NEW YORK - Former Yankees manager Joe Torre resigned from his executive position within Major League Baseball in order to become part of a group that is looking to buy the Los Angeles Dodgers.

Torre has served as MLB's executive vice president of baseball operations since February after retiring as manager of the Dodgers in 2010.

In his role with MLB, Torre served as Selig's primary liaison with all 30 teams, dealing with all baseball and on-field matters, the press release stated.

"Joe has been an invaluable resource for me and all of us at Major League Baseball this year and has splendidly communicated with our on-field personnel, general managers and the umpires," MLB Commissioner Bud Selig wrote.

"I understand his desire to pursue an opportunity in Los Angeles. Joe has been a life-long friend and I know that will continue in the future."

Opening bids for the bankrupt franchise are due by Jan. 23.

The Dodgers extended the deadline by 10 days Tuesday due to the high level of interest in buying the iconic club.

According to the Los Angeles Times, Torre is joining forces with Los Angeles developer Rick Caruso to pursue the team.

Former Lakers star Magic Johnson is part of a group that plans to bid on the team, while former talk show host Larry King joined a separate group.

Former Dodgers Steve Garvey and Orel Hershiser have also expressed interest in forming an investment group to bid on the team.

Other potential bidders include Dallas Mavericks owner Mark Cuban and Pittsburgh Penguins co-owner Ron Burkle.

Dodgers owner Frank McCourt and MLB agreed that a winning bid would be announced by April 1 and the sale completed by April 30.

Torre, 71, was a nine-time All-Star as a player in the 1960s and 70s before winning four World Series titles as manager of the Yankees in 1996, '98, '99, and 2000. He was fired by the Yankees in 2007 and spent the next three seasons as manager of the Dodgers.

"I am so appreciative of the chance the Commissioner gave me to see the game from a different perspective by working for Major League Baseball, especially during such a great time for our sport," Torre said.

"I have made this decision because of a unique chance to join a group that plans to bid for the Dodgers. After leaving the field, this job was an incredible experience, one that I enjoyed very much.

"I want to thank the Commissioner and all of my colleagues over the last year, particularly the members of the Baseball Operations group and the Major League Umpires."

Selig said Senior Vice Presidents Joe Garagiola, Jr., Kim Ng and Peter Woodfork would share Torre's duties on an interim basis until a permanent replacement is named.