Axios Twin Cities

October 11, 2024
Happy Friday!
- Mostly sunny, breezy and a high in the low 70s, per NWS.
Yom Tov for those observing Yom Kippur this weekend.
📅 Programming alert: We're off for the weekend, and our colleagues will be in your inbox Monday with a special send.
- Looking to celebrate Indigenous Peoples Day early? Check our Weekender for more on an Indigenous arts fair and tomorrow's festival at Owámni.
Today's newsletter is 923 words — a 3.5-minute read.
1 big thing: Local teams, out-of-towner owners
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.
2. New coffee shop at George Floyd Square
A new coffee shop near George Floyd Square in South Minneapolis plans to hold its grand opening this Sunday, Racket reports.
The latest: Bichota Coffee at 38th & Chicago is the first brick-and-mortar location of a roaster that launched late last year.
The vibe: Warm, sunny, cozy — with tasty conchas from Marissa's Bakery.
3. The Spoon: Lynx pull out dramatic victory
🏀 The Lynx came from behind and won an overtime thriller over New York to take a 1-0 series lead in the WNBA Finals. (ESPN)
🏒 Minnesota Wild fans made hundreds of friendship bracelets and held a moment of silence to honor the Columbus Blue Jackets' Johnny Gaudreau, who was killed this summer, before the two teams' season opener. (Axios)
🏈 Gov. Tim Walz will attend Friday's Mankato East-Mankato West high school football game and Saturday's Pheasant Opener in Sleepy Eye as part of a push to win over male voters. (Politico)
- An interview with ABC's Michael Strahan, a former football player, will air this morning on "Good Morning America."
🚧 Stretches of Interstate 494 will closed from 10pm tonight through 5am Monday: The westbound lanes between 35W and Hwy. 100 and the eastbound lanes between Hwy. 100 and Hwy. 77. (Star Tribune)
🍩 Party like it's 2002: Krispy Kreme is plotting a Minnesota comeback with a store and production kitchen in Fridley. (Minneapolis/St. Paul Business Journal)
4. Minnesota drug overdose deaths drop

Drug overdose deaths in Minnesota are trending downward.
The big picture: Fatal drug overdoses, which fell in the U.S. last year for the first time since before the pandemic, are continuing to decline nationwide.
Driving the news: In Minnesota, drug overdose deaths dropped 8% from 2022 to 2023, preliminary data released Wednesday by the state Department of Health shows.
- If the numbers hold, it will be the first time since 2018 that overdose deaths declined in Minnesota.
Zoom out: Public health experts are stunned by how dramatically deaths are falling nationwide, NPR reports.
- Preliminary CDC data shows a 10% decline nationwide between April 2023 and April 2024.
What's happening: More data and research is needed to determine what's driving the decline, but experts have theories.
- National and state health officials have noted that naloxone is more widely available, and more drug users carry the medication with them for safety.
Yes, but: Non-fatal overdoses involving fentanyl, a top driver of deaths, as well as opioids other than heroin, increased by 11% in Minnesota year over year.
- And deaths involving psychostimulants — a category that includes methamphetamine and cocaine — rose statewide.
What we're watching: The 2023 state budget dedicated more than $200 million to tackling substance use and overdose deaths.
The bottom line: While the trend is encouraging, more than 1,200 Minnesotans still died of overdoses in 2023.
Fresh Finds
🌱 Discover new local events
The Minneapolis Pancakes & Booze Art Show at Granada Theater on Oct 12: Come experience one of the largest pop-up art movements to hit North America over the past decade. Celebrating over 10 years of serving FREE PANCAKES and introducing you to some of the nation's leading emerging artists. $10.
Hosting an event? Email [email protected].
5. 🏡 Hot home: Tiny living near the Falls
This charming tiny home just steps from Minnehaha Park is now on the market for $270,000.
Why we love it: The house packs plenty of modern updates into its 588 square feet, including an upgraded kitchen and new extra bedroom, and the location can't be beat — Minnehaha Falls is only a 10-minute walk away.
Layout: The home has two bedrooms, one bathroom, an unfinished basement, back deck and detached garage.
6. ⭐️ 1 photo to go: Look up
Audrey snapped this picture of the northern nights outside of Stacy last night.
Zoom out: The aurora lit up skies across the U.S. (and the world) this week after a powerful solar storm triggered the stunning celestial displays.
✈️ Torey is making a quick trip to the East Coast to meet her new niece!
⚾️ Nick is moving some money around in his bank accounts to see if he can scrounge up $1.5 billion. He's really regretting buying that e-bike now.
🍁 Kyle is excited to go on a fall colors drive this weekend.
This newsletter was edited by Emma Hurt.
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