3 days ago
Minnesota Twins' billionaire owners make shock decision on future of the franchise
After a fire sale of a trade deadline that saw the team give up almost all of its top players, seen by many as a clear indication that a sale was inevitable, the Pohlad family has decided to keep their majority stake in the Minnesota Twins.
Last October, it was reported that the family had hired the investment bank Allen & Company to explore a possible sale after four decades of ownership.
But now, in a stunning move, the family has reversed course - choosing instead to take on two minority partners.
'For more than four decades, our family has had the privilege of owning the Minnesota Twins. This franchise has become part of our family story, as it has for our employees, our players, this community, and Twins fans everywhere,' a statement from the family read.
'Over the past several months, we explored a wide range of potential investment and ownership opportunities. Our focus throughout has been on what's best for the long-term future of the Twins. We have been fully open to all possibilities.
'After a detailed and robust process, our family will remain the principal owner of the Minnesota Twins.
'To strengthen the club in a rapidly evolving sports landscape - one that demands strong partnerships, fresh ideas, and long-term vision - we are in the process of adding two significant limited partnership groups, each of whom will bring a wealth of experience and share our family values.
'We see and hear the passion from our partners, the community, and Twins fans. That passion inspires us. This ownership group is committed to building a winning team and culture for this region, one that Twins fans are proud to cheer for.'
The Twins have not won a playoff series since 2002 and have not won a World Series since 1991.
