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If the Pohlad's sold the Twins

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#1 ThePuck

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Posted 22 May 2013 - 01:28 PM

Does anyone have the specifics about how long before the Pohlads can sell the team and what kind of hit they take if they do as far as paying back some of what the county paid for?

I am not suggesting, hoping, wanting this to happen. I'm just looking for the specifics if anyone has it. A link perhaps.

Thanks.

#2 IdahoPilgrim

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Posted 22 May 2013 - 01:47 PM

I am not a lawyer, and I don't even play one on TV, but I would think they can sell the team anytime they want.

Any new owner, of course, would be obligated to fulfill any commitments previously made by the franchise, including but not limited to honoring their 30-year lease.

I am curious as to what prompts this line of inquiry...

#3 PseudoSABR

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Posted 22 May 2013 - 01:50 PM

I am curious as to what prompts this line of inquiry...

I think it's pretty obvious, actually.

#4 IdahoPilgrim

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Posted 22 May 2013 - 01:55 PM

I think it's pretty obvious, actually.


Great! Can you clue me in?

I was going on the assumption that this wasn't just some "anti-Pohlad" rant and that he was genuinely curious about this for some reason.

Is there some assumption that the Pohlad's want to sell? Or is there some indication that they are trying to do so? I haven't seen anything, but I'm not in the loop, so unless it's been reported here at TD... Is it the hope that they can be forced to sell? I'm not sure that's possible, legally.

Edited by IdahoPilgrim, 22 May 2013 - 01:57 PM.


#5 Twins Twerp

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Posted 22 May 2013 - 02:27 PM

Does anyone have the specifics about how long before the Pohlads can sell the team and what kind of hit they take if they do as far as paying back some of what the county paid for?

I am not suggesting, hoping, wanting this to happen. I'm just looking for the specifics if anyone has it. A link perhaps.

Thanks.


Why? You interested?

#6 ThePuck

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Posted 22 May 2013 - 02:46 PM

There are some fans on another site who think the Pohlads are getting ready to sell the team. I was saying I didn't think they could (not do I think they would). I also remember there was some language in the agreement about them not being able to sell the team without having to pay back a chunk of the money they got from the county and that for every year they kept the team the percentage they would have to pay back would lower until such a time where it would hit zero and they could sell the team without a fine.

#7 ThePuck

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Posted 22 May 2013 - 02:47 PM

Great! Can you clue me in?

I was going on the assumption that this wasn't just some "anti-Pohlad" rant and that he was genuinely curious about this for some reason.


You assume correctly. This is, in no way, a rant against the Pohlads. It's me looking for info and nothing more or sinister behind it.

#8 whydidnt

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Posted 22 May 2013 - 03:09 PM

According to an article in the Strib about the Vikings Stadium its: [FONT=Arial]In the case of Target Field, the public would get 18 percent of the overall sale price initially. But that amount drops by increments of 1.8 percent annually and reaches zero in 10 years.
Link-- [/FONT]
Stadium plan gives public less in Vikings? sale compared to Twins? | StarTribune.com

No details listed, so I don't know if we are already in year 3 or if the 10 year clock started after the stadium opened.

#9 ThePuck

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Posted 22 May 2013 - 03:11 PM

According to an article in the Strib about the Vikings Stadium its: [FONT=Arial]In the case of Target Field, the public would get 18 percent of the overall sale price initially. But that amount drops by increments of 1.8 percent annually and reaches zero in 10 years.
Link-- [/FONT]
Stadium plan gives public less in Vikings? sale compared to Twins? | StarTribune.com

No details listed, so I don't know if we are already in year 3 or if the 10 year clock started after the stadium opened.


thanks

#10 Highabove

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Posted 22 May 2013 - 03:35 PM

Estimate Value of Twins Franchise (forbes)
1984 purchase price 44 million
2008 328 million
2012 578 million
The Pohlad's will make a nice profit if they ever decide to sell.
I personally hope that they sell.
This Franchise needs a new culture.

Edited by Highabove, 22 May 2013 - 03:46 PM.


#11 ThePuck

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Posted 22 May 2013 - 03:43 PM

Estimate Value of Twins Franchise (forbes)
1984 purchase price 44 million
2008 328 million
2012 578 million
The Pohlad's will make a nice profit if they ever decide to sell.
I personally hope that they sell.
This Franchise needs a new culture.


If they sell, is there a provision in place that says the team can't be moved. I thought I heard that as well...like for 30 years or something.

#12 jokin

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Posted 22 May 2013 - 03:47 PM

If they sell, is there a provision in place that says the team can't be moved. I thought I heard that as well...like for 30 years or something.


With that provision, I'd gladly accept change of ownership to an entity with different priorities. Mark Cuban would fill the bill nicely.

#13 Highabove

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Posted 22 May 2013 - 03:47 PM

I believe the Franchise is locked in for 30 years.
The values are based on the Franchise playing at Target Field.

#14 ThePuck

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Posted 22 May 2013 - 03:48 PM

I believe the Franchise is locked in for 30 years.
The values are based on the Franchise playing at Target Field.


excellent. thanks

#15 ThePuck

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Posted 22 May 2013 - 03:49 PM

With that provision, I'd gladly accept change of ownership to an entity with different priorities. Mark Cuban would fill the bill nicely.


That would be outstanding, though the White Sox owner has a serious dislike for him and he yields serious power amongst the owners.

#16 ThePuck

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Posted 22 May 2013 - 03:50 PM

I appreciate everyone who provided info on this. Greatly appreciated.

#17 jokin

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Posted 22 May 2013 - 03:52 PM

That would be outstanding, though the White Sox owner has a serious dislike for him and he yields serious power amongst the owners.


And he's also best buddies with Selig (and was with Carl Pohlad). Cuban would have to learn from his previous acquisition blockages to find an ironclad work-around to this impediment

#18 whydidnt

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Posted 22 May 2013 - 04:12 PM

Well, we should be careful what we wish for. I'm not a huge fan of the Pohlads, but we could always end up with someone like Loria who looks at the Marlins as his own personal piggy bank. There's no guarantee any new owner will be a big enough fan to commit more of the revenue to the team.

#19 CRArko

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Posted 22 May 2013 - 04:44 PM

Perhaps Richard Branson will take an interest. Then we would become the Minnesota Virgins, of course.

#20 darin617

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Posted 22 May 2013 - 05:39 PM

I am not a lawyer, and I don't even play one on TV, but I would think they can sell the team anytime they want.

Any new owner, of course, would be obligated to fulfill any commitments previously made by the franchise, including but not limited to honoring their 30-year lease.

I am curious as to what prompts this line of inquiry...


Have you stayed at a Holiday Inn lately?