The Pohlad Family Announces Intention to Sell Minnesota Twins

The Pohlad family, long-standing owners of the Major League Baseball team, the Minnesota Twins, announced on Thursday that they are exploring the sale of the franchise. This move could potentially end one of the league’s longest-tenured ownerships. The family has engaged Allen & Company, an investment bank known for facilitating sports franchise transactions, to manage the sale. The Twins, purchased by Carl Pohlad in 1984 for $44 million, are now 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,” stated the team in a formal announcement. “As we enter the next phase of this process, the time is right to make this decision public.” The family has owned the team since it was moved to Minnesota from Washington, D.C. in 1961, firstly under Calvin Griffith and subsequently under Carl Pohlad and his descendants.

Throughout their tenure, the Pohlad family found initial success with the Twins, notably achieving World Series victories in 1987 and 1991. These triumphs were followed by a period of financial instability within Major League Baseball, which included threats of team contraction around 2001 involving the Twins and the Montreal Expos. This plan, however, was eventually abandoned.

Despite having made the postseason 10 times in the last 25 years, the Twins have struggled to advance beyond the division series since 2002. The most recent season ended in disappointment with an 82-80 record and a collapse in September that eliminated the team from playoff contention. “Our family has been considering this move for quite some time,” remarked Jim Pohlad, current leader of the ownership group.

The announcement comes amidst broader financial uncertainties in sports due to the decline of regional sports networks, which have been pivotal in funding the industry. This financial backdrop, coupled with changes in the Twins’ management strategy, influenced the Pohlad family’s decision to possibly exit the business.

Recent MLB team sales further highlight the Twins’ potential sale value. Earlier this year, David Rubenstein purchased the , with the deal valued at $1.725 billion. Steve Cohen set a major precedent in 2020 with his $2.4 billion purchase of the . In a similar vein, the Angels and Nationals have explored sales, which ultimately did not materialize as they were removed from the market.

As the Pohlads transition out of baseball, the question remains as to whether their management was successful or contentious—both perspectives have supporting evidence. “It’s a nuanced legacy,” commented sports analyst La Velle E. Neal III, “with both significant achievements and controversies.”