Former New York Yankees manager Joe Torre and a group attempted to purchase the Los Angeles Dodgers have withdrawn their bid.
Torre is part of a group spearheaded by Los Angeles real estate tycoon Rick Caruso.
In a letter to Major League Baseball, they cited Dodgers owner Frank McCourt's refusal to include the stadium parking lots in the sale as the reason for pulling out of the bidding process.
The Los Angeles Times reported that multiple bidders thought the purchase of the parking lots could be negotiated, but McCourt intends to keep them and develop them.
According to the report, McCourt has said he has at least one interested party who would buy the club and allow McCourt to retain ownership of the lots.
Torre had stepped down from his role as MLB's executive vice president of baseball operations to pursue the purchase. A former star catcher, he won four World Series titles with the Yankees before he was named manager of the Dodgers.