Alan Casden said Tuesday he was "disappointed" that his bid to buy the Dodgers was turned down by Major League Baseball.
Casden does not plan to appeal the decision to the court-appointed mediator, his spokeswoman said. MLB had concerns about the financial structure of Casden's bid, according to a person familiar with the sale process.
Casden, a Beverly Hills real estate developer and member of the USC Board of Trustees, also tried to buy the Dodgers in 2003, before Fox sold the team to Frank McCourt.
"As a lifelong fan of the Dodgers since I sold programs at the Coliseum as a boy in 1958, I am obviously disappointed with Major League Baseball’s decision to drop our bid.