UPDATE: The Minnesota Twins will NO LONGER be for sale, as executive chair Joe Pohlad confirmed on Wednesday, marking a significant shift in the franchise’s ownership plans. Following a 10-month exploration of various options, the Pohlad family has decided to retain principal ownership while inviting new investors to join the club.
For over four decades, the Pohlad family has owned the Twins, a franchise purchased by Carl Pohlad in 1984 for $44 million. In a statement, Joe Pohlad emphasized the family’s commitment to the team and its community: “This franchise has become part of our family story… Our focus… has been on what’s best for the long-term future of the Twins.”
The Twins are set to add two “significant” limited partnership groups aimed at infusing fresh ideas and enhancing critical partnerships. Details regarding these new investors will remain confidential until they receive approval from Major League Baseball.
This announcement comes as the Twins face a challenging season, with projections indicating they are on track for their lowest attendance in 16 seasons at Target Field. The dissatisfaction among fans has been exacerbated by a mandated payroll reduction last year and the recent trade of 10 players before the July 31 trade deadline.
Joe Pohlad acknowledged the frustrations of Twins fans, who have been yearning for another World Series title since 1991. He stated, “We see and hear the passion from our partners, the community, and Twins fans. That passion inspires us.” The ownership group remains committed to building a winning team and culture that resonates with the passionate Minnesota baseball community.
As developments unfold regarding the new investors, fans and stakeholders will be closely watching how this change in strategy will impact the franchise’s future. The Pohlads’ decision to stay in control aims to reinvigorate the team’s prospects and restore faith among a loyal fanbase eagerly awaiting success.
Stay tuned for further updates on this developing story as the Minnesota Twins look to reshape their future while reaffirming their place in the hearts of baseball fans in Minnesota and beyond.
