The family of the late Carl Pohlad announced last October its intent to explore a sale of the Twins franchise. Today, in a surprising development to most followers of the team, Joe Pohlad announced in a news release “our family will remain the principal owner of the Minnesota Twins.”
A source texted yesterday to Sports Headliners that Joe Pohlad didn’t want to sell the franchise, indicating a possible division in intent among the family. In late 2022 Joe succeeded his uncle, Jim Pohlad, as executive chair of the club.
Carl Pohlad bought the team in 1984 from the Griffith family for $44 million (worth $133.52 million in today’s dollars, per Forbes.com). It was believed last fall that the Pohlads might be asking $1.8 billion or more for the club which Forbes valued at $1.46 billion earlier this year.
Allen & Company, an investment banking firm based in New York, was hired late last year to facilitate the sale process with then longtime Twins president Dave St. Peter representing the Pohlads. St. Peter cautioned Sports Headliners even back then that a sale wasn’t a certainty.
Perhaps a family division and inability to find a buyer willing to pay at least $1.7 billion discouraged the sale. The Twins also reportedly have over $400 million in debt.
Franchise revenues, however, will be buoyed by new minority ownership.
“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,” Joe Pohlad said in the statement.
The retention of the franchise makes sense in the aftermath of the recent departure of 40 percent of the roster. Trades reportedly reduced the payroll by about $30 million.
If a new buyer were on the horizon, it’s not likely that purchaser would approve of a roster gutting that could now mean the team won’t be a playoff contention for a couple of years at best.
News of the Pohlad regime continuing won’t be received with enthusiasm by many fans. Probably typical is a one-word text from a Sports Headliners reader: “Disaster.’
As has been documented repeatedly, the public’s beef with the Pohlads is that the family has been unwilling to spend sufficient money on payroll. Joe Pohald didn’t address willingness to spend money in his statement.
Here are his remarks in today’s news release:
“For more than four decades, our family has had the privilege of owning the Minnesota Twins. This franchise has become part of our family story, as it has for our employees, our players, this community, and Twins fans everywhere.
“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.
“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.
“We see and hear the passion from our partners, the community, and Twins fans. That passion inspires us. This ownership group is committed to building a winning team and culture for this region, one that Twins fans are proud to cheer for.”
Pohlad family values =CHEAP……
I know bad owners are everywhere in pro sports but the Pohlad case truly is one for the history books. I’m old enough to remember Kirby Puckett of all people begging to be paid his worth from them when his contract came up in the early 1990s. Then you later offer up the team for contraction – something you hear now in 2025 and ask, “How can that even be real?”
Then the years and decades of showing zero interest in real winning (and let’s be honest…they did never win anything post-1991). I can recall even the little things, like the trade deadlines in the middle of a potentially great season and the Twins refusing to add to payroll and how ticked off the players were.
Then the threatening of relocating unless they had their stadium paid for. Then letting star after star leave (Hunter, Morneau, Santana, etc.) when it was time to have to pay them.
And now presently the typical cutting of payroll, then gutting of the roster at this year’s deadline like nothing MLB has really ever seen. Then finally, the last cherry on top yesterday: The family backtracking and releasing statements like everything is great, nothing to see here, we want to win just as much as you do and we know how important this team is. It’s truly not a slap in the face – rather it’s a decades-long troll-job from billionaire owners who want to run this like every business yet tell everyone it’s a fun hobby and “all we want is to win.”
Surely the family cannot be sitting there expecting next year’s ticket sales to be anything more than a few buyers, and surely you cannot expect this community to care about anything involving your team any longer. My first suggestion? Sending Joe and Jim Pohlad to PR 101 at their closest community college.