Minnesota Twins Halt Sale, Pohlads Commit to Future Ownership
UPDATE: In a stunning move, the Minnesota Twins are officially no longer for sale, as executive chair Joe Pohlad announced on Wednesday. After a thorough review of potential ownership changes over the past ten months, the Pohlad family will retain control of the franchise and welcome new investors instead.
The decision comes as a relief to some fans but raises eyebrows amid ongoing challenges for the team. The Pohlads, who purchased the Twins in 1984 for $44 million, are now seeking to add two “significant” limited partnership groups to enhance the franchise’s long-term vision. Specific details about these new investors remain confidential until they receive approval from Major League Baseball (MLB).
“We explored a wide range of potential investment opportunities, focusing on what’s best for the long-term future of the Twins,” said Joe Pohlad. This announcement follows a disappointing season where the Twins are on track for their lowest attendance in 16 seasons at Target Field, coupled with significant roster changes that have frustrated fans.
Financial reports from Forbes valued the franchise at $1.5 billion, ranking it 23rd in MLB, while other sources like Sportico and CNBC estimated the value even higher. Earlier this year, the Pohlads had hired Allen & Company, a New York-based investment bank, to oversee the sale process, which had included interest from potential buyers like Justin Ishbia, a part-owner of the NBA’s Phoenix Suns.
MLB Commissioner Rob Manfred acknowledged that Ishbia’s recent commitments with the Chicago White Sox sidetracked discussions about the Twins. “There will be a transaction; you just need to be patient while they rework,” he stated.
The Pohlads’ decision to stay in control raises questions about the future of the franchise, especially after a significant roster overhaul that included trading ten players before the July 31 deadline. Fans have expressed dissatisfaction, particularly after the team won the AL Central title in 2023 and secured their first playoff series win in 21 years.
Joe Pohlad assured fans of their commitment to building a winning team. “We see and hear the passion from our partners, the community, and Twins fans. That passion inspires us,” he said. Manager Rocco Baldelli also expressed support for the Pohlad family’s continued involvement, emphasizing their positive impact on the organization.
Despite a payroll reduction that slashed approximately $26 million from the team’s budget, including the controversial trade of shortstop Carlos Correa back to the Houston Astros, Pohlad indicated that the roster decisions were primarily baseball-driven rather than cost-cutting mandates.
The Pohlads are reportedly in discussions with one investment group comprising Minnesotans and another based on the East Coast. As the Twins navigate these changes, fans will be watching closely to see how the new partnerships will shape the future of the franchise.
As developments unfold, the urgency of the situation remains clear: the Minnesota Twins are committed to not only retaining their legacy but also revitalizing their competitive edge in Major League Baseball.
