Twins Hit the Market: Pohlad Family Looks to End Four-Decade Ownership

The Twins are now for sale, a move that could bring an end to one of MLB’s longest-tenured ownership groups and one that will provide a new look into franchise values amid unprecedented local-media uncertainty.

The Pohlad family, which has owned the club for four decades, informed employees Thursday morning it has begun efforts to sell the franchise. The Twins have retained major investment bank Allen & Co. to lead those sale efforts. Family patriarch Carl Pohlad initially purchased the Twins in 1984 for about $44 million, and for many years was an influential owner, winning two World Series titles and serving as a close confidante of former commissioner Bud Selig. 

Later, Pohlad’s son, Jim, and grandson, Joe, took over team leadership, and the elder Pohlad died in 2009. The family holds the fourth-longest ownership tenure in the league behind groups leading the Yankees, White Sox, and Phillies. 

“For the past 40 seasons, the Minnesota Twins have been a part of our family’s heart and soul,” the Pohlads said in a statement. “The team is woven into the fabric of our lives, and the Twins community has become an extension of our family. The staff, the players, and most importantly, you, the fans—everyone who makes up this unbelievable organization—is part of that. We’ve never taken that lightly.

“However, after months of thoughtful consideration, our family reached a decision this summer to explore selling the Twins. As we enter the next phase of the process, the time is right to make this decision public,” the family said.

Earlier this year, the Twins were estimated by Forbes to be worth $1.46 billion, 21st in MLB. More recently, though, the Orioles were sold for $1.725 billion, and operate in a smaller media market. The well-regarded Target Field, the Twins’ home ballpark, and a team-friendly lease with a minimum of 15 years remaining will likely boost the appeal of the franchise to potential buyers.

Time of Change

The Pohlads’ decision to sell also arrives as the Twins this week elected to have MLB produce and distribute its locally broadcast games during the 2025 season, veering away from a prior relationship with the bankrupt Diamond Sports Group. The Twins are just one of many clubs across the league dealing with significant turbulence surrounding their local media rights.

After reaching the playoffs three times between 2017 and 2023, the Twins faded down the stretch this year, and now compete in a strengthened American League Central that includes not only the division champion Guardians but also a resurgent Tigers and Royals. 

As the Twins’ ownership explores a sale of the franchise, there is still no guarantee a deal will take place. Ownership groups for the Nationals and Angels have made similar pronouncements in recent years and later elected to retain the clubs.