Report: Torre, Caruso Drop Bid For Dodgers
LOS ANGELES (CBS) — Real estate developer Rick Caruso and former Dodgers’ manager Joe Torre have dropped their joint bid to buy the Dodgers, the Los Angeles Times reports.
The sale, which is expected to fetch as much as $1.5 billion, includes the team, television rights and Dodger Stadium. Current owner Frank McCourt has the option to retain the parking lots surrounding the stadium.
According to the Times, Caruso dropped his bid based on McCourt’s refusal to include the parking lots in the sale.
McCourt has final say on the new owner and has agreed to select the winning bidder by April 1.
Other bidders reportedly interested in the franchise include Steven Cohen, Mark Cuban, Stan Kasten/Magic Johnson, Stanley Gold (Disney), Dennis Gilbert and Jason Reese/Randy Wooster.
In a court ruling issued earlier this year, the team listed $573 million in debt — a number that could potentially still turn into a profit for McCourt.
McCourt bought the team in 2004 for $430 million.
The Dodgers will open the 2012 season on April 5.