Depends on the structure of the deal. Is the deal for “the business” or “the assets”?
“The business” at the advertised $1.7b is a bad deal because it comes packaged with the Pohlad’s debt and becomes a leveraged buy out. The 425m in debt doesn’t have to come with the sale. Pohlad doesn’t have to come with the sale. I wouldn’t buy The Minnesota Twins LLC. The downside risk of buying the Pohlad family business practices and the legacy of uncertainty is a non-starter for me. The last thing I want is a skeleton in the closet no one knew of, but I bought the LLC, so I get the lawsuit, along with the package of $425m in debt with minimal real estate is a bad investment. The profit would never pay down the debt (if Forbes is remotely accurate)
”the assets” as in the brand, the contracts, rights, could be a good deal at the advertised $1.7b if you believe you are buying the dip.
Target field is a beautiful park, but isn’t “new”. If you believe you can get a big reno or new park over the investment horizon with significant public funds, or a bigger stake in the real estate… that’s an opportunity for growth.
The Twins are currently under the MLB streaming rights deal. If you think you can get a better TV deal, that’s an opportunity for growth.
This team crapped the bed last year and currently in process of crapping the bed this year, if you think you can run a team better, that’s a cost out and playoff revenue growth opportunity.