Pohlad’s Explore Sale of Minnesota Twins Before 2024 Season

After 40 years of ownership, the Pohlad family has announced today that they are exploring the team’s sale. Carl Pohlad purchased the Minnesota Twins in 1984. At the time of the purchase, the team’s value was $44 million. If a sale goes through, the family would likely net over $1 billion for the franchise.

The statement sent shockwaves throughout the Twin Cities sports community and Major League Baseball. The team has had one of the steadiest ownership situations in modern-day sports history, with Carl’s grandson Joe currently occupying the executive chair position.

Twins Announcement

Joe Pohlad said that the decision was born after months of consideration. He said in the statement, “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.” At the time of the announcement, Pohlad did not give a specific reason for the family’s decision.

Reason Behind the Announcement

Given the timing of the statement, there is strong evidence that the compelling reason for the team’s potential sale is the criticism the Twins’ front office received regarding the team’s salary reduction before the 2024 season and the eventual fallout. The Twins went from a team salary of $160 million during the 2023 season to a payroll that is currently at $130 million. Most baseball observers directly link this to the team’s crash in the last month of the season.

As the calendar turned to September, the team was in a strong playoff position. However, it hit rock bottom, going 6-18 down the stretch and finishing in fourth place in the division behind the playoff-bound Cleveland Guardians, Kansas City Royals, and Detroit Tigers. The fall from grace constituted a complete collapse of the on-field product.

Immediate Fallout

The fallout from the slide was swift and dramatic. First, four coaches, including all three hitting coaches, were fired. That was followed almost immediately by the parting of ways with the Twins’ respected general manager, Thad Levine.

There was also tension in the clubhouse the last week of the season, with Carlos Correa implying that some players had thrown in the towel. When Aaron Gleeman of The Athletic asked Joe Pohlad about the projected team salary for next season, Pohlad snapped and said, “I’m not going to get into payroll right now, but we will have a better product on the field next year.”

Followup

The team’s sale is expected to take several months and is subject to league approval. The new owner will have a stable TV contract. The team recently signed a contract with MLB TV to broadcast in the neighborhood of 150 Twins games next season with no fear of blackouts, except for national broadcasts. Viewers will not have to subscribe to a cable or satellite package. With the new agreement, the Twins will reach approximately 1.08 million to 4.40 million households.