Joe Torre Resigns as MLB Executive to Join Group Purchasing LA Dodgers

Joe Torre announced his resignation as MLB executive vice president on Wednesday, Jan 4, so he could join a group that is pursuing ownership of the LA Dodgers. Torre managed the LA Dodgers from 2008-2010. Joe Torre, a popular motivational speaker through PFP Sports and Celebrity Talent Agency, has resigned as MLB executive vice president to pursue the purchase of the LA Dodgers.

“I am so appreciative of the chance (commissioner Bud Selig) gave me to see the game from a different perspective by working for Major League Baseball, especially during such a great time for our sport,” Torre said. “I have made this decision because of a unique chance to join a group that plans to bid for the Dodgers. After leaving the field, this job was an incredible experience, one that I enjoyed very much. I want to thank the commissioner and all of my colleagues over the last year, particularly the members of the baseball operations group and the major league umpires.”

The group Torre is joining is backed by Los Angeles real estate developer Rick Caruso, president of Caruso Affiliated, known for building high-end outdoor shopping centers, including The Grove, a 20-acre retail, dining and entertainment site adjacent to the Farmers Market in Los Angeles.

“In Rick I found a partner who understands consumers and fully appreciates that the Dodgers are a treasured LA institution,” Torre said. “Since moving to Los Angeles, I have seen firsthand Rick’s dedication to business and the people of Los Angeles.”

Source: ESPN

A number of groups have expressed interest in buying the Dodgers. Former team stars Steve Garvey and Orel Hershiser headline one group, Lakers legend Magic Johnson leads another, while former Dodgers owner Peter O’Malley has put his name in the ring.

The team will be sold in a bankruptcy auction, similar to how the Rangers were sold last year. Mavericks owner Mark Cuban came in second in that bidding and has also said he would be interested in the Dodgers at the right price.

Initial bids for the team are due by Jan. 23 with the Blackstone Group, Frank McCourt’s investment banker. The price likely will break the record for a baseball franchise, topping the $845 million paid by the Ricketts family for the Chicago Cubs in 2009.

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