Former All-Star drops eye-opening Minnesota ownership admission

Kipnis played for 10 years in the majors, nine with the Cleveland Guardians from 2011 to 2019.

Minnesota Twins ownership claims to be not profitable

In July, the Twins were mentioned as having financial limitations in a trade deadline article by ESPN’s Jeff Passan. Last November, Twins president of baseball operations Derek Falvey told the media the team would be reducing payroll due to reduced revenue coming from the club’s TV contract.

On Thursday, Twins ownership announced their decision to explore a sale.

“After months of thoughtful consideration, our family reached a decision this summer to explore selling the Twins,” Twins executive chair Joe Pohlad wrote. “As we enter the next phase of this process, the time is right to make this decision public.”

“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,” Pohlad continued. “After four decades of commitment, passion, and countless memories, we are looking toward the future with care and intention–for our family, the Twins organization, and this community we love so much.”

Major League Baseball’s most recent sale, David Rubenstein’s purchase of the Baltimore Orioles during the summer, netted $1.725 billion. Before that, Steve Cohen bought the New York Mets for $2.4 billion in 2020.

Only the New York Yankees, Chicago White Sox and Philadelphia Phillies have been led by the same owners for longer than the Twins. The Pohlad family bought the Twins for $44 million in 1984. The organization is estimated to be worth between $1.5 and $2 billion.