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Joe Torre Group Withdraws Bid To Purchase Los Angeles Dodgers

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The group led by Joe Torre has withdrawn its bid to purchase the Los Angeles Dodgers, the Los Angeles Times reported. According to the report, owner Frank McCourt’s refusal to include the Dodger Stadium parking lots in the sale was a major sticking point.

Torre’s partners include Los Angeles developer Rick Caruso and investor Byron Trott of BDT Capital. The remaining bidders, now believed to number nine and include a group headed by Magic Johnson, have been requested to submit a second bid this week.

McCourt must select a winning bidder by April 1 with the sale closing by April 30, the day he must pay former wife Jamie McCourt a $131 million divorce settlement.

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