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Torre Won’t Bid on Dodgers Without Parking Lots, L.A. Times Says

Feb. 24 (Bloomberg) -- Joe Torre and real-estate developer Rick Caruso won’t continue with their bid for the Los Angeles Dodgers unless they can also purchase the stadium’s parking lots, the Los Angeles Times said.

Caruso, in a Feb. 17 letter to Major League Baseball Executive Vice President Rob Manfred that was obtained by the Times, said team owner Frank McCourt has made it clear that he won’t sell the parking lots.

“Since the outset we felt that operationally it would be impossible to effectively manage baseball operations having the parking lots that surround the stadium under separate ownership,” Caruso wrote in the letter.

Caruso said his group would reconsider its decision to withhold a second-round bid if “the circumstances of the sale change.”

Torre managed the Dodgers from 2008-2010 after leading the New York Yankees from 1996-2007. He resigned as MLB’s executive vice president for baseball operations last month to align with Caruso.

The Dodgers have debts of about $570 million, the team said in a statement filed with its plan of reorganization last month.

McCourt will name the winning bidder by April 1 with the sale to be completed by April 30, the Times said. McCourt owes his ex-wife, Jamie, a $131 million payment by May 1, the Times said.

To contact the reporter on this story: Nancy Kercheval in Washington at nkercheval@bloomberg.net

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net

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