Joe Torre’s group pulls out of the bidding for the Dodgers because McCourt won’t sell the parking lots
Feb 24, 2012, 9:06 AM EDT
The Los Angeles Times reports that Joe Torre’s ownership group — backed by real estate developer Rick Caruso – has pulled out of the bidding for the Dodgers. Why? Because Frank McCourt wants to keep the parking lots.
Caruso and other bidders thought the purchase of the lots would be negotiable. However, in a recent meeting with Caruso, McCourt said he intends to keep the lots and develop them, according to the people familiar with the sale process … McCourt divided the Dodgers and the parking lots into separate entities in 2005, with the approval of Major League Baseball. The Dodgers are in bankruptcy, but the McCourt entity that controls the parking lots is not.
Frank McCourt: buys the Dodgers on the back of a big parking lot deal in Boston, drives them into the ground, and wants to come out richer on the other end on the back of another parking lot deal.
So glad that Selig and company let this vulture into the ownership club.
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