If the Pohlad's sold the Twins

[ThePuck]

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.

[IdahoPilgrim]

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...

[PseudoSABR]

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

I think it's pretty obvious, actually.

[IdahoPilgrim]

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.

[Twins Twerp]

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?

[ThePuck]

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.

[ThePuck]

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.

[whydidnt]

According to an article in the Strib about the Vikings Stadium its: 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-- 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.

[ThePuck]

According to an article in the Strib about the Vikings Stadium its: 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-- 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

[Highabove]

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.

[ThePuck]

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.

[jokin]

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.

[Highabove]

I believe the Franchise is locked in for 30 years.

The values are based on the Franchise playing at Target Field.

[ThePuck]

I believe the Franchise is locked in for 30 years.

The values are based on the Franchise playing at Target Field.

 

excellent. thanks

[ThePuck]

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.

[ThePuck]

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

[jokin]

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

[whydidnt]

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.

[Craig Arko]

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

[darin617]

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?

[darin617]

The Pohlad boys make a profit whenever they sell it. They never paid a dime for it so I don't think they would care about paying back the state a high percentage.

But,my thought is that they will not sell the team anytime soon as long as they keep raking in over $100M+ in profits every year. That is just simple why make let's say $600M right now by selling the team when they can make the same $600M in 4 or 5 years and still keep ownership.

Why sell the goose that lays the golden eggs?

[IdahoPilgrim]

Have you stayed at a Holiday Inn lately?

 

Holiday Inn EXPRESS!

[drjim]

The Pohlad boys make a profit whenever they sell it. They never paid a dime for it so I don't think they would care about paying back the state a high percentage.

But,my thought is that they will not sell the team anytime soon as long as they keep raking in over $100M+ in profits every year. That is just simple why make let's say $600M right now by selling the team when they can make the same $600M in 4 or 5 years and still keep ownership.

Why sell the goose that lays the golden eggs?

 

While certainly possible, $100M+ seems a little high. If that was truly the case, teams would sell for even more than they currently are.

[drjim]

I imagine in general the Pohlads are pretty middle of the road when it comes to owners. They are conservative and prefer a profit, but there are plenty that are much worse. And surely plenty that are much better.

[IdahoPilgrim]

I imagine in general the Pohlads are pretty middle of the road when it comes to owners. They are conservative and prefer a profit, but there are plenty that are much worse. And surely plenty that are much better.

 

I for one appreciate that they don't make rash changes in management. Yes, sometimes the need for change comes, and that time may be here, but there are too many owners, in this country and abroad, that have such unrealistic expectations for success that they change management so frequently that there is never a chance to build stability, which I think is a key part of building for success.

[bird]

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.

 

Puck, I seem to recall that you were the author of a vicious anti-Pohlad rant not so long ago.

[spideyo]

Wait, you didn't win the powerball jackpot did you?

 

Seriously though, pretty sure there is no way in hell the Pohlads will sell anytime soon. Even though the team isn't performing great, they are still drawing pretty good crowds and turning a decent profit. They own the radio station that is the flagship of the twins radio network, they just dumped a ton of money in renovating the ford center right next to target field, and they play host to the All-Star game next year.

 

They have absolutely zero reasons to sell, and every reason to hang on to the team

[IdahoPilgrim]

Wait, you didn't win the powerball jackpot did you?

 

Seriously though, pretty sure there is no way in hell the Pohlads will sell anytime soon. Even though the team isn't performing great, they are still drawing pretty good crowds and turning a decent profit. They own the radio station that is the flagship of the twins radio network, they just dumped a ton of money in renovating the ford center right next to target field, and they play host to the All-Star game next year.

 

They have absolutely zero reasons to sell, and every reason to hang on to the team

 

All true, and I remember an interview Jim Pohlad gave a few years ago where he saw himself more as a fan than an owner. Yes, it is a business and they are business people, and ultimately that will drive any decision on selling in the future, but I kinda got the impression he likes baseball and having a baseball team.

[Guest USAFChief]

Pretty good info on the details of the TF deal here:

 

Ballpark Proposal and Principles of Agreement - Ballpark Documents - Twins Ballpark 

 

There is a 30 yr "iron clad" lease in place.

 

The details about owing money back if the Pohlads were to sell the team are in this article as well. Bottom line: they would have owed 18% of proceeds where they to have sold at groundbreaking, that declines by 10% per year for ten years (as noted by others above). So they're something like 4 years from being able to sell the team free and clear.

[ThePuck]

Puck, I seem to recall that you were the author of a vicious anti-Pohlad rant not so long ago.

 

No, I wasn't...I mentioned him in regards to dropping payroll, along with Ryan, but a complaint about one thing is hardly a vicious anti-Pohlad rant. If you have something to show instead of just throwing out baseless accusations, feel free to share with the group. I remember a poster who said he knew the Pohlads and therefore defended them against every small criticism as if it was a personal attack. Was that you? Are you doing it again even though I'm not even coming close to slamming the Pohlads?

 

Like I said, someone o another site mentioned they thought the Pohlad's were gearing up to sell the team, I said I didn't think they were, nor should they....then the conversation got to what the details were about paying back money to the county if they did so I went looking for specifics. Nothing more to it.