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Blog Entry

Torre's group out of bidding for Dodgers

Posted on: February 24, 2012 9:16 am
Edited on: February 24, 2012 10:24 am
 
Joe TorreBy C. Trent Rosecrans

Joe Torre is no longer the Dodgers' manager and it appears he won't own the team, either.

Torre and Los Angeles developer Rick Caruso have withdrawn their bid to buy the Dodgers, Bill Shaikin of the Los Agneles Times reports.

Caruso and Torre cited current owner Frank McCourt's refusal to include the Dodger Stadium parking lots in the deal as the reason they were pulling out of the bidding. The report notes the pair could reenter the bidding if McCourt agrees to include the parking lots.

With the Torre-Caruso pairing out of the bidding, there are still thought to be nine groups bidding for the team, including one led by Magic Johnson and former Braves and Nationals executive Stan Kasten.

The agreement between Major League Baseball and McCourt allows him to retain ownership of the parking lots and even build parking structures on the land if he wants. The new owners of the team would inherit the lease for the parking lots at $14 million per season, with increases starting in 2015.

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Comments

Since: Apr 25, 2008
Posted on: February 24, 2012 4:09 pm
 

Torre's group out of bidding for Dodgers

"Why is MLB allowing him to retain anything?  There is documented evidence from the divorce procedings that show McCourt bought the Dodgers using fraudulent means, convincing MLB he had more money than he did, in order to loot the franchise of cash via loans.  He planned to gut the payroll and development programs as well.  He's a huckster, and shouldn't be able to retain the parking rights.  He's already removed his pound of flesh from the Dodgers, he should be shown the door.  No deals."

I am making an educated guess here but i think its because the parking lots are owned by a completely different business that McCourt has.  a lot of businesses do this to protect against law suits.  and since the business that owns the land, was not part of the dodgers (the dodgers paid rent they dont own it) then MLB has no leg to stand on with the land since its not part of the baseball team.  my family does the same thing with our business.  we have a corp that owns the land, and then the business itself.  we pay rent to from one business to the other in order to keep it seperate so in a law suit against the business the land can not be touched.  even though McCoourt owned both, one was paying rent to the other because they are two seperate companies.

  

  


comeonabbie
Since: Feb 24, 2012
Posted on: February 24, 2012 12:30 pm
This comment has been removed.

Post Deleted by Administrator




Since: Nov 14, 2006
Posted on: February 24, 2012 12:13 pm
 

Torre's group out of bidding for Dodgers

Why is MLB allowing him to retain anything?  There is documented evidence from the divorce procedings that show McCourt bought the Dodgers using fraudulent means, convincing MLB he had more money than he did, in order to loot the franchise of cash via loans.  He planned to gut the payroll and development programs as well.  He's a huckster, and shouldn't be able to retain the parking rights.  He's already removed his pound of flesh from the Dodgers, he should be shown the door.  No deals.



Since: Oct 31, 2006
Posted on: February 24, 2012 11:51 am
 

Torre's group out of bidding for Dodgers

What happens if everyone pulls out of the bidding and he can't sell?  Does the court take over the team?



Since: Oct 31, 2006
Posted on: February 24, 2012 11:50 am
 

Torre's group out of bidding for Dodgers

He'll probably charge $250.00 to park daily just to keep screwing MLB and keep the stadium empty.  C'mon man



Since: Jan 18, 2012
Posted on: February 24, 2012 11:38 am
 

Torre's group out of bidding for Dodgers

Totally bummed when I heard Peter O'Malley had withdrawn is name from consideration.  Hands down, one of the best ownership families in all of sport for a long, long time!



Since: Apr 25, 2008
Posted on: February 24, 2012 10:21 am
 

Report: Torre's group out of bidding for Dodgers

he prob has a dif corp. that owns the land.  so MLB can't mess with that or go after them.  We do it it at our business.  one corp. owns the land and one owns the company.  the company corp pays the land corp rent, its income for one and an expense write of for the other.

but the advantage is then no one can sue you for both or you cant have both taken away because of something that happens at one.  if someone sues/buys/forces your out of the the business, who ever comes in will have to pay you rent to your other company that owns the land.    



Since: Sep 18, 2007
Posted on: February 24, 2012 10:19 am
 

Report: Torre's group out of bidding for Dodgers

McCourt has to keep screwing the Dodgers!



Since: Nov 16, 2011
Posted on: February 24, 2012 9:46 am
 

Report: Torre's group out of bidding for Dodgers

This is beautiful--McCourt sells the team but not the parking areas.  So fans can come to see the new Dodgers under new ownership but have to park their cars on land owned by Frank and pay him for the priviledge.  If he couldn't run the Dodgers completely into the ground, he now owns the ground. 

What does this say about MLB.  They are the ones who are structuring the deal and they are letting this happen.  The Torre group is smart to pull out-dealing with Mccourt and MLB is a no-win situation.


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