As Twins go on the market, local billionaires are not in high supply
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All four of Minnesota's biggest men's pro sports teams could soon be owned by out-of-state billionaires.
Why it matters: With the Pohlads putting the Twins on the market, fans are hoping for a deep-pocketed owner with a commitment to winning. But the likelihood that person lives here looks slim.
The big picture: Minnesota billionaires have stayed on the sidelines — at least publicly — when franchises with increasingly higher price tags have recently gone on sale. The Twins are worth about $1.5 billion, per Forbes.
State of play: The Vikings are owned by the Wilf family of New Jersey, and Craig Leipold of Wisconsin owns the Wild.
- New Yorker Marc Lore and Alex Rodriguez will soon go to arbitration with Mankato billionaire Glen Taylor, hoping to force him to sell the Timberwolves and Lynx.
- If Taylor loses, that would leave the Twins, owned by the Pohlad family for 40 years, with the last local owners of the big four franchises.
The fine print: Albeit on a smaller scale, former UnitedHealth CEO Bill McGuire brought Minnesota United FC up to Major League Soccer by paying a $100 million franchise fee and spending $250 million on a stadium.
Follow the money: Just five of the nation's more than 800 billionaires live in Minnesota, according to Forbes.
- In addition to Taylor, there's 91-year-old broadcasting mogul Stanley Hubbard; Cargill heirs John and Martha MacMillan and healthcare tech founder Jeffrey Michael.
- WCCO's Chad Hartman posted that the Davis family, behind Cambria, reached out years ago about buying the Twins.
Reality check: It's possible a local could join a larger ownership group's bid. Wolves legend Kevin Garnett was part of a group that tried to buy the NBA team from Taylor in 2021.
Between the line: An outside owner can stoke fears of an impending team relocation, which happened when outside real estate mogul Norm Green moved the North Stars to Dallas in 1993. But the two that have recently acquired Minnesota teams have planted roots here.
- The Wilf family spent $90 million on a state-of-the-art training facility in Eagan that has earned the Vikings a ranking as the best employer in the NFL by the player's union.
- Leipold built the Wild a downtown practice facility, invested in St. Paul real estate and is now committing $250 million to Xcel Energy Center upgrades.