Twins are not for sale: Pohlad family to seek investors for the team

The Minnesota Twins Remain Under the Ownership of the Pohlad Family

MINNEAPOLIS – The Minnesota Twins are not for sale. Joe Pohlad, chief executive officer, made the announcement on Wednesday on behalf of his family. After evaluating various options over the last ten months, the Pohlad family will continue to be the main owner of the club, but will add new investors. Carl Pohlad, banking magnate and grandfather of Joe Pohlad, acquired the Twins in 1984 for $44 million.

“For over four decades, our family has had the privilege of owning the Minnesota Twins. This franchise has become part of our family history, as it has for our employees, players, the community, and Twins fans everywhere,” stated Joe Pohlad. “In recent months, we explored a wide range of potential investment and ownership opportunities. Our focus has always been on what is best for the long-term future of the Twins. We have been completely open to all possibilities.”

Joe Pohlad

Pohlad said the family is in the process of incorporating two “significant” limited liability company groups to bring fresh ideas, strengthen key partnerships, and define the long-term vision of the franchise, which moved to Minnesota in 1961 after its origin as the Washington Senators. Details about the new investors will be kept private until MLB approves the transactions, according to Pohlad. The Twins are on pace to record their lowest attendance in 16 seasons at Target Field, and a payroll reduction ordered by ownership last year, among other factors, has contributed to fan dissatisfaction. The Twins traded 10 players from their roster before the July 31 deadline, which increased frustration. The news that the Pohlad family is staying will certainly not improve the morale of Minnesota baseball fans, who have been waiting for another World Series title since 1991.

“We see and hear the passion of our partners, the community, and Twins fans. That passion inspires us,” Pohlad said. “This ownership group is committed to building a winning team and culture for this region, which Twins fans are proud to support.”

Joe Pohlad