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

[weitz41]

Well....all that's left for the Pohlad's to do is swing by my place and run over my dog...(It's called satire) Then their mission for 2025 will be complete...

[Russ]

Not good for those trying to sell season tickets.  Pohlad's and front office need to go

[mluebker]

Well, we're f***ed.

[T.O.]

2 hours ago, jaimedude said:

..... what young players have improved under him and the coaching staff?

That's what it all comes down to. They trade away talent for prospects when there is little prospect in seeing them develop into talented MLB players.

There is no hope.

[Irishman]

14 minutes ago, mluebker said:

Well, we're f***ed.

Agreed.    Don’t come to Target Field!   

[shortround81]

[Obsvr]

I was bummed to see they aren't selling,  But, what if...

It works out?

If they have 425M in debt, my guess is the new "partners" are bringing in enough money to offset that amount or more.  I think they do know and understand that a winning team puts people in the seats which drives revenue, which drives value.  With the debt cleared, my bet is that they spend on free agents.  Do I think they'll go crazy?  No. 

Do I think they will spend a reasonable amount to make the team competitive....yes.  They have before and I think they'll do it again.

 

[TwinkieFan4life]

I am out.  My first move upon hearing this was to cancel my subscription for Twins baseball.  I then pondered which team to adopt as my new team, only to realize that if I supported them the Pohlad family could benefit through revenue sharing.  This is a hard quit of MLB baseball for me.  The Lynx can get me through to football season.  Obviously not something I thought I would ever do when I chose my account name years back.

[Twins63]

"Limited"....means nothing substantial changes... except maybe Pohlads debt paid down...

[Trov]

Bringing people to invest alone will be terrible for fans. No one will invest in a team and willing to just break even with hopes of a payoff at the end.  They are going to try to scrape by to see a return on their investment. 

[LastOnePicked]

Yeah, the trade deadline activity made this outcome very clear, so I'm not surprised. Frustrated, but not surprised, Don't believe a single word in that letter - they're going to run this thing at minimum salaries for the foreseeable and milk it for revenue sharing money.

Despicable.

There is no pathway ahead now for winning. Rebuild or no rebuild, the Pohlads aren't smart enough to put the right people in place to produce a winner. Even if somehow they luck into a nucleus of a championship team, they'll dismantle it at just the wrong time.

There is no hope. We're now officially the Pittsburgh Pirates of the American League. Yet another sad day for Twins baseball.

[cHawk]

[purplesoldier4u]

That last paragraph is baffling.

[Vanimal46]

4 minutes ago, purplesoldier4u said:

That last paragraph is baffling.

Let’s be real. The Pohlads didn’t write any of that. It was written by AI and one of the Pohlads skimmed it over driving up to the 10th hole at Interlachen. 

[nicksaviking]

32 minutes ago, purplesoldier4u said:

That last paragraph is baffling.

I do love how it implies the Pohlads never had a passion for the Twins, and only now, after seeing and hearing the passion from their partners, the community, and Twins fans have the Pohlads too developed a passion and are inspired to building a winning team! It's like the end of the Grinch, this is all fantastic news!

Also, I wonder which hedge fund has this deep passion for Twins baseball? 

 

[nicksaviking]

39 minutes ago, purplesoldier4u said:

 

33 minutes ago, Vanimal46 said:

Let’s be real. The Pohlads didn’t write any of that. It was written by AI and one of the Pohlads skimmed it over driving up to the 10th hole at Interlachen. 

Well two can play that game:

[Brock Beauchamp]

2 hours ago, The Great Hambino said:

I pledge to purchase ZERO commercial real estate

You and everybody else, which is how we got here.

[Fatbat]

😳 🤬🤣🤦‍♂️

[Original_JB]

2 hours ago, TwinkieFan4life said:

I am out.  My first move upon hearing this was to cancel my subscription for Twins baseball.  I then pondered which team to adopt as my new team, only to realize that if I supported them the Pohlad family could benefit through revenue sharing.  This is a hard quit of MLB baseball for me.  The Lynx can get me through to football season.  Obviously not something I thought I would ever do when I chose my account name years back.

There's always Hostess!

[IndyTwinsFan]

2 hours ago, Obsvr said:

I was bummed to see they aren't selling,  But, what if...

It works out?

If they have 425M in debt, my guess is the new "partners" are bringing in enough money to offset that amount or more.  I think they do know and understand that a winning team puts people in the seats which drives revenue, which drives value.  With the debt cleared, my bet is that they spend on free agents.  Do I think they'll go crazy?  No. 

Do I think they will spend a reasonable amount to make the team competitive....yes.  They have before and I think they'll do it again.

 

I'm not sure what to think about your overexuberant optimism. 

[D.C Twins]

2 hours ago, Obsvr said:

I was bummed to see they aren't selling,  But, what if...

It works out?

If they have 425M in debt, my guess is the new "partners" are bringing in enough money to offset that amount or more.  I think they do know and understand that a winning team puts people in the seats which drives revenue, which drives value.  With the debt cleared, my bet is that they spend on free agents.  Do I think they'll go crazy?  No. 

Do I think they will spend a reasonable amount to make the team competitive....yes.  They have before and I think they'll do it again.

 

Denial AND Bargaining phase of grief at the same time.... impressive!

[D.C Twins]

1 hour ago, LastOnePicked said:

Yeah, the trade deadline activity made this outcome very clear, so I'm not surprised. Frustrated, but not surprised, Don't believe a single word in that letter - they're going to run this thing at minimum salaries for the foreseeable and milk it for revenue sharing money.

Despicable.

There is no pathway ahead now for winning. Rebuild or no rebuild, the Pohlads aren't smart enough to put the right people in place to produce a winner. Even if somehow they luck into a nucleus of a championship team, they'll dismantle it at just the wrong time.

There is no hope. We're now officially the Pittsburgh Pirates of the American League. Yet another sad day for Twins baseball.

It is even possible that the Pittsburgh Pirates are now the Minnesota Twins of the National League!

[h2oface]

Such great new partnerships..... that they can't say who it is. 

Pohlads are liars and losers.

I can't see how any player would want to be on this team, now, unless they are desparate, like a Gasper or Julien, and there is no other option.

 

[howeda7]

41 minutes ago, h2oface said:

Such great new partnerships..... that they can't say who it is. 

Pohlads are liars and losers.

I can't see how any player would want to be on this team, now, unless they are desparate, like a Gasper or Julien, and there is no other option.

 

I don't understand why they can't disclose that. Who cares if MLB hasn't approved them yet. 

[ashbury]

9 hours ago, Rod Carews Birthday said:

 the Pohlads aren't ancient and there are a lot more of them.  

It's Pohlads all the way down.

[Robert Gauthier]

One thing I read today indicated that the debt is NOT from outside real estate losses.  Apparently it is structural debt, etiology unclear, but a couple of sources might be original stadium debt not repaid, scoreboard and Covid costs.  The team did pay staff and minor leaguers during Covid shutdown, not sure how much but many teams did not.  If you are a real estate investor, interest can be a deduction, which could explain why stadium costs were not paid by Pohlads in a timely fashion.  The county paid off their portion because the interest on bonds is a cost.  That the debt is so high is likely a business miscalculation (mistake), now it is a hindrance and cash flow cannot easily pay off.  The loans ARE guaranteed by MLB, so default is not an issue, but they likely are at high end of allowable debt ratio.  So they are in a bind.

payroll downsizing is an interesting topic as Tampa and Cleveland have shown you can be successful on field and ledger.  Cleveland’s payroll last year was lower than the Twins but they made league championship series, while we wallowedwhile paying 30M more.

does this excuse the Pohlad decisions?  No. They pay themselves nicely, previous Pohlad took 10M a year in salary for having the right last name.  Can they dig out of this?  Yes, but the past does not provide much hope.

best case for now is two groups provide some liquidity.  One group is rumored to be local, Maybe Maurer family?  That would provide some positivity but little real change unless Joe can suit up again.

[Richie the Rally Goat]

9 hours ago, howeda7 said:

Possible. But I don't think they actually own banks anymore, that was the old man. And there isn't really any net benefit to playing that game if you own 100% of both entities. 

When you sell the LLC, all of the debts go with it. There is absolutely benefit to leveraging a profitable asset to fund a temporarily under-performing one. Especially when you plan on selling the profitable one

[USAFChief]

10 minutes ago, Robert Gauthier said:

One thing I read today indicated that the debt is NOT from outside real estate losses.  Apparently it is structural debt, etiology unclear, but a couple of sources might be original stadium debt not repaid,

Yup

[lecroy24fan]

4 hours ago, Vanimal46 said:

Let’s be real. The Pohlads didn’t write any of that. It was written by Dave St Peter and one of the Pohlads skimmed it over driving up to the 10th hole at Interlachen. 

Fixed it

[Peter]

13 hours ago, Obsvr said:

I was bummed to see they aren't selling,  But, what if...

It works out?

If they have 425M in debt, my guess is the new "partners" are bringing in enough money to offset that amount or more.  I think they do know and understand that a winning team puts people in the seats which drives revenue, which drives value.  With the debt cleared, my bet is that they spend on free agents.  Do I think they'll go crazy?  No. 

Do I think they will spend a reasonable amount to make the team competitive....yes.  They have before and I think they'll do it again.

 

Absolutely 💯 agree with you!!