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New York Times
4 days ago
- Business
- New York Times
No sale: Pohlad family to remain Twins owners, add on limited partnership groups
After 10 months of exploring a sale, the Pohlad family announced in a statement Wednesday it would retain ownership of the Twins while adding on two minority ownership groups. Less than a month after commissioner Rob Manfred confidently stated 'there will be a transaction,' the family issued the statement saying it will continue a stewardship it began in 1984 when Carl Pohlad purchased the club for $44 million from Calvin Griffith. Advertisement '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. '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.' A letter from the Pohlad family: — Minnesota Twins (@Twins) August 13, 2025 The Pohlad family originally placed the team on the market last October, less than a year after making a controversial decision to slash payroll by $30 million in the aftermath of the team winning its first playoff series in 21 years. The Twins hired New York City-based capital market company Allen & Company to facilitate the club's sale. Estimated to be worth $1.7 billion by Sportico, the Twins initially drew strong interest from Justin Ishbia, who emerged as a potential owner in December. Ishbia was seen as the 'leader in the clubhouse' to purchase the club only to switch gears in January and increase his minority stake in the Chicago White Sox. Ishbia purchased an additional 30 percent share of the White Sox and a that club announced a plan for him to eventually take on majority ownership from Jerry Reinsdorf in five years. After Ishbia abandoned his pursuit of the Twins, sources close to the sale process suggested they would regroup and look for new suitors. Despite messages that the sale was progressing with multiple interested parties, sources suggested the Twins were having difficulty attracting potential majority owners. Though the team drew the interest of multiple limited partnership groups, nobody with the financial wherewithal to purchase a large chunk of the club had emerged. Advertisement A major issue limiting a sale was the $425 million in debt incurred by the Twins during the Pohlad stewardship — believed to be one of the higher income to debt ratios in baseball— and how much any potential owner would absorb in a potential sale. (Top photo of Joe Pohlad in April: Bailey Hillesheim/Icon Sports) Spot the pattern. Connect the terms Find the hidden link between sports terms Play today's puzzle
CBS News
22-05-2025
- Sport
- CBS News
How Minnie and Paul became the logo for the Minnesota Twins
They might be the most recognizable faces in Twins history. And every time you go to a game, you see Minnie and Paul shaking hands in centerfield. The duo has been with the team since 1961, and their origin traces back to a rivalry. For Clyde Doepner, baseball is more than just a pastime. He's the Target Field curator. When a milestone is reached, Doepner becomes the closer, doing everything he can to secure an historic bat, ball or jersey. "This is his first All-Star game jersey. This is the last jersey he ever wore in a Major League game," said Doepner while pointing out jerseys that Joe Mauer once wore. With nearly 18,000 pieces of his own Twins memorabilia, Doepner has no shortage of stories. One of his favorites is Minnie and Paul. They made their major league debut in 1961, when then-owner Calvin Griffith moved the franchise from Washington D.C. to Minnesota. "He wanted to call the team the Twin City Twins. Why? He wanted to unify St. Paul and Minneapolis knowing there had been a lot of competition," said Doepner. Griffith wanted the two cities to put their rivalry behind, and rally around the new pro team. "It was the first team ever named after a state," said Doepner. When the Minnesota Twins became the official name, Griffith asked advertising illustrator Ray Barton to help him out. "His direction from Cal was to come up with something that shows that Minneapolis and St. Paul get along," said Doepner. So, on his first and only try, he drew twins shaking hands over the Mississippi River. Griffith loved it, even if Barton didn't. But over the years Barton came around. Especially after the team put Minnie and Paul on nearly everything. "This is the original shoulder patch that Calvin Griffith picked out," said Doepner while holding Tony Oliva's 1965 All-Star and World Series jersey. Only one change was made — Barton had put "MT" for Minnesota Twins on the logo. Griffith replaced that with an "M" and an "STP." Griffith then paid Barton $15 for the logo. A bargain for a quick sketch that has made its way from old Met Stadium, to the Metrodome, and now to Target Field, where it's front and center. The Minnie and Paul sign in center field is 46 feet tall and 39 feet wide. And it may not look like it, but the entire sign weighs more than eight tons. For Doepner, it's one of the most iconic logos in sports. A handshake that's lasted for nearly 65 years. "I knew there was a need to unite the two, all of us did, and they did that by this logo," said Doepner. "It still represents, and always will by that giant sign out there, the history of the Minnesota Twins." Doepner said when the Pohlad family bought the Twins in 1984, they made it a point to keep the logo with the team.
