Joe Torre resigns from MLB to bid for LA Dodgers

Former Yankees and Dodgers manager Joe Torre has resigned from his post with Major League Baseball to try to buy his former Los Angeles baseball team. Torre, 71, was appointed baseball's executive vice-president for baseball operations in February, overseeing areas that included on-field discipline and umpiring. Torre, who played 18 seasons in the majors, managed the Dodgers from 2008-2010 following a 12-year stint as manager of the New York Yankees where he won the World Series four times. "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," he said. Last November the current owner Frank McCourt agreed to sell the Dodgers after a two-year court battle with his ex-wife and the League. McCourt and Major League Baseball agreed to seek approval from the U.S. Bankruptcy Court for an auction of the team. The sale is expected to include the team, Dodger Stadium and the surrounding parking lots, a package bought by McCourt for $421 million in 2004. The Dodgers could now be sold for around $1billion. The new owner would be the third since Peter O'Malley sold the team to News Corporation in 1998, who then sold to McCourt. The Dodgers had been owned by the O'Malley family since Walter O'Malley moved the team from Brooklyn to Los Angeles in 1958. USA Today has a list of potential bidders for the Dodgers: • Steven Cohen of the hedge fund SAC Capital Advisors. • Former Los Angeles Lakers star Magic Johnson, former Braves and Nationals president Stan Kasten and Guggenheim Partners chief executive officer Mark Walter. • Former agent and current White Sox special assistant Dennis Gilbert, talk show host Larry King and Jason Reese of Imperial Capital. • Former Dodgers GM Fred Claire, former Oakland Athletics president Andy Dolich and former Dodgers batboy Ben Hwang, who brought in the financial backers. • Former Dodgers owner Peter O'Malley. • Former Dodgers stars Orel Hershiser and Steve Garvey, as well as Joey Herrick of Natural Balance Pet Foods. • Dallas Mavericks owner Mark Cuban. MLB Commissioner Bud Selig said: "Joe has been an invaluable resource for me and all of us at Major League Baseball this year and has splendidly communicated with our on-field personnel, general managers and the umpires. I understand his desire to pursue an opportunity in Los Angeles. Joe has been a life-long friend and I know that will continue in the future."