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Spokane, Washington  Est. May 19, 1883

O’Malley To Sell Dodgers; Estate Planning The Reason

Associated Press

Peter O’Malley, whose family has controlled the Dodgers since 1950 - seven years before they moved from Brooklyn to Los Angeles - surprised the baseball world Monday by announcing the team is for sale.

O’Malley, about 60, said estate planning was the primary reason behind the decision. However, former Dodgers manager Tom Lasorda expressed the opinion that O’Malley was unhappy with the recent problems in the sport.

“It’s probably smart to plan for the future. That’s probably the main reason,” O’Malley said. “I’m not a tax expert, (but) it’s a pretty good idea not to have all your eggs in one basket.”

Lasorda, who retired as manager of the team last July after a minor heart attack, praised his boss, but added, “I think that Peter has just been unhappy lately with the situation, the direction the game of baseball is going.”

O’Malley didn’t give a direct answer when asked if his decision had anything to do with baseball’s labor problems, but did say his only regret in baseball was “the inability of the owners and the players’ association to work together for the good of the game.”

O’Malley succeeded his father, Walter, as president in March 1970, but none of Peter’s three children has had more than a part-time job with the team.

The sale price could be more than $300 million.

“There’s no pressure,” O’Malley said. “Results are more important than timing. We’ve probably received one offer a year for 25 years. I may be here for a long time. It will not be a circus.”