Pohlad family no longer selling Twins

The Pohlad family, longtime owners of the Minnesota Twins, announced Wednesday that they're no longer pursuing a sale of the team and will retain majority ownership.

In a statement, the family said that new limited partners will join the ownership group.

"Over the past several months, we explored a wide range of potential investment and ownership opportunities," the Pohlad family wrote. "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."

Chairman Joe Pohlad told Phil Miller of the Minnesota Star Tribune that one of the two new investment groups joining the ownership is Minnesota-based. He added that MLB is currently in the process of approving the new partners and their identities could be made public within the next few weeks.

The Pohlads began exploring a sale in October and reportedly set a price of at least $1.7 billion.

Billionaire Justin Ishbia appeared to be the front-runner to purchase the franchise. However, Ishbia ultimately backed out and increased his minority ownership stake in the Chicago White Sox instead.

Carl Pohlad purchased the Twins for $44 million from Calvin Griffith in 1984. Under his watch, the team won World Series championships in 1987 and '91 and moved from the multipurpose Metrodome into Target Field.

After Carl's death in 2009, his son Jim was elevated to chairman. Joe, Jim's nephew, took over day-to-day operations as the team's control person in 2022, while Jim remained as the Twins' executive chair. Carl's two other sons, Bill and Bob, are also board members.

Forbes valued the Twins at $1.5 billion this past March. However, the team is also operating with a debt of $425 million, The Athletic's Ken Rosenthal and Dan Hayes reported earlier in August.

In 2023, the Twins won their first playoff series in 21 years but missed the postseason the following year after a late-season collapse.

Minnesota was a seller at this year's trade deadline, dealing away 11 players amid a disappointing 2025 campaign. The most notable trade sent Carlos Correa, a marquee free-agent addition in the middle of a $200-million contract, back to the Houston Astros in what amounted to a salary dump.

"Those were truly primarily baseball decisions," Joe Pohlad told Miller. "It certainly set us up for more (financial) flexibility, but they were primarily baseball decisions."