Joe Torre and his business partner Rick Caruso have withdrawn their bid to purchase the Los Angeles Dodgers, according to a report today from Bill Shaikin of the L.A. Times.
Sources told Shaikin that owner Frank McCourt's refusal to include the Dodger Stadium parking lots in the sale was a major sticking point -- it's been speculated that McCourt plans to keep the lots and build on them.
It's unlikely that the former Dodgers manager will reenter the bidding war to purchase the team. While Torre and Caruso believed the parking lots to be negotiable, McCourt has said he has at least one bid that would allow him to keep the lots.
Caruso is perhaps best known for the Grove and Americana shopping and entertainment complexes in Los Angeles.