The Minnesota Twins were on the market for nearly a year, but now ownership has shifted gears. Joe Pohlad, the executive chair, announced today that his family will no longer seek to sell a majority stake. Instead, they will invite a couple of new investors to buy minority stakes in the team.
Pohlad emphasized their goal was the long-term success of the Twins. He noted that they’ve been exploring various investment opportunities and concluded that the family would continue as the primary owners. They plan to bring in two limited partnership groups that will contribute valuable experience and align with their family values.
This change comes shortly after the Twins made drastic decisions during the trade deadline, letting go of 11 players. Among those traded was shortstop Carlos Correa, a key player who had the largest contract in team history at six years for $200 million. The team sent him back to the Astros and even paid $33 million to cover part of his remaining contract.
Notable players, including bullpen stars like Jhoan Duran and Griffin Jax, were also traded. Overall, the team reduced payroll by nearly $83 million. Initially, many believed this drastic shift aimed to attract potential buyers, especially after MLB Commissioner Rob Manfred expressed confidence that a sale would happen soon.
However, today’s announcement indicates the Pohlad family will not be stepping down. This means that the remaining talented players, such as All-Star center fielder Byron Buxton, might be at risk of being traded in the offseason. Buxton, who has expressed strong loyalty to the Twins, seems committed to staying. In contrast, other valuable players like Ryan Jeffers and Joe Ryan are now trade candidates.
The Pohlad family has owned the Twins for over 40 years. After Carl Pohlad bought the team in 1984 for $44 million, the Twins won two World Series titles in 1987 and 1991. However, ownership has faced challenges, including discussions of potentially selling or contracting the team in the late ’90s. After Carl’s passing in 2009, his son Jim took over and is still the team’s chairman today.
In recent years, there were signs of hope for the Twins’ future. The franchise set a record payroll of $154 million in 2023 and even made it to the playoffs, breaking a long postseason win drought. Yet now, fans are left with uncertainty. A potential buyer, Justin Ishbia, initially seemed poised to purchase the team but shifted focus to increasing his stake in the White Sox instead.
The Twins remain alongside the Angels and Nationals as franchises recently pulled from the market due to a lack of buyers. The expected changes to the ownership group are pending approval from Major League Baseball, with further details yet to be revealed.
Pohlad noted that they recognize the passion of fans and the community. Still, many supporters feel disillusioned, wishing for a significant shift in the team’s direction but left waiting. The future remains uncertain for this storied franchise, and as they navigate these changes, the Twins’ fanbase hopes for brighter days ahead.
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