@@Minnesota Twins

Why are the Minnesota Twins FOR SALE?

  • October 11, 2024



Why are the Minnesota Twins FOR SALE?

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The Minnesota Twins announced Thursday that they are for sale, potentially ending one of the longest-tenured ownerships in Major League Baseball.

The Pohlad family, which bought the Twins for $44 million in 1984, said it has retained Allen & Company, the investment banker that commonly facilitates sales of sports franchises. The Twins are estimated to be worth between $1.5 billion and $2 billion.

“After months of thoughtful consideration, our family reached a decision this summer to explore selling the Twins,” the team said in a statement. “As we enter the next phase of this process, the time is right to make this decision public.”

Read More: https://www.espn.com/mlb/story/_/id/41718735/twins-estimated-worth-15-2-billion-put-sale

Since moving to Minnesota from Washington, D.C., in 1961, the Twins have been owned only by Calvin Griffith and the Pohlads, whose patriarch, Carl, purchased the team and passed it to his son Jim. It is currently controlled by his grandson Joe.

Only the New York Yankees, Chicago White Sox and Philadelphia Phillies have been under the same ownership for longer than the Twins.

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44 comments

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  8. The Pohlads had their run, they brought two World Series wins to Minnesota in the early years, and ever since then they have given up on the franchise. The only reason the franchise is still around is because the local Hennepin county court told the team you gotta play out the rest of your lease. We’re not gonna stand for this contraction nonsense.

    Carl was a jerk, he just threw his team in the rain to possibly be disbanded

    But, they did do a lot for this community. And they’re not in a rush to sell. They have a strong lease at Target field, which is still a great baseball stadium. They’re not going anywhere.

    It will be interesting to see who ends up picking them up. Not bad when Carl paid $44 million for the team in 1984, and now his family is going to sell it for about $1.5 billion.

  9. That guy can give me a cookie-cutter, warm and fuzzy statement all he wants – this is NOT good for the fans of the team or the people of the community. Just you watch – private equity money will enter the equation and take a once fantastic franchise into the toilet. I think this is a problematic situation for Twins fans and Major League Baseball, but the captain of the ship – Rob Manfred – could NOT give less of a fuck. The guy allowed John Fisher to obliterate a fan base's dedication to a ball club, giving them an opportunity to move to SacramentoVegasLakeCity (and I do believe that any of those options are on the table because John Fisher, like the scum bag rat that he is, will go where there is the most cheese available).

    We're just very busy entering into this post-COVID era of life where nothing matters to people more than money, fandom be dammed. And Manfred can tell us all he wants that baseball isn't dying – he's full of shit. The money may be there, but the people that were busy hoisting this game on their shoulders by showing up and supporting MLB for years on end either can't anymore or won't. I'm getting there. These helmet ads have put a real dagger in my heart coupled with the garbage uniforms (just the fact that they were allowed to go to professional athletes in the first place and ONLY fixed because enough of them caused a fuss) and ticket prices. I've really had enough.

    So, much like my words to A's fans, I'm very sorry you have to deal with this Twins fans. I wouldn't believe a word that guy has to say. This is going to the highest bidder and if it's trash private equity money where "n0tHiNg i$ g0iNg t0 cHaNgE", well, don't believe him. They don't get into the fray to have nothing change. EVERYTHING will change and your interest in the game will suffer a great hit. Someone please tell them that their uniforms are garbage, tho. To no one's surprise they look remarkably shitty.

    These are the bummer years of baseball.

  11. Pohlads went full cheapskate mode last season and tried to spin it as a positive thing to the fans. Good riddance Pohlads, also the team isn't going anywhere, Target field is a great ballpark

  15. Target Field was 435 M (175 M from team, 260 M from public funds) and there were extra costs for infrastructure that totaled 120 M (90 M public, 20 M from team, others chipped in like Target). Relatively new stadium also built in 2010. Took a long time to get built also from when Twins and MLB were at the point where they needed a new one. 16 years,

    "The Twins were in their 13th season in the Metrodome when they formally declared their desire to find a new home on July 18, 1994. Carl Pohlad, owner of the Twins, told the Metropolitan Sports Facilities Commission (owners of the Metrodome) the current facility was "economically obsolete" due to changes in the economy of Major League Baseball.[15] This declaration started a process which would culminate nearly 16 years later with the opening of Target Field. In the intervening years, many ideas, financing plans and possible locations came and went. The long process included threats of relocation, infighting between the Twin Cities of Minneapolis and St. Paul, and numerous pieces of legislation (both passed and not passed) at various levels of government. The process spanned the terms of three Minnesota governors, five mayors of Minneapolis or St. Paul, and even two long-tenured Twins managers."

  16. You're burying the lede here, Twins fans were PLEASANTLY surprised. The Pohlads have been getting in the way of this team actually competing at the top level for decades

  17. Look for a Utah investor to buy the team and move it to Salt Lake City .. If they were desperate enough to want the A’s who nobody wants they would jump at a shot to get a real MLB club with a real owner

  18. MLB just needs a salary cap. Big market/revenue teams just have too much of an advantage. It's past time now, that that changes. It's run more like the premier league in England just without relegation or promotion. Other sports are better for leveling playing field.

  21. MN native here, The Pholad family are billionaires and aren't dumb, with $50 mill less revenue, even cutting payroll by $30 mill means big losses. They arent't dummies and are in business to make money, not lose it.

  22. If the team is in a family trust with third generation beneficiaries I can see why they want to sell. Twenty grandkids gets difficult to handle. They can sell and get their money out as cash.

  24. The Twins are not moving. Some of you people really need to get out more.

    Minnesota is a top 15 market. They are not the Dakota's. There is real money in Minnesota. There are 18 fortune 500 companies headquarters there and all 4 professional sports teams for a reason.

  27. MLB really needs a revenue model more closely tied with the NFL or even the NHL with revenue sharing, a salary cap and floor IMO. Hopefully the sale (if it happens – see Nationals sale that did not happen) works out good for Twins fans. Many of us former and current Pirates fans can only hope that Bob Nutting sells that team. The Penguins spend more on salary than the Pirates and have fewer players on their roster.

  30. There’s no reason the fans should be worried the Twins are moving. So much has changed in 25 years. They have a new stadium whet have a team that’s capable of winning. There above average in attendance, Target Field is a great venue. I think there is a relation to them loosing RSN revenue and the Pohlads selling. I live in Twins territory and have a lot of family and friends who are Twins fans. Some are happy the family is selling. I’m cautious though. There’s no guarantee a new owner is going to do anything different.

  31. The Pohlad's are among the wealthiest owners in all of baseball and have routinely been among the stingiest with money. No one in Minnesota is sad to see them go. There was a guy at the last series of the season with a defund the Pohlad's sign. We want someone to come in who actually cares. People always say Minneapolis is a small market, but it's not. Minneapolis-St. Paul is the 15th largest tv market in the country. San Francisco-Oakland is 10th. We want someone who doesn't use that stupid small market excuse

  37. The seller sees the cable TV money saying goodbye, and haven't received enough assurances from MLB that the money would be replenished. Since the sellers are known tightwads(any Twins fan will verify), they chose to sell.

    Will the new owners be tightwads also is the question

  38. As a former Twins season ticket holder (Dome and Target Field) I am not shocked. The ownership situation has been a little unstable since Carl passed away and I think the tv situation was sort of a last straw for the family. They’ve always maintained they had to more or less break even on operations (never mind that the value of the asset was growing like crazy) and it’s pretty clear they won’t do so for at least a few years with the restructuring of game viewing rights. Hopefully they can identify an owner that is “rooted” in Minnesota – I know when the Vikings had absentee ownership in the Metrodome years that was a concerning situation.

  42. My question isn't why they're selling it, but why they think it's the right time. My first thought is the same one that you discussed i.e. that the Twins don't have a local TV deal. That puts a "distressed asset" element into the sale. Why didn't they at least wait until the TV deal was stabilized?

  44. In addition to the great information, thanks, Brodie for the insight into this issue. I'm not a Twins fan, but I think general baseball fans are interested.

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