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Peter O’Malley drops out of bidding for Dodgers

Feb 21, 2012, 10:10 PM EDT

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Bill Shaikin of the Los Angeles Times reports that Peter O’Malley has withdrawn his bid to reacquire the Dodgers. O’Malley, whose family owned the franchise for 47 years until selling to NewsCorp in 1998, was partially backed by South Korean conglomerate E-Land.

O’Malley was one of 11 bidders who made it through the first round of the process, but Shaikin hears that O’Malley was concerned he might not win the bidding even if he made the highest offer. This could have something to do with O’Malley previously slamming outgoing owner Frank McCourt in the press.

The 10 groups remaining in the bidding are expected to submit new offers this week. McCourt faces an April 30 deadline to sell the team and has agreed to identify a specific buyer by April 1. The sale is expected to fetch an MLB record price tag in excess of $1 billion.

  1. jimbo1949 - Feb 22, 2012 at 12:57 AM

    A new For Dummies book: How to turn a parking lot attendant into a billionaire.

  2. cereal blogger - Feb 22, 2012 at 8:11 AM

    Can one of those guys buy the Baltimore Orioles next ?

  3. addict2sport - Feb 22, 2012 at 8:38 AM

    Any word on whether or not the parking lot is part of the sale?

  4. koufaxmitzvah - Feb 22, 2012 at 9:40 AM

    It says something about our American system of economics (which, no doubt, is similar to other countries versions of economics) where an awful person can come from out of state to control a franchise and systematically fork it over time and again, practically stabbing the thing to death, and can still come away with a monetary fortune that will satisfy him rest of his existence on this planet.

    To get political about this, Frank McCourt is one reason why I don’t want Mitt Romney as President.

  5. jkaflagg - Feb 22, 2012 at 7:51 PM

    No word yet on how many bidders are offering up a parking lot for collateral, and how big a loan they will ask for from the seller to complete the deal……I sure McCourt’s first rule before the bidding was, ” no Frank McCourts”…..
    The man knows better than to spend his own money when some many arrogant rich guys are willing to toss around millions to boost their egos…..

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