ROGER, DODGER: If shopping is to women what sports are to men, Rick Caruso wants to become gender inclusive. Along with former Yankees and Dodgers manager Joe Torre, the developer of Southern California shopping centers The Grove and The Americana at Brand, and possible Los Angeles mayoral candidate, has entered the growing field of hopeful Dodgers owners. His upcoming bid for the team, which is due Jan. 23, has sparked speculation about the revival of a plan to turn Dodger Stadium’s environs into a destination for shops and restaurants. Embattled owner Frank McCourt shelved a $500 million renovation of the stadium and the land surrounding it that would have added a new retail component this year.
Caruso isn’t the only Dodgers bidder with ties to retail and apparel that’s aligned with a sports icon. Guggenheim Partners chief executive officer Mark Walter is part of a group that includes Lakers legend Magic Johnson and Stan Kasten, former president of the Atlanta Braves and Washington Nationals. BCBG has a $229 million second lien term loan held by affiliates of the financial services firm Guggenheim Partners, which, through its Guggenheim Securities arm, also recently advised Pacific Sunwear of California Inc. in a $60 million investment deal with Golden Gate Capital and Martha Stewart Omnimedia Inc. in connection with J.C. Penney Co. Inc.’s investment of $38.5 million for a 16.6 percent stake in the company. A deal to nail the Dodgers would be considerably pricier at potentially more than $1 billion. Batters up.
This story first appeared in the January 5, 2012 issue of WWD. Subscribe Today.