Pohlads no longer exploring sale of the Minnesota Twins
Add Axios as your preferred source to
see more of our stories on Google.
Twins executive chair Joe Pohlad looks on during a team workout in 2024. Photo: Brace Hemmelgarn/Minnesota Twins/Getty Images
The Pohlad family has abandoned its plans to sell the Minnesota Twins, announcing Wednesday it instead intends to add two new partners to the team's ownership group.
Why it matters: The family that has controlled the team for more than 40 years — one of only two owners the franchise has ever known — will remain in principal control of the Twins.
- "This ownership group is committed to building a winning team and culture for this region, one that Twins fans are proud to cheer for," the family's statement read.
The big picture: The decision raises questions about the Twins' future. In recent years, many fans concluded the Pohlads no longer had the stomach for baseball's turbulent economics.
- The team lost its lucrative local TV deal, sparked backlash by slashing team payroll by $30 million after a 2023 playoff run, and last month traded away star shortstop Carlos Correa — along with more than a third of the active roster.
- In the wake of these moves, attendance has fallen off.
Zoom in: The Pohlads are now bringing in "two significant limited partnership groups" to — in the family statement's words — "strengthen the club in a rapidly evolving sports landscape."
- Though the family didn't name the new partners, the Star Tribune reports they are an investor group and a "family based on the East Coast."
- It's not clear how much of the franchise these new partners will own, but the Pohlads' statement said they "will bring a wealth of experience and share our family values."
Between the lines: Many fans had hoped new ownership would breathe new life into a franchise that has made the American League Division Series just three times since moving into Target Field in 2010.
- The Pohlads' talks with billionaire Justin Ishbia — who invested in fan-friendly improvements for Phoenix's NBA and WNBA teams — reportedly fell through.
What they're saying: Many fans' initial reactions were harsh. "Legit nightmare fuel," blogger Ted Schwerzler posted.
The other side: WCCO Radio host Jason DeRusha offered a more measured take, saying he preferred a "local owner rather than [a] rando rich guy."
- "This is an affirmative move by a generation that seemed lukewarm" on ownership, he added. "Hopefully they're all in now."
The intrigue: The addition of these new partners will help the Pohlads pay down debt the franchise has accumulated, which, according to The Athletic, is now more than $400 million.
Editor's note: This story has been updated with additional reaction.