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Rick Caruso, Joe Torre explain why they're out as Dodgers bidders

February 23, 2012 |  4:56 pm

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This is the text of a letter from Rick Caruso and Joe Torre to Major League Baseball explaining why they have withdrawn from bidding for the Dodgers:

Rick Caruso, Joe Torre drop Dodgers bid "As you are aware, we have been preparing a bid for the Los Angeles Dodgers Baseball Club and related assets. Our team has worked very hard over the past few months to develop what we are confident would be a compelling and competitive offer. As you know, the parking lots surrounding Dodger Stadium are not in bankruptcy and were not officially part of the bid process. Since the outset we felt that operationally it would be impossible to effectively manage baseball operations having the parking lots that surround the stadium under separate ownership. We believed that during the bid process that we would have the opportunity to buy the lots.

"It has now been made clear to us by Mr. McCourt that the lots are not and will not be for sale. We fully respect Mr. McCourt's decision to handle the sale of the Dodgers and its assets in the manner he sees fit. Although our application is ready to submit to you as requested, given these circumstances we do not feel we can proceed with the bid process and are therefore not submitting our applications. If the circumstances of the sale change we are prepared to re-engage in the process immediately. Thank you for your time and consideration."

(signed by Rick J. Caruso and Joe Torre)

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Rick Caruso, Joe Torre withdraw from bidding to buy Dodgers

-- Bill Shaikin

Photo: Former Dodgers Manager Joe Torre. Credit: Gina Ferazzi / Los Angeles Times

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