Shocking news was announced this afternoon as according to insider Bob Nightengale, Minnesota Twins owner Joe Pohlad will be putting the team for sale.
Twins owner Joe Pohlad is exploring selling the team, per
@nightengalejr
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The Pohlad family has owner the Minnesota Twins since purchasing them in 1984 for $44 million which has been quite the investment as the team is now worth around $1.5-$2 billion.
The Pohlad family, which bought the Twins for $44 million in 1984, said it has retained Allen & Company, the investment banker that commonly facilitates sales of sports franchises. The Twins are estimated to be worth between $1.5 billion and $2 billion. -Passan
Pohlad has announced that he and his family have put some real thought to this and have decide to explore putting the Twins for sale.
"After months of thoughtful consideration, our family reached a decision this summer to explore selling the Twins," the team said in a statement. "As we enter the next phase of this process, the time is right to make this decision public."
The Pohlad family saw some major success right off the bat of their time as the Twins owners' won the World Series in 1987 and 1991 but came close to having the team moved in 2001 due to financial struggles.
The most recent MLB team to be sold was the Baltimore Orioles over the summer at $1.75 billion and prior to that it was the New York Mets in 202 for $2.4 billion which means the Twins should fall somewhere in between these two prices.
The most recent sale of an MLB team -- the Baltimore Orioles to David Rubenstein over the summer -- was valued at $1.725 billion. Prior to that, the last sale had been Steve Cohen's $2.4 billion purchase of the New York Mets in 2020. -Passan
Source: ESPN
Twins, estimated to be worth $1.5 to $2 billion, put up for sale
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