Pohlads’ decision to keep Twins surprises Baldelli, disappoints fans

The Pohlad family will retain ownership of the Minnesota Twins, the team said Wednesday, 10 months after announcing their intention to sell the franchise.

“Our family will remain the principal owner of the Minnesota Twins,” Twins Chair Joe Pohlad announced Wednesday in a statement issued by the team.

While retaining majority control of the organization, Pohlad said the family will be taking on two new groups of partners.

“I don’t think we could have imagined a better outcome than where we landed,” Pohlad said in an exclusive interview with the Minnesota Star Tribune. “We found two great partners and have already developed some pretty solid relationships with them. There is alignment on how we see the Twins moving forward, and also in our belief in the future of baseball in Minnesota. So I feel happy that this [sale process] has come to an end, and thrilled with the partners we have brought on.”

Carl Pohlad, who died in 2009, purchased the Twins in 1984 for $44 million from Calvin Griffith. His grandson, Joe, is now the team’s executive chair.

- Phil Miller

Twins manager Rocco Baldelli was initially surprised when he learned the Pohlads were keeping the team.

“I would also say most of my energy is going to be spent on the field always, focusing on the games at hand, focusing on winning, focusing on bringing a championship back to our cities. That’s what I spend my time thinking about. I don’t get too involved in the big picture.”

- Phil Miller

Center fielder Byron Buxton is the Twins’ longest-tenured player, having made his major league debut in 2015.

He’s also the team’s highest-paid player, with three more seasons remaining on a seven-year, $100 million deal.

Before the Twins played the Yankees on Wednesday in New York, Buxton said he and his teammates hadn’t thought much about the pending sale of the team.

Now that ownership hasn’t changed, Buxton still has confidence the Twins can be a winner.

“This was kind of something that had to be figured out on the business side to kind of move things forward,” he said, “and I think the people that’s coming over to help out is just giving them a little bit more time … to figure out how to get things better.”

- Phil Miller

By bringing in minority partners, the Pohlad family can tap into the Twins “hidden profits” without losing control of the team, according to a sports economist.

The Pohlads said Wednesday that while they didn’t unload the Twins outright as planned, they sold minority shares to two unnamed investor groups, one in the Twin Cities and one on the East Coast. The size of the minority stakes wasn’t disclosed.

The Pohlads purchased the Twins for $44 million, or around $137 million in today’s dollars when adjusted for inflation. The Twins have an estimated value of $1.5 billion to $1.7 billion.

Smaller, family-owned teams like the Twins can be “asset-rich and cash-poor,” Matheson said. The stock sale “allows the Pohlads to really capitalize on this asset. It allows them to cash out part of the value of the asset without relinquishing control.”

Minority owners often have some say in a sports team’s direction, even if they lack full control, Matheson said.

“We don’t have any sense if the new owners are [thinking] ‘damn the torpedo’s full speed ahead, let’s spend what we need to win the central division next year,’” he said. “We don’t know if we have sports fans or accountants with these minority shareholders.”

- Mike Hughlett

The business news TV network’s ranking put the Twins at No. 22 among the MLB’s 30 professional ballclubs. However, the team notched much higher in another category: debt.

The analysis pegged the Twins’ estimated debt-to-value ratio at 24%, which translates to about $396 million.

The Miami Marlins, Washington Nationals and Texas Rangers outperformed the Twins on total debt load. The L.A. Dodgers and Chicago Cubs, valued at $5.8 billion and $4.45 billion respectively, each carried 10% debt-to-value ratios that totaled higher than the Twins’ debt in dollars and cents, the analysis showed.

Twins Chair Joe Pohlad said Wednesday the team’s debt did not hinder the monthslong selling process “as far as I’m aware.”

- Bill Lukitsch

The money from TV ads is far more important than ticket sales, making media deals “paramount” as the viewing landscape continues to change with streaming, television and subscription packages.

Major League Baseball’s perfect world would be a model like professional football’s, Haupert said, where TV revenue is controlled by baseball and media rights are evenly distributed among the teams.

But that would be a “very difficult” undertaking when already there are big players, like the L.A. Dodgers, which stand to gain from a vast disparity in the market.

“You’d have to convince the Los Angeles Dodgers to give up a few billion dollars that they’ve already got contracted for TV revenue.” Haupert said. “And what would they get in return?”

He added: “A market like Minneapolis can never compete with Los Angeles, because they just don’t have anywhere near the number of people who are going to shell out for that television package.”

Being a minority owner of a professional baseball team is generally reserved for a select few with deep pockets.

One natural possibility: Glen Taylor, owner of the Minnesota Star Tribune and former owner of the Timberwolves and Lynx.

Taylor said Wednesday through a spokesperson that neither he nor any of his entities is involved as a minority stakeholder in the Twins.

The Pohlads on Wednesday did not reveal the identities of the new minority stakeholders beyond saying they are investor groups, one made up of Minnesotans and the other an East Coast family.

- Bill Lukitsch

“I just want the Twins to win, that’s really it. Regardless of who owns it, bring us a winning team,” Bergman said at the stadium gates. As he spoke, wind flapped two flags commemorating the Twins 1987 and 1991 championship wins. “Minnesota needs it.”

Mahad Ahmed, 23, of Shoreview, said he feels the Pohlad family has “let their fans down.”

A devoted supporter of the team since he was 14, Ahmed said he’s grown frustrated watching the franchise “go downhill” in recent years. When he attends games, he usually buys the cheapest seats, knowing there will be plenty of empty spots closer to the field that he can move into.

“Then they decided to get rid of all of our players,” he said, referring to recent trades and roster changes that, in his view, have stripped the team of its talent.

Alexis Herman, 22, from Plymouth, said she was surprised to see that the Pohlad family was holding on to the team.

“I hope that whatever they do, it works out best for the team,” she said. “We are just in the rebuilding era.”

Herman said she will discuss the news with her family when she goes home tonight, especially with her brothers.

“I’m sure I’ll hear more about it later,” she said.

- Kyeland Jackson and Emmy Martin

The Pohlad family’s 40-year ownership of the Twins appeared set to end this year, until Executive Chair Joe Pohlad said Wednesday the team was no longer for sale.

- Bobby Nightengale

A Major League Baseball official said on Wednesday that final approval of the Twins ownership restructuring is expected to take place following the end of the season.

Now that the Twins have identified two limited partners to bring in, the league will review their assets and debts, complete background checks and make sure no red flags pop up that could scuttle the deal.

At the worst, the deal is expected to be wrapped up before the end of the calendar year, which would give the Pohlads time to impact offseason roster building. Their moves will be scrutinized by a skeptical fan base.

The team that patriarch Carl Pohlad purchased in 1984 is now expected to remain under family majority control, unless something comes up during the final process. And the limited partners are expected to be revealed in the coming weeks.

Minnesota Ballpark Authority Executive Director Dan Kenney said the authority has no role to play in the deal announced Wednesday by the Pohlad family, which would see the longtime Twins owners keeping the team while adding two groups of partners as minority investors.

“We will not be taking part in the deal,” he said. “We’re in year 16 of a 30-year lease and use agreement, so it’s status quo for us.”

Kenney added he doesn’t know who the minority investors are. The Minnesota Ballpark Authority is the public entity created to manage the Minneapolis stadium.

- Matt McKinney

It’s not clear if either Twins President Derek Falvey or manager Rocco Baldelli — or both — would have survived a regime change.

Baldelli received a contract extension through 2026 earlier this year, and he could get to see it through. Falvey has enormous respect for Baldelli, to the point that it would be hard to see one move on without the other.

So the chances of them returning improve with the Pohlads retaining majority control. But this will be the fourth time in the last five seasons the Twins have missed out on the playoffs while playing in a division that’s not that strong. Eventually, leaders have to be held accountable for standards not met.

But many employees over at 1 Twins Way — many whom have been with the organization for decades — are breathing easier today because there’s no longer a threat of a major housecleaning.

- La Velle E. Neal III

Star Tribune Twins staff writers Phil Miller and Michael Rand discussed the news on an emergency Daily Delivery podcast.

Many fans were unhappy with the news that the Pohlads would not be selling the team.

“Most people I talk to, they were interested in seeing a new ownership group. So I’m sure there’s going to be a lot of disappointed people out there,” Josh Lemaniak, 35, said Wednesday. “It’s what you get with any transaction, there’s people on both sides.”

Nick Mazzocco’s phone “blew up” with negative reactions to the news. Mazzocco has been a Twins fan for 45 years, but he believes the decision will hurt ticket sales.

“It’s disappointing, I was looking for a change,” Mazzocco, 48, said. “I think they’ve been struggling to get interest in this team, or at least try to invest consistently in it, and I think everybody was ready for a change. I haven’t heard one person that’s glad that they’re not selling.”

- Kyeland Jackson

Minnesota sold 3.2 million tickets and averaged 37,798 fans per game in 2010 — numbers that ranked sixth in Major League Baseball.

Attendance has dropped 43% since then, with this season culminating in one of the worst in Target Field history.

The Twins are on pace to sell 1.8 million tickets this year, down from 1.95 million last year. After averaging 24,094 fans per game last season, the Twins are averaging 22,298.

- Ryan Kostecka and La Velle E. Neal III

The Pohlad family’s decision to not sell the Twins after all comes after a rocky stretch for the team. Joe Pohlad said he knows the ownership’s commitment “to build a winning team and culture for this region, one that Twins fans are proud to cheer for” is likely to be met with widespread skepticism.

Still, Pohlad refrained from committing to a rise in payroll next year. He said those discussions would play out after the current season with team president Derek Falvey and general manager Jeremy Zoll. But he added that the team would “have a new process by then with our new limited partners involved.”

- Phil Miller

Now that the Pohlads have declared that they will remain primary owners of the Twins, there’s only one move that can save the family’s reputation.

They need to allow the front office to make the kind of franchise-altering free-agent signing the Pohlads have been loath to approve in the past.

For all of the consternation about the Twins’ sell-off at the trade deadline, this is still a franchise with talent, a strong farm system and a quality stadium.

But to contend in 2026, which the Twins will need to do to bring fans back to Target Field, the front office will have to completely rebuild the bullpen and find a star-caliber hitter or two to bolster the middle of the batting order, taking pressure off young players like Luke Keaschall and Royce Lewis.

The Twins have collapsed in two consecutive seasons because, at the current payroll levels, they have had to rely on young players who were not up to the task.

The Twins have only two expensive players signed to long-term deals on the roster — Byron Buxton and Pablo López. This should be an ideal time for the Pohlads to cut the front office loose on the free-agent market.

If the Pohlads won’t do that, then they will be seeing empty seats, and hearing the noise of one hand clapping, for years to come at Target Field.

- Jim Souhan

At least that’s what the sentiment on social media and sports talk shows in town has been. Indications were the team was on track to be sold.

Even MLB Commissioner Rob Manfred, during the All-Star break, felt confident that a transaction would be made.

So something went haywire.

After Baltimore sold last season for $1.7 billion and the Rays are in the process of being sold for the same amount, it seemed more likely that the Twins would be sold too. But, remember, the Nationals and Angels went on the market in recent years, only for both to be pulled off after several months. So these things happen.

That’s probably not going to placate Twins Territory.

The Twins shed $26 million from their 2025 payroll through their trade deadline moves, and unloaded $70 million from Carlos Correa’s contract.

Their payroll now sits around $130 million, which is where it was last year, and they have only two players with long-term contracts on their books: All-Star centerfielder Byron Buxton and starting pitcher Pablo López.

Pohlad declined to say how the end of the sale process will affect the 2026 payroll, telling the Star Tribune’s Phil Miller that those discussions will take place in October.

“We’ll have a new process by then with our new limited partners involved,” he added.

The Twins will enter the offseason with a lower payroll — it’s difficult to forecast a precise payroll projection because more than a half-dozen players are in line for raises through salary arbitration — and trade speculation is certain to hover over starters López and Joe Ryan.

- Bobby Nightengale

In an exclusive interview with the Minnesota Star Tribune, Twins Chair Joe Pohlad said the decision by Derek Falvey and Jeremy Zoll to trade away 10 players at the July 31 deadline took him by surprise because “we didn’t know we were going to go in that direction until that week.”

He called each player to thank them for their contributions, making it “probably the hardest week in my career, outside of the announcement” that the team was for sale, Pohlad said. “I can pretty confidently say the same for Derek.”

The trades had little to do with saving money, he said, and were not ordered by ownership.

“Those were truly primarily baseball decisions,” Pohlad said. “It certainly set us up for more [financial] flexibility, but they were primarily baseball decisions.”

Immediate reaction is coming in on X and other social media to the Pohlad family taking down the For Sale sign.

Hockey mom Monika Melsha posted, “Wow. That’s a dagger. Sorry @Twins fans. All you can do is voice your opinion of this decision when they come asking for season ticket sales and single game ticket sales. The @MLB players deserve better."

In far fewer words, MN Up North Lake Guy, who turned to X for community engagement in the early days of the pandemic, floated, “Boycott?”

Said senior Mpls.St.Paul Magazine writer Steve Marsh: “Jeez.”

- Paul Walsh and Abby Simons