MLB Rumors: Minnesota Twins Franchise Up For Sale
Executive chair Joe Pohlad confirmed that the family made this decision after months of careful consideration, stating, "For the past 40 seasons, the Minnesota Twins have been part of our family’s heart and soul. However, after thoughtful deliberation, we have decided to explore selling the Twins."
The family has retained investment bank Allen & Company to oversee the process, with Sportico valuing the team at $1.7 billion.
The Pohlads originally purchased the team from Calvin Griffith in 1984 for $44 million, overseeing a tenure that included two World Series titles in 1987 and 1991.
The Pohlad family’s statement on today’s news: pic.twitter.com/bHyTEAkLsL
— Minnesota Twins (@Twins) October 10, 2024
While the Twins saw significant early success under the Pohlad family, recent challenges have strained the organization. After a strong 2023 season in which the team broke an 18-game postseason losing streak, Minnesota struggled in 2024, finishing with an 82-80 record and missing the playoffs.
The team also faced a $30 million payroll reduction and declining local television revenue due to Bally Sports' bankruptcy, further frustrating fans who have long voiced concerns about the organization’s conservative spending.
Minnesota Twins fans right now. #MNTwins pic.twitter.com/jB38AHsSZ2
— James MozΞy (@DistantLaugh) October 10, 2024
As the sale process begins, the Pohlads emphasized their commitment to finding a buyer who will continue to uphold the team’s ties to the Minnesota community.
"This team is woven into the fabric of our lives," Joe Pohlad said, "and the Twins community has become an extension of our family."
Photo Credit: Kim Klement Neitzel-Imagn Images
Post a Comment