WEST PALM BEACH, Fla. -- Four-time Winston Cup champion Jeff Gordon reached a divorce settlement that guarantees his former wife at least $15.3 million.

Brooke Gordon waived alimony and will get the money from the sale of two properties, including the couple's oceanfront home in Highland Beach, according to court documents.

It was unclear when the properties would be sold or how the couple would divide other assets, which include boats, an airplane and cars.

Brooke Gordon filed for divorce in March 2002 after seven years of marriage, citing marital discord. She was "extremely pleased" with the settlement, said her lawyer, Terry Young.

Jeff Gordon also said he was happy with the terms.

In early court filings, Jeff Gordon estimated his worth at about $48.8 million and his 2001 earnings at more than $18 million.

Generally, Florida law requires assets amassed during a marriage to be split evenly, but Jeff Gordon contended he should not have to split the couple's estate because he risked his life to collect it.

Brooke Gordon argued her husband was worth more than he said. According to court filings, appraisals showed the value of the race teams at five times what Jeff Gordon reported in affidavits.

"The settlement recognizes what we contended was Mr. Gordon's net worth as opposed to what he contended it was," Young said.

Their divorce was set for a six-day trial in October until a settlement was reached after a 12-hour, court-ordered mediation session.