The Minnesota Twins have been more active on the ownership front than making baseball transactions this offseason. The Pohlad family announced that they were looking to sell the team at the end of the 2024 season and news broke that a new ownership agreement may be completed before Opening Day.
If the team is sold, one of the fears is the possibility of relocation, but the Twins are taking one step to show they're not going anywhere, even after their current lease at Target Field expires in 2039.
According to Christopher Magan of the Minnesota Star Tribune, the Twins are in the process of extending their lease at Target Field. Magan reports that the Minnesota Ballpark Authority and the Twins created “principles of agreement” that will extend the ’ lease on Target Field to 2059 and the key point is a sales tax to fund ballpark maintenance.
While both sides have agreed to these principles, the sales tax proposal must go before the Minnesota State Legislature to be approved.
The proposal, which includes funding for both the Hennepin County Medical Center (HCMC) and the North Memorial Hospital, allows for over $10 million dollars to be used for Target Field upkeep. The Minnesota Ballpark Authority would receive an annual amount of $9 million dollars for a capital fund reserved for Target Field maintenance and $4.5 million of the fund will be contributed by the Twins as part of their rent.
In addition, an additional $9 million over the course of three years will go into a second capital fund to maintain the infrastructure around Target Field until 2027. Starting in 2028, that fund receives $1.25 million each year.
A similar proposal regarding a sales tax failed to move forward in the legislature last year but given the recent news of new Twins ownership, there might be more momentum for this agreement to pass and keep the team even as it enters a time of transition as soon as next Opening Day.