Explaining Southern California's economy

Dodgers sale: Rick Caruso and Joe Torre yank bid over parking lots

Dodger Stadium Bleachers

pvsbond/Flickr (cc by-nc-nd)

The bleachers stand empty at Dodger Stadium in Los Angeles, California.

Parking lots? Yes, parking lots. The Dream Team of bidders for the bankrupt Los Angeles Dodgers, developer Rick Caruso and former Dodgers manager Joe Torre, has dropped out of the final rounds of bidding because current owner Frank McCourt insists on keeping the parking lots that surround Dodger Stadium.

The Los Angeles Times has obtained a copy of the letter that Caruso and Torre sent to Major League Baseball on Feb. 17. In it, they leave open the possibility of re-entering the fray. But in retrospect, we should have seen this coming. The parking lots aren't part of the bankruptcy proceeding. But it was widely assumed that McCourt would let them go to sweeten the deal. 

Of course, McCourt is, down deep, a parking lot guy. This is where he made his money, back in Boston before he came west to try his hand an running a storied MLB franchise. Caruso is also a parking lot guy, in a manner of speaking. If he and Torre had been able to buy the Dodgers, he would have let Joe run the team while he set about remaking Chavez Ravine in the manner of the Grove and the Americana at Brand, his beloved, Vegasized shopping meccas in L.A. 

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Dodgers sale: New York media mini-mogul and Trump son-in-law Jared Kushner jumps in

Game Over McCoourt

Corey Bridwell/KPCC

Kristie Wold from Downey, CA celebrated McCourt's decision to part with the Dodgers on Wednesday, November 2, 2011.

Well, this was totally unexpected. Jared Kushner — the boyish owner of the New York Observer, scion of a somewhat controversial money clan from the Big Apple, and husband to Ivanka Trump — has made it to the next round of bidding for the Los Angeles Dodgers. How Kushner gets through when Dallas Mavericks owner Mark Cuban doesn't is a mystery to me. But there he is. This is from Bill Shaikin at the LA Times:

Jared Kushner, born into a prominent New York real estate family and son-in-law of Donald Trump, has emerged as a candidate in the bidding for the Dodgers.

Kushner, who became owner and publisher of the New York Observer in 2006, has played a key role in expanding the family business beyond real estate. At 31, he would be the youngest owner in Major League Baseball.

The Kushner bid is one of at least nine to advance to the second round of the Dodgers' ownership sweepstakes. The bid has not previously surfaced publicly and was confirmed by a person familiar with the sale process but not authorized to discuss it.

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