Current:Home > MarketsMinnesota Twins to be put up for sale by Pohlad family, whose owned the franchise since 1984-InfoLens
Minnesota Twins to be put up for sale by Pohlad family, whose owned the franchise since 1984
View Date:2024-12-23 11:43:00
The Pohlad family, owner of the Minnesota Twins since 1984, announced Thursday that it has begun steps to sell the team.
"For the past 40 seasons, the Minnesota Twins have been part of our family's heart and soul," said Joe Pohlad, the team's executive chair, in a news release. "This team is woven into the fabric of our lives, and the Twins community has become an extension of our family. The staff, the players, and most importantly, you, the fans -- everyone who makes up this unbelievable organization -- is part of that. We've never taken lightly the privilege of being stewards of this franchise.
"However, after months of thoughtful consideration, our family reached a decision this summer to explore selling the Twins. As we enter the next phase of this process, the time is right to make this decision public."
Pohlad said the family intends to sell to an "ownership group who all of us can be proud of and who will take care of the Minnesota Twins."
Toward that end, the Pohlads retained investment bank Allen & Company to guide a potential sale.
All things Twins: Latest Minnesota Twins news, schedule, roster, stats, injury updates and more.
Sportico valued the franchise at $1.7 billion, or 19th among the 30 MLB teams. Earlier this year, Forbes placed the value at $1.46 billion, ranked 21st on its list.
Only three ownership groups have controlled a team longer than the Pohlad family -- the New York Yankees (1973), the Chicago White Sox (1981) and the Philadelphia Phillies (1981).
"After four decades of commitment, passion, and countless memories, we are looking toward the future with care and intention -- for our family, the Twins organization, and this community we love so much" Pohlad said.
The most recent team to change hands was the Baltimore Orioles. MLB owners approved the sale in March to a group led by private equity billionaire David Rubenstein for a reported $1.725 billion.
The late Carl Pohlad paid $44 million to buy the Twins.
Minnesota finished the 2024 season with an 82-80 record, four games out of a wild-card spot following a late-season swoon.
veryGood! (3)
Related
- Voters in Oakland oust Mayor Sheng Thao just 2 years into her term
- Jessica and Ashlee Simpson Reunite With Parents Tina and Joe for Rare Family Photo
- 'Shazam! Fury of the Gods' is a near myth
- Summer Pardi Gives Birth, Welcomes First Baby With Jon Pardi
- How to Build Your Target Fall Capsule Wardrobe: Budget-Friendly Must-Haves for Effortless Style
- Jeremy Renner attends the premiere of new series just months after snowplow accident
- Writer Rachel Pollack, who reimagined the practice of tarot, dies at 77
- Constance Wu Is Pregnant, Expecting Baby No. 2
- Halle Berry surprises crowd in iconic 2002 Elie Saab gown from her historic Oscar win
- Patrick and Brittany Mahomes' Daughter Sterling Gets a Chanel Purse for Her 2nd Birthday
Ranking
- November 2024 full moon this week is a super moon and the beaver moon
- Excerpts from the works of the 2023 Whiting Award winners
- UNLV Football Player Ryan Keeler Dead at 20
- The prosecutor drops charges against 'Rick and Morty' co-creator Justin Roiland
- As CFP rankings punish SEC teams, do we smell bias against this proud and mighty league?
- Why Ana de Armas Believes Social Media Ruined the “Concept of a Movie Star
- Mama June Shannon Marries Justin Shroud in Second Ceremony One Year After Courthouse Wedding
- See Coco Austin and Ice-T’s Daughter Chanel All Grown Up on the Red Carpet
Recommendation
-
The View's Sara Haines Walks Off After Whoopi Goldberg's NSFW Confession
-
Why Pregnancy Has Keke Palmer Feeling Like Superwoman
-
Beatbox champion Kaila Mullady on the secret of boots and cats
-
Seymour Stein, the record executive who signed Madonna, is dead at 80
-
College Football Fix podcast addresses curious CFP rankings and previews Week 12
-
Rebel Wilson and Ramona Agruma Are Engaged
-
'Benjamin Banneker and Us' traces generations of descendants of the mathematician
-
An ode to March Madness, where you can always expect the unexpected