Pohlad family looks to put Twins franchise on market
Joe Pohlad speaks during the unveiling of the Twins' new uniforms and marks at Mall of America on Nov. 18, 2022. (KSTP-TV)
The Pohlad family have publicly announced they are trying to sell the Minnesota Twins after 40 years of owning the franchise.
According to an announcement on Thursday, the family decided this past summer it would begin exploring a sale and chose now to make their decision public as “the next phase of this process.”
“We truly respect and cherish what the Twins mean to Minneapolis, St. Paul, the great state of Minnesota, and this entire region,” Twins Executive Chair Joe Pohlad said in a statement. “Our goal is to be as informative as possible with the team, staff, and you, the fans. You deserve that, because in so many ways, this team doesn’t belong to any one family – it belongs to all of you. It’s our objective to find an ownership group who all of us can be proud of and who will take care of the Minnesota Twins.”
The announcement comes after a disappointing 2024 season for the Twins, fueled in part by the front office’s decision not to add to payroll following the team’s deepest postseason run in over 20 years. No significant moves were made at the trade deadline, either, and a collapse down the homestretch knocked Minnesota out of playoff contention.
A brief history of the Pohlad era
Carl Pohlad, who made his fortune in the banking industry, purchased the Minnesota Twins from Calvin Griffith for $43.5 million in 1984 — $81.3 million in today’s dollars — and quickly saw the team win two championships in 1987 and 1991. Despite nine division titles and another wild card appearance since then, the team has yet to return to the World Series.
In 2001, Carl Pohlad attempted to sell the Twins to MLB owners for $150 million as part of a plan to contract the league by two teams — the Montreal Expos were the other franchise on the chopping block. However, a judge kept the team in town by ordering them to uphold their lease and play the 2002 season at the Metrodome.
After Carl Pohlad’s death in 2009, the team was passed down to his three sons, Jim, Bill and Bob. While the Pohlad family as a whole retained ownership, Jim Pohlad took up running the franchise, later passing the reins to his nephew, Joe Pohlad, in 2022.
In 2010, the Twins moved out of the Metrodome and into Target Field, the team’s open-air, baseball-only palace in Minneapolis’ North Loop. The organization is now valued at nearly $1.5 billion, according to Forbes.
This is a developing story. Stay with 5 EYEWITNESS NEWS as we work to bring you the latest updates.