Pohlad family will significantly reduce Twins' debt with addition of minority investors
The Pohlad family is expected to announce this week that they've finalized a sale of more than 20 percent of the Minnesota Twins franchise at a $1.75 billion valuation, according to The Athletic's Dan Hayes. The transaction will help the franchise reduce its $500 million in debt, which may lead to a sale of the team in the future, Hayes wrote. Three new seats will be added to the club's ownership advisory board.
Tom Pohlad, executive chair Joe Pohlad's older brother, is expected to take on a bigger role with the team as well.
Originally, the Pohalds announced in August that they were adding two minority investor groups. The addition of the investors was delayed due to interest from other groups, which is why there are now three groups that will join Twins ownership, per Hayes.
The Pohlad family announced they were seeking to sell the team in October 2024. It appeared Justin Ishbia was going to buy the club last offseason before he stopped his pursuit to enter a long-term agreement with the Chicago White Sox, which was disappointing for Twins fans, but they at least had hopes that a sale of the team would occur soon.
Back in 2023, the Twins won their first postseason series in 21 years, yet they lowered payroll for the following two seasons. Because of that, many Minnesota fans want a sale of the team.
Hopefully, the Pohald family will find a group to buy the Twins in the near future
Hayes' recent report is great news for Twins fans who want a new ownership group. Since the Twins will significantly reduce their debt, they will be better positioned to find a buyer for the team in the future.
For now, the Twins will still be operating on a budget, as displayed by their recent signing of first baseman Josh Bell, who can be solid but isn't super expensive. Hopefully, the Pohlad family can find someone to buy the Twins sometime in the next couple of years, and the team can make bigger splashes in free agency.