You are correct. The Twins (as with all baseball teams in the MLB) are a privately held company and therefore do not need to disclose their financial statements like a publicly held company would. We go through this same conversation several times a year, with updated numbers from Forbes. These are estimates, and yes the Pohlads are making money, even when the team is bad. That's pretty much all we can say about these numbers. What we really can't say about these numbers is exactly how much money the Pohlads are making.