky Moores' attorney. “They will do everything they can to protect the Padres. Both people care about it a lot. The family cares about it a lot.”
Morris declined to go into details or comment further.
Team officials declined comment, and John Moores did not return a request seeking comment.
In California, a spouse is entitled to half of community property, which is defined as assets acquired or income earned by a married person while living with his or her spouse.
John Moores bought 80 percent of the Padres in 1994 for a reported $80 million. His net worth has been estimated in recent years by Forbes magazine at about $750 million. The magazine projected the value of the Padres at more than $360 million.
Moores also is chairman of JMI Realty, the master developer of the downtown ballpark district.
“Any way they split the property 50-50 is fine,” said USD law professor Michael Kelly, who is not involved in the case. “If she got other investments for the same amount, that could satisfy the law. If there were enough investments to make that work, I think it's likely the court is likely to leave the person who manages the business as the owner of the business and have the spouse take other assets – at least where the spouse who owns the business is asking for that.”
Such cases often are resolved through negotiation.
Among many other philanthropic efforts, the couple donated $21 million to establish the John and Rebecca Moores Cancer Center at UCSD.
The Moores met in high school history class in Texas and married in 1963.
They have four adult children, including Jennifer, a minority owner of the Padres.