Twins Video
Two months ago, there was a widespread sense of optimism that the Twins were trending toward naming a new owner before Opening Day amid reports of a "robust market" for the franchise. Billionaire Justin Ishbia was known to be in the driver's seat, expressing a level of serious interest that the Pohlad family clearly perceived as sincere and legitimate. Ishbia was courting local limited partners. Things were progressing briskly. Until they weren't.
In mid-February, Jon Greenberg of The Athletic reported that Ishbia was abandoning his bid for the Twins, pivoting instead to boost his stake in the division rival Chicago White Sox. It was a development that left the Twins "hustling to regroup," according to Dan Hayes, who added that team officials were "caught off guard" by the news.
At the time, it sounded as though the Twins intended to press forward with their efforts to find a find a buyer, turning their attention to the multiple other interested parties that were engaged. But in one month since, it's been radio silence. There have been no meaningful updates on the sale of the Twins ... at least, up until a new report emerged on Monday night, serving to more or less confirm what the recent lack of steam suggests: things have gone cold.
The latest article published by The Athletic casts a rather grim picture for those hoping to see the Twins and Pohlads part ways. If you don't already, I highly recommend subscribing and reading the excellent reporting from Hayes, Ken Rosenthal and Britt Ghiroli. There are many interesting details and revelations within, and I'll only touch on a couple here. But the bottom line is that the Twins are "just starting to renew the sale process" more than four weeks after Ishbia said see ya, with an assortment of factors keeping interest from the remaining market in check.
Several of those factors we already knew. The Twins have struggled to draw attendance since the 2019 season, they don't own their stadium (the city leases them Target Field), and their TV situation is far from ideal. But one new disclosure in The Athletic's report is that the franchise is also $425 million in debt, which is "one of the highest figures among MLB’s 30 teams." Oh, and Joe Pohlad apparently wants to remain in charge.
Yes, that's right. Per the report: "Further complicating matters is the belief that current Twins executive chair Joe Pohlad would prefer to stay in control of the club ... Pohlad remaining in some capacity with a new ownership group isn’t out of the realm of possibility, multiple sources said." I recognize that this tidbit will probably be met with a sour reaction by many, and I don't begrudge you if so, but it's worth noting that Joe is merely one arm of a much larger machine that is the Pohlad empire. He doesn't necessarily call the shots on payroll. From all accounts I've heard, he's one of the few people in the family who actually likes baseball and is invested in the team as more than a business asset.
Still, trying to sell the team while insisting — to any degree — that the previous ownership figurehead remain in place is bound to complicate a sale that already has plenty of sticking points. And it also diminishes the public perception of a fresh start with new organizational leadership. Much of this stuff makes me wonder how serious the Pohlads — reportedly taking a hardline stance on their asking price at $1.7 billion or more, with Forbes' valuation of $1.5 billion being deemed a "non-starter" — really are about making this happen, now that the one genuinely aggressive suitor is out of the running.
The season starts in days and this situation is as murky as ever. The only thing that seems clear is that a resolution is nowhere in sight for the sale of the Minnesota Twins. Hopefully the team can go out and play well enough to take our minds off it.
Recommended Comments
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now