In the continuing saga that is the sale of the L.A. Dodgers, one party has just taken their bid off the table. Former team manager Joe Torre and developer Rick Caruso are no longer in the mix. For those who perceived Torre and Caruso as the best potential owners for the team, this comes as a blow.
The reason the two cited for their acquiescence is that Frank McCourt, former Dodgers owner, is not relinquishing control of the parking lots surrounding the stadium. That means that potential owners would have to do business with McCourt on some level, a prospect that bidders find unanimously repugnant.
McCourt’s bankruptcy agreement determines that he must close a sale by April 30th. That gives bidders a chance to reformulate their deals in light of Torre and Caruso dropping out, but will any of them be able to swallow McCourt’s presence as owner of land outside the stadium? Could McCourt be pushed to include the parking lots in the deal for the stadium?
Why is he insisting on maintaining ownership when, at this point, he is essentially universally reviled by fans? Is it time for him to simply walk away?
Nick Roman, KPCC's Managing Editor
David Carter, Executive Director, USC Sports Business Institute