NEWS: Pohlad Family Will Remain Principal Owners of Twins, with New Limited Partners Coming Aboard

[KirbyDome89]

13 minutes ago, TwinsDr2021 said:

IMO, Ryan and/or Lopez are gone (one for sure, and likely both). I think Ober stays and the Twins try their whole limited innings, limited days rest with the list of starters that we all hoped would turn out.

(Festa, SWR, Matthews, Abel, Bradley and the rest)

Probably means Culpepper, Jenkins, GG will be held back to begin the year to reduce cost going forward. I feel like we will become the new Tampa Bay, bring up guys later, sell off, and if they happen to get somebody super young, try to extend like Franco. 

More like the new PIttsburgh. Go nowhere, do nothing, sell everything of value. Rinse, wash, repeat. 

[South Dakota Tom]

I feel sorry for the fanbase, the players who aren't jettisoned, and the digestive system of the person who wrote the press release for the owners....

[Musk21]

2 minutes ago, dex8425 said:

I assume since they're not announcing who the limited partners are the partners want to remain anonymous and thus are going to care about making $. So, lower payrolls and make decisions based on $$, not winning. Just like the trade deadline. 

"Major League Baseball must approve the transaction and the new partners, a process that is already in the works, said Pohlad, who replaced his uncle, Jim Pohlad, as Executive Chair of the team in November 2022. The family’s new partners will be revealed within a few weeks as that process goes on, he added."

[USAFChief]

"Limited partners" don't get any say-so in how a business is run.

This changes nothing except the Pohlads won't own 100 percent of the franchise. They're still calling the shots.

Id also remind anyone trying to sell the fairytale the team isn't generating profits, the Tampa Bay Rays are in the final stages of being sold (for...wait for it...$1.7B) and they currently play in a minor league stadium with no firm long term stadium solution in place.

[Nashvilletwin]

Told you so.  I predicted this after the trade deadline.  They will wait to sell (all or control) until post the new CBA - which may institute a value enhancing salary cap. Waiting also allows them to develop a more robust tv revenue flow as well as build an exciting new roster.

The worst part about this announcement actually is that it probably means Rocco stays. Rocco at the helm will do more to hold back the success of this team than the Pohlads failing to sell to another cash conscious owner (which clearly given their lack of success selling the team was the best they were going to do).

It completely cracks me up all the dismay and sadness from many TDers that some Stevie Cohen equivalent didn’t but the team.  Lol. That was never the reality. 

[nova_twins]

I don't post much because there's too much negativity and uninformed discussion on here. I was fine with the deadline moves and don't think falvey or Rocco etc are incompetent.

This news is really bad, just objectively disastrous. The Pohlads decided to have their cake and eat it too, and the only way to thread that needle is to run low payrolls. 

Ultimately this may just be the first step in giving up control once the labor situation is resolved and buyers have more confidence. But that still yields a bad situation in the short term.

[D.C Twins]

31 minutes ago, rdehring said:

I am probably among the minority, but I can see good days ahead for the Twins.  But for guys my age those days better be soon.

I expect most are correct and this is the result of their not getting the number they wanted.  Based on what I read here several days ago the debt isn't outside debt as stated above, rather debt related to their investment in Target Field when built and ongoing enhancements to the ballpark.  Expect they also took a big hit during the pandemic.  But it sure seems that debt was the issue that muddied the waters when trying to sell.

Will be interesting to see who these two investor groups are.  Have seen mention that the Cambria family may have been interested.  Also curious if one of the groups could include several former Twins?  If so, hopefully they will be allowed to provide input into the makeup of the team. 

The FO recently set the team up for a rebuild.  Considering what was given up, hopefully most of the key players brought in will be as good as expected.  The starting rotation will be strong next spring.  And that's a great starting point.  Hopefully, the financial re-set will enable them to begin building around that strength and the Twins will be competitive....soon!

 

A rebuild was absolutely needed, but why does the same FO get a second chance to build after their first build sucked?

[AceWrigley]

1 minute ago, South Dakota Tom said:

I feel sorry for the fanbase, the players who aren't jettisoned, and the digestive system of the person who wrote the press release for the owners....

You mean like this part, "The ownership group is committed to building a winning team and culture for this region, one that Twins fans are proud to cheer for."?!!? 💩

[howeda7]

4 minutes ago, South Dakota Tom said:

I feel sorry for the fanbase, the players who aren't jettisoned, and the digestive system of the person who wrote the press release for the owners....

I'd assume AI wrote it. A free version, not one you pay for of course. 

[USAFChief]

As far as the "debt" is concerned, I'll tell you what I think: I've maintained since TF was built the Pohlads didnt put one red cent into construction costs.

They borrowed their portion from themselves (they own banks, yes?) and their banks earn interest on the Twins tax write off "debt" still unpaid from when TF was built.

There's your debt. 

[D.C Twins]

2 minutes ago, nova_twins said:

I don't post much because there's too much negativity and uninformed discussion on here. I was fine with the deadline moves and don't think falvey or Rocco etc are incompetent.

This news is really bad, just objectively disastrous. The Pohlads decided to have their cake and eat it too, and the only way to thread that needle is to run low payrolls. 

Ultimately this may just be the first step in giving up control once the labor situation is resolved and buyers have more confidence. But that still yields a bad situation in the short term.

.... or the first step in eventually selling the team to owners in another market (only thing that could rationally explain their tone deafness and overt fan alienation) 

[Richie the Rally Goat]

1 hour ago, Twins_Fan_in_NJ said:

No one believes you, Joe.

I believe that he’s happy.
 

I believe that making him happy is not what’s best for my fandom or what’s best for the Minnesota Twins and am now certain that the fire sale and complete tear down of the roster continues, followed by a decade of pathetic cellar dwelling and continued mismanagement.

There will need to be a radical shift in how the team is managed in actual roster transactions very quickly, in order for my season package to be renewed.

[CRF]

You wouldn't be able to print what I'm thinking about this news.

[howeda7]

2 minutes ago, D.C Twins said:

.... or the first step in eventually selling the team to owners in another market (only thing that could rationally explain their tone deafness and overt fan alienation) 

They can't move until at least 2040. That's not going to happen. Not to mention the A's and Rays sagas show MLB doesn't really have any place to go. They're not leaving the 15th media market.

[AceWrigley]

3 minutes ago, USAFChief said:

As far as the "debt" is concerned, I'll tell you what I think: I've maintained since TF was built the Pohlads didnt put one red cent into construction costs.

They borrowed their portion from themselves (they own banks, yes?) and their banks earn interest on the Twins tax write off "debt" still unpaid from when TF was built.

There's your debt. 

Probably spot on. Nothing better than being your own banker.

[Mike Sixel]

3 minutes ago, D.C Twins said:

.... or the first step in eventually selling the team to owners in another market (only thing that could rationally explain their tone deafness and overt fan alienation) 

The A's can't find another market. I'm not sure there is one. 

[Mike Sixel]

2 minutes ago, howeda7 said:

They can't move until at least 2040. That's not going to happen. 

All the other billionaires are ignoring the law and contracts. Sure they can. 

[howeda7]

Just now, Mike Sixel said:

The A's can't find another market. I'm not sure there is one. 

Besides Vegas, the closest thing they have is Portland or Nashville. They're not leaving MSP for those markets.

[Fire Dan Gladden]

Yeah this stinks. Considering how horribly the pr through this process has been handled, I am not going to put a lot of stock in any announcements, just wait to see what actions are being taken.

My main question:

To everyone that says you are now done with the Twins... does that mean we will not see your posts anymore? 

[howeda7]

Just now, Mike Sixel said:

All the other billionaires are ignoring the law and contracts. Sure they can. 

They would not be able to break the lease, and even if they could MLB is not leaving teams in Tampa, Miami and Sacramento but abandoning the 15th media market.

[AceWrigley]

This announcement just following last night's 9-1 fiasco vs the Yanks is like adding insult to injury. Right now I hate the effin Twins, sorry.

[rdehring]

4 minutes ago, Mike Sixel said:

The A's can't find another market. I'm not sure there is one. 

Aren't the A's moving to Vegas?  Isn't there a ballpark under construction there?

[RaoulDuke]

By god is that Glen Taylor's music playing.....................................

At this point anything is possible, as long as it sucks.

[AceWrigley]

1 minute ago, rdehring said:

Aren't the A's moving to Vegas?  Isn't there a ballpark under construction there?

Yes but won't actually play there until 2028.

[laloesch]

40 minutes ago, FilthyMogwai said:

This might not even be the lowest point. People will boycott. Free agents won't sign here. This could be the next Oakland A's. 

I doubt it will be that bad.  The Oakland A's were playing in a toilet bowl of a stadium almost as bad as the Metrodome and never got a new one.  They had a good farm system just not the new stadium and surrounding development to spur more interest and revenues.

[USAFChief]

13 minutes ago, nova_twins said:

I don't post much because there's too much negativity and uninformed discussion on here. 

Heh.

Ironic, to say the least.

[laloesch]

3 minutes ago, AceWrigley said:

Yes but won't actually play there until 2028.

But when they do get there, they will thrive.  Vegas is all about entertainment.  The knights have done great in Vegas, the A's will too.  Oakland had too many challenges and issues for them.  They tried working with the City Council but could never get everything to line up properly, some of it relating to acquiring the land and facilitating surrounding supporting development to create the right atmosphere.  But I don't want to go into the debate about the financing because that's a whole rabbit hole to get lost in.

[SS MagicMark]

Good timing for ESPN to release their Misery Index. Vote now!

[Doctor Gast]

It states that the debit was attached to the Twins. Does that mean that the Twins did not generate that debt but maybe they borrowed against the Twins to pay off a different area?

The Pohlads have no idea how to run a baseball team so why in *&^%$#@! do they want to be in charge of the Twins? & being so adamant in doing so? They have bungled so much stuff; the worst is promoting the horrid Falvey connection that rotted the foundation for many years to come. I feel that Pohlad's sick need for control was maybe a factor in Justin Ishbia backing out. 

I see no feasible reason for anybody to buy the Twins or even to become partners in this sinking ship. Unless the stupid Pohlads have found someone as stupid as they are or they found a baseball smart group & convince the Pohlads to divorce themselves from Falvey & Co. which I hope, & who's able to convince the fanbase that they have a solid plan to revolutionize the Twins. Otherwise, welcome to the Dark Ages.   

[nova_twins]

3 minutes ago, USAFChief said:

Heh.

Ironic, to say the least.

Not at all, in fact it's the exact opposite - crying over every tiny issue obscures real problems.