Reporting credit: The Athletic
After nearly a year of exploring a full sale, the Pohlad family — owners of the Minnesota Twins since 1984 — have decided they’re staying put. Instead of handing over the keys to a new ownership group, the family has brought in two minority investors who, sources say, have purchased more than 20% of the franchise.
The about-face surprised at least one group of prospective buyers, who had been working to secure financing for a reported $1.7 billion asking price. According to The Athletic, talks with that group were active as recently as the morning of the Pohlads’ announcement.
Financial Boost Without Losing Control
While the identities of the new minority partners have not been disclosed, both will join the Twins’ board of directors. One group is based in Minnesota, the other on the East Coast. Neither will have a path to majority control — the Pohlads will remain firmly in charge.
The new investment will be used primarily to reduce the team’s debt, estimated at more than $425 million. That debt load is among the highest relative to revenue in Major League Baseball and has been viewed as a stumbling block in sale discussions.
Twins executive chair Joe Pohlad called the partnership “the best opportunity for our family,” adding:
“We’ve owned this franchise for 40 years. It’s a really difficult thing to part with. We feel we’re the right people to lead this organization.”
Sources told The Athletic the deal valued the minority stake at a higher rate than the $1.7 billion franchise valuation reported by Sportico.
A Turbulent 10 Months
The decision ends a sale process that began last October and unfolded against a backdrop of on-field struggles, fan frustration, and a midseason roster sell-off.
The Twins are on track to miss the playoffs for the fourth time in five seasons. Ticket sales are projected to hit their lowest mark since the opening of Target Field in 2010, with an estimated 1.8 million fans attending this year.
Last month’s trade deadline saw 10 players dealt, including star shortstop Carlos Correa (with Minnesota paying $33 million of his remaining contract), closer Jhoan Duran, and fan favorite Louis Varland. The moves — described by management as necessary for long-term health — were widely perceived as a payroll dump, deepening fan discontent.
Fan Sentiment & Market Challenges
Since the payroll was cut by $30 million ahead of the 2024 season, “Sell the team” chants and public protests have been common at Target Field. Many fans hoped a new owner would bring deeper investment in winning.
Despite two World Series championships in 1987 and 1991, the franchise’s more recent history has been defined by budget constraints, playoff droughts, and questions about long-term competitiveness.
What’s Next
With the sale now off the table, the focus shifts to whether the new capital can stabilize operations and rebuild trust with the fan base. The Pohlads are entering their third generation of ownership, with Joe Pohlad overseeing daily operations and Jim Pohlad remaining control owner for MLB purposes.
“Ultimately, fans want to see winning teams,” Joe Pohlad said. “We’re committed to doing everything we can to make Target Field an exciting place to come during the summer.”
For now, the Minnesota Twins’ ownership story is one of continuity — but also of renewed pressure to prove that staying the course can deliver both financial stability and competitive results.
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