Rick Caruso, Joe Torre withdraw from bidding to buy Dodgers
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Rick Caruso and former Dodgers manager Joe Torre have withdrawn a joint bid to buy the Dodgers, three people familiar with the sale process said Thursday.
Caruso cited owner Frank McCourt’s refusal to include the Dodger Stadium parking lots in the sale, according to the people, who declined to be identified because they were not authorized to discuss the sale process.
In this letter to Major League Baseball, Caruso and Torre explain why they are withdrawing from the Dodgers bidding process.
Caruso could reenter the bidding if McCourt were to agree to sell the parking lots, the people said. McCourt has told people he has at least one bid in which the buyer would let him retain ownership of the parking lots.
Caruso is the Los Angeles developer perhaps best known for the Grove and Americana shopping and entertainment complexes. He commissioned studies on how to improve parking and traffic at Dodger Stadium and ultimately decided he could not provide the desired fan experience without control of the parking lots.
Caruso and other bidders have believed the purchase of the parking lots would be negotiable. Caruso’s decision to withdraw offers the clearest evidence yet that McCourt intends to keep the lots and try to build on them.
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