Timeline: A look at the Pohlad family’s ownership of the Twins

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.

Here’s a look at the family ownership history.

Carl Pohlad officially became the second owner in team history, buying the franchise from Calvin Griffith. The Griffith family had owned the franchise since 1919, when it was the Washington Senators.

Pohlad, who built his fortune in banking, paid $44 million — around $137 million in today’s dollars when adjusted for inflation.

After winning 85 games in the regular season, the Twins topped the Detroit Tigers in five games in the American League Championship Series and won a World Series title in seven games over the St. Louis Cardinals.

“It’s the greatest thing I’ve ever seen in my life,” Pohlad said after the World Series victory parade.

At the time, Pohlad was part of a group that had purchased 46% of the Vikings for $25 million. That share was sold in 1991 for $52 million.

There was immediate speculation about whether Pohlad would consider selling the team after winning the World Series because he sought a buyer for a 40% share in the club.

“I’m not looking to make a barrel of money, or make 8-10 percent return,” he said. “I would just like to break even. No, I haven’t thought about [selling]. ... But people have to understand, we’re in a small market and we have a cap even on what I’m willing to contribute to this community to keep baseball here.”

Three years after Pohlad announced his intentions to seek a new ballpark to replace the Metrodome, he threatened to sell the club to Don Beaver, a North Carolina investor who wanted to move the team to Greensboro or Charlotte.

“I’ve done everything I can to keep baseball here,” Pohlad said. “Nobody seems to care whether the Twins stay or not.”

The potential deal fell apart when North Carolina voters rejected a stadium referendum in May 1998. Another attempt to sell the team to a group led by Timberwolves owner Glen Taylor and Wild managing partner Robert Naegele Jr. in 1999 was stopped when St. Paul voters rejected a sales tax increase to fund a new stadium.

Hennepin County District Judge Harry Crump issued an injunction because of a lease agreement at the Metrodome and the team’s importance to the community. Crump said it would cause “irreparable harm” if the lease were not fulfilled.

The Expos moved to Washington, D.C., in 2005.

Pohlad obtained government funding for a new open-air stadium, Target Field, which opened in 2010.

“A new stadium will mean a better place to play, and a chance to put some better players on the field with the additional revenue,” Pohlad said.

Pohlad died at 93. One of his sons, Jim, was already the Twins’ CEO and took over as the controlling owner.

But the Twins lost 18 consecutive playoff games, a record for major sports franchises, before finally winning a wild-card series in 2023.

Joe Pohlad took over as executive chair of the Twins. Joe’s father, Bob Pohlad, was one of three sons of Carl Pohlad, along with Jim and Bill.

After 40 years, the Pohlad family decided to seek a buyer for the Twins.

“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,” Joe Pohlad said.

Billionaire Justin Ishbia, reportedly a leading contender to buy the Twins, decided instead to increase his minority interest in the Chicago White Sox.

At the All-Star Game, Manfred gave an update on the Twins sale.

“I can tell you with a lot of confidence that there will be a transaction there, and it will be consistent with the kind of pricing that has taken place” in other franchise sales, he said, an apparent nod to Tampa Bay’s sale of $1.7 billion.

“I know some things you don’t know” about progress towards a Twins sale, Manfred said at a morning question-and-answer session with members of the Baseball Writers Association of America. “There will be a transaction there.”

Joe Pohlad announced his family will retain controlling interest in the team.