Peter O'Malley has withdrawn his bid to buy the Dodgers, two people familiar with the sale process said Tuesday.
The decision means the O'Malley family will not reclaim the stewardship of the team it owned for nearly half a century, a span during which the Dodgers won all six of their World Series championships.
O'Malley declined to comment. The people who confirmed the decision were not authorized to discuss it publicly.
Backed in part by the South Korean conglomerate E-Land, O'Malley was one of 11 bidders to survive the first cut. Blackstone Advisory Partners, the investment bank handling the Dodgers sale for owner Frank McCourt, has asked the remaining bidders to submit a new offer this week.
However, according to one of the people, O'Malley was concerned he might not win the bidding even if he made the highest offer.
O'Malley, 74, publicly called for McCourt to sell the Dodgers before Commissioner Bud Selig applied pressure for him to do so. In a September 2010 interview wi...