UPDATE: The Minnesota Twins are no longer for sale, Executive Chair Joe Pohlad confirmed on Wednesday, marking a significant shift in the team’s ownership strategy. After a thorough ten-month review of potential sales, the Pohlad family will retain principal ownership while inviting new investment partners to reinvigorate the franchise.
“This franchise has become part of our family story… for our employees, our players, this community, and Twins fans everywhere,” Joe Pohlad stated during the announcement. The family, who purchased the team in 1984 for $44 million, is now focused on adding two “significant” limited partnership groups. Details about these investors will remain confidential until receiving approval from Major League Baseball.
The decision comes at a time when the Twins are facing challenges, including projected attendance figures that may hit their lowest in 16 years at Target Field. Frustration is palpable among fans, especially following a recent roster overhaul that saw the team trade 10 players before the July 31 deadline, further shaking the confidence of a loyal fanbase eager for a World Series title since 1991.
“We see and hear the passion from our partners, the community, and Twins fans. That passion inspires us,” Pohlad remarked, emphasizing the commitment to developing a winning culture that resonates with the region’s baseball enthusiasts. The family aims to leverage new investments to bolster critical partnerships and shape the franchise’s long-term vision.
As the Twins navigate this transition, the focus remains on what is best for the franchise’s future. The announcement is particularly significant for Minnesota baseball fans, who have been watching the team’s performance closely with hopes of reviving its competitive edge in the league.
Stay tuned for further updates as the Pohlad family finalizes details surrounding the new investors and their plans for the franchise. The Twins’ commitment to enhancing their operations signals a new chapter for the team and its supporters.